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Part Exchange Home
lizziedrip123
Posts: 2 Newbie
Hello 
Im getting a little anxious and I would like to get some views on our situation please.
We have a cottage that we are PXing with a national house builder. We saw the showhome that had been for sale since April ( Original price was 295K ) the price had dropped to 285K.
We saw the house two and half weeks ago and arranged a PX paid deposits ect. They have agreed to PX ours for 230K.
We didnt haggle, we didnt try to get their price down nor did we try to get our offer increased.
We had some minor work to do totally £1800. We have had other works done last year and a guarantee from out builder on his letter head with his VAT number. We should be moving next Thursday. Yes, I know, its tight! We have our mortgage offer in place, we have done the searches, all paperwork is in place. Our solicitor is one they recommended for a swift sale she is local. Im fretting over the homebuyers report on our house. Really fretting to the point of making myself feel quite rotten over it. We are this far down the line, if something comes up on the survey are they likely to renegotiate ( this is fine) or would they pull the plug this far along the conveyancing route? Do they need this house sold asap to get their books looking good for their June target?
Any thoughts on this would be lovely, thanks
Im getting a little anxious and I would like to get some views on our situation please.
We have a cottage that we are PXing with a national house builder. We saw the showhome that had been for sale since April ( Original price was 295K ) the price had dropped to 285K.
We saw the house two and half weeks ago and arranged a PX paid deposits ect. They have agreed to PX ours for 230K.
We didnt haggle, we didnt try to get their price down nor did we try to get our offer increased.
We had some minor work to do totally £1800. We have had other works done last year and a guarantee from out builder on his letter head with his VAT number. We should be moving next Thursday. Yes, I know, its tight! We have our mortgage offer in place, we have done the searches, all paperwork is in place. Our solicitor is one they recommended for a swift sale she is local. Im fretting over the homebuyers report on our house. Really fretting to the point of making myself feel quite rotten over it. We are this far down the line, if something comes up on the survey are they likely to renegotiate ( this is fine) or would they pull the plug this far along the conveyancing route? Do they need this house sold asap to get their books looking good for their June target?
Any thoughts on this would be lovely, thanks
0
Comments
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we part exchanged and IMO they are much less likely to be fussing over little things compared to a residential buyer.
They will also understand the survey which often comes with caveats that are frightening to normal people e.g. "we can't guarantee the electrics without a full check" but the builder will not bat an eye lid.
They have probably factored in some contingency and have a vested interest in completing successfully.
So overall I'd say less likely to have issues than a "normal" buyer.
1 -
They didn't even survey ours when we part exchanged it!
It was literally just two local estate agents and a representative of the house builder who came and had a look and valued it.1 -
Ahh I wish! I think it depends of the developer?RelievedSheff said:They didn't even survey ours when we part exchanged it!
It was literally just two local estate agents and a representative of the house builder who came and had a look and valued it.0
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