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Barratt Part exchange questionnaire
House_Buyer1999
Posts: 2 Newbie
Hi all, I am considering part exchanging my flat with Barratt against a new house. I understand you have to fill in a questionnaire and they decide whether to accept the property. I was wondering if anyone who had done this can advise me if any of the following questions will be asked?
1) How much did you pay for the property?
2) How long have you owned the property?
3) How much is the service charge on the property?
Any help would be appreciated. Thank-you.
1) How much did you pay for the property?
2) How long have you owned the property?
3) How much is the service charge on the property?
Any help would be appreciated. Thank-you.
0
Comments
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Well, the first 2 they can literally Google and find out. The last one will definitely be asked because it's a flat and prudent information.House_Buyer1999 said:Hi all, I am considering part exchanging my flat with Barratt against a new house. I understand you have to fill in a questionnaire and they decide whether to accept the property. I was wondering if anyone who had done this can advise me if any of the following questions will be asked?
1) How much did you pay for the property?
2) How long have you owned the property?
3) How much is the service charge on the property?
Any help would be appreciated. Thank-you.0 -
Why are you concerned about giving what seems like fairly basic information?
..all of which would become known to a buyer in time anyway.0 -
how quick they can flog on, if going to be viable etcDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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You should be prepared for a long list of questions (many of which you may not be able to answer). With regards to the 3 you mention, 1 - unlikely 2 - probably and 3 - definitely.
For starters they will also want to know the annual Ground Rent and whether it increases over time and the remaining years of the leasehold.
A good phrase to use is "not to my knowledge"0 -
I'm trying to establish if there will be any issues in advance without paying any money for reservation fees etc. I bought the property as a renovation project so in isolation it looks like I paid a low price however based on comparisons of sale in the building I'm not looking for a high price and am not concerned about a RICS valuation. No issues with lease etc but the service charge is it a bit on the high side.
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With regards to 1 and 2. That's entering into money laundering territory. Checks on Land Registry will be performed by their solicitor later in the process. Irrespective of what informaton is initially requested.0
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