Persimmon part exchange

Tspice

Hi
Just looking for advice from anyone who might have gone down the route of part exchange with a new build. 

We are looking to part exchange our house for a new build with persimmon. We've been to speak to them about it and they asked us to get 3 valuations completed and send them over. Which I've done. They said they'll send them to their sales team and get back to us? How long does this normally take? I'm expecting a low offer back but I'm hoping I can negotiate on the other house or stamp duty if they do. What has others peoples experiences been? Thanks 

Noneforit999

Following this with interest as we are looking at a new build so will be interesting to see how low the offer is compared to market value.

Can't offer any help I am afraid though

user1977

Anecdotally, I think PE valuations tend to be a reasonable reflection of market value. It's the inflated prices for the new houses where they make their profits...

RelievedSheff

We part exchanged our old house against our current new build. We were offered 90% of the value which we could have got for the house on the open market (£90k for a house which would sell on the open market for £100k).

But that is only part of the story because we also got a £10k deposit contribution, legal fees paid, moving costs contribution, stamp duty paid and free flooring through out. The plot we bought was a finished plot so we were also able to move in 3.5 weeks after we reserved the property because there was no chain.

Now it is worth bearing in mind this was 2.5 years ago now and the market was very different back then to what it is now.

tinytiddles

We PE’d with another developer, once our previous home was valued by two agents they got back to us within a couple of days to make their offer. Sounds like you had to sort the valuations yourself but ours were done by estate agents appointed by the developer. Their valuation was absolutely bang-on what we thought and the offer was 95% of the market value plus we got £14k of extras thrown in. The agents who did the valuations told me that they also prepare a report about how saleable your property is and whether they would consider it to be a risk to the developer - I.e will they be able to get shot of it quickly.

The bit that took the longest for us was having the Homebuyer’s Report done and for them to clear that at their end but once contracts were received it took three weeks to complete as our new home had already been built. 

Good luck!