Part exchange

user1977

And if the property is already vacant, the builders will just want to sell as quickly as reasonably possible for the best price they can get at that stage. What value they attributed to it for the purpose of the part exchange isn't really all that relevant.

UnderOffer

T1T2T3T4 said:

user1977 said:

T1T2T3T4 said:

user1977 said:

Assuming you mean from a builder, anecdotally, the valuations tend to be reasonable. Their profit is on the (often inflated) price they're charging you for the new property, they're not aiming to also make a profit on the resale of the part-exchanged property.

Hi. Yes from a builder. So they would give you what the house is worth/what you might get on the normal market? And make their money more by overcharging on their property?

That's pretty much what I said, yes.

Though why are you asking? Your other threads suggest you're a FTB. 

The house we're interested in is a part exchange. 

I’m confused, are you trying to part exchange your current house or are you trying to buy an already part exchanged home? 

If buying a p-ex my observation is that the developer selling can be very flexible on price, my friend managed to offer £15k below the latest reduced for sale price which got accepted as the developer just wanted rid.