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Buying a house sold as part of a part exchange scheme
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You’re welcome - I would say you’re in a fairly glorious position really even if time is knocking on a bit. They are extremely unlikely to pull out from the sale as they won’t want to keep the property and they don’t even start the part ex process until the person buying the new build has their mortgage offer in place and therefore high odds of completing the sale. The other good thing is that the current owner of your perspective home will have a “clean and tidy clause” in their contract with £1000 retained from the sale of their home until it has been signed off as clear of belongings. So you won’t end up with any of the vendor’s crap left behind. Good luck!2
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Those words are reassuring for me. Going through the same and I just want to exchange as soon as possible so that we know it is going to happen and doesn't fall through.tinytiddles said:You’re welcome - I would say you’re in a fairly glorious position really even if time is knocking on a bit. They are extremely unlikely to pull out from the sale as they won’t want to keep the property and they don’t even start the part ex process until the person buying the new build has their mortgage offer in place and therefore high odds of completing the sale. The other good thing is that the current owner of your perspective home will have a “clean and tidy clause” in their contract with £1000 retained from the sale of their home until it has been signed off as clear of belongings. So you won’t end up with any of the vendor’s crap left behind. Good luck!0 -
Thanks a lot! Its great to know about the clean and tidy clause. Let’s hope contracts will be exchanged soon!tinytiddles said:You’re welcome - I would say you’re in a fairly glorious position really even if time is knocking on a bit. They are extremely unlikely to pull out from the sale as they won’t want to keep the property and they don’t even start the part ex process until the person buying the new build has their mortgage offer in place and therefore high odds of completing the sale. The other good thing is that the current owner of your perspective home will have a “clean and tidy clause” in their contract with £1000 retained from the sale of their home until it has been signed off as clear of belongings. So you won’t end up with any of the vendor’s crap left behind. Good luck!0
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