New build easy mover scheme vs private sale

Corbula

We're in the process of trying to buy a new build and picked out a plot, paid £500 for it (refundable) and started the part exchange process. Had our current home valued but while we were waiting they took reservation from someone else so it's no longer available. 

We've picked out another plot which on hindsight is actually better. Trouble is it's just at the footing stage so won't take part exchange on it but will do their easy mover scheme. They still won't take a reservation until we've had an offer on our house in which time someone can come along and snatch it. 

Has anyone got experience of easy mover schemes? The only pro I can see aside from being more serious in their eyes using their scheme is it saves about £2500 on estate agent fees on a £220k house. The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Not sure what would happen if the buyer pulls out later of buying ours under the scheme. 

SarahB16

Corbula said:

We're in the process of trying to buy a new build and picked out a plot, paid £500 for it (refundable) and started the part exchange process. Had our current home valued but while we were waiting they took reservation from someone else so it's no longer available. 

We've picked out another plot which on hindsight is actually better. Trouble is it's just at the footing stage so won't take part exchange on it but will do their easy mover scheme. They still won't take a reservation until we've had an offer on our house in which time someone can come along and snatch it. 

Has anyone got experience of easy mover schemes? The only pro I can see aside from being more serious in their eyes using their scheme is it saves about £2500 on estate agent fees on a £220k house. The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Not sure what would happen if the buyer pulls out later of buying ours under the scheme. 

What I don't understand is the developer is offering part exchange on the homes which are further along in terms of reaching build completion (practical completion) but then surely, in time, they should also be offering part exchange on the home you want (just not at the moment)?  

Have you suggested to the developer putting down a deposit on the home you want to demonstrate how keen you are and ask them if, in time, they will be offering part exchange on the home you wish to buy?  That seems far better to me as then the developer can sell your home and you can move into the new build home when it is ready and no worrying about sales falling through or delays to the new build home.   

Corbula

SarahB16 said:

Corbula said:

We're in the process of trying to buy a new build and picked out a plot, paid £500 for it (refundable) and started the part exchange process. Had our current home valued but while we were waiting they took reservation from someone else so it's no longer available. 

We've picked out another plot which on hindsight is actually better. Trouble is it's just at the footing stage so won't take part exchange on it but will do their easy mover scheme. They still won't take a reservation until we've had an offer on our house in which time someone can come along and snatch it. 

Has anyone got experience of easy mover schemes? The only pro I can see aside from being more serious in their eyes using their scheme is it saves about £2500 on estate agent fees on a £220k house. The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Not sure what would happen if the buyer pulls out later of buying ours under the scheme. 

What I don't understand is the developer is offering part exchange on the homes which are further along in terms of reaching build completion (practical completion) but then surely, in time, they should also be offering part exchange on the home you want (just not at the moment)?  

Have you suggested to the developer putting down a deposit on the home you want to demonstrate how keen you are and ask them if, in time, they will be offering part exchange on the home you wish to buy?  That seems far better to me as then the developer can sell your home and you can move into the new build home when it is ready and no worrying about sales falling through or delays to the new build home.   

Yep that's been suggested, they simply refuse taking a reservation for part exchange until the roof goes on. The only way they will take a reservation is if we have an offer on ours already. They're holding out in case we fall through and a chain free or first time buyer comes along. 

That's what happened with the last plot, we were going through the part exchange process, took my fee (which they said would become the reservation fee afterwards). Then the next day called me to say someone else had put a reservation down and it's no longer available.

They keep saying they want to sell houses and make it as difficult as possible. 

Hoenir

Corbula said:

SarahB16 said:

Corbula said:

We're in the process of trying to buy a new build and picked out a plot, paid £500 for it (refundable) and started the part exchange process. Had our current home valued but while we were waiting they took reservation from someone else so it's no longer available. 

We've picked out another plot which on hindsight is actually better. Trouble is it's just at the footing stage so won't take part exchange on it but will do their easy mover scheme. They still won't take a reservation until we've had an offer on our house in which time someone can come along and snatch it. 

Has anyone got experience of easy mover schemes? The only pro I can see aside from being more serious in their eyes using their scheme is it saves about £2500 on estate agent fees on a £220k house. The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Not sure what would happen if the buyer pulls out later of buying ours under the scheme. 

What I don't understand is the developer is offering part exchange on the homes which are further along in terms of reaching build completion (practical completion) but then surely, in time, they should also be offering part exchange on the home you want (just not at the moment)?  

Have you suggested to the developer putting down a deposit on the home you want to demonstrate how keen you are and ask them if, in time, they will be offering part exchange on the home you wish to buy?  That seems far better to me as then the developer can sell your home and you can move into the new build home when it is ready and no worrying about sales falling through or delays to the new build home.   

They're holding out in case we fall through and a chain free or first time buyer comes along. 

Nope. There's no holding out. Developer's have capital tied up in construction work and will prioritise the completion of part built / finished properties first. To release the cash. 

eddddy

Corbula said:

The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Just to clarify - you would have exactly the same issues if you instructed an estate agent yourself, instead of using the easy mover scheme.

In simple terms, the developer (Taylor Wimpey?) will probably expect you to do this.

• 1. Accept an offer on your current house (from a proceedable buyer)

• 2. Reserve one of their plots

• 3. Exchange contracts on your sale and purchase within about 28 days

• 4. Wait until your new house is ready - maybe 2 months, 3 months, 4 months etc.

• 5. Then the developer will give you 2 weeks notice when they are ready. (i.e. you will have to complete and move within 2 weeks)

The problem is, that whether you use your own estate agent, or easy mover - it's unlikely that you'll find a buyer for your house who will accepts those terms.

i.e. They have to exchange contracts in 28 days, then "sit around waiting" for 2, 3, 4 months or more before you give them 2 weeks notice that they can complete and move into your house.


So you might have to exchange contracts after 28 days, and agree to complete and move out after a further 28 days. And find somewhere else to live for a few months.

Corbula

eddddy said:

Corbula said:

The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Just to clarify - you would have exactly the same issues if you instructed an estate agent yourself, instead of using the easy mover scheme.

In simple terms, the developer (Taylor Wimpey?) will probably expect you to do this.

• 1. Accept an offer on your current house (from a proceedable buyer)

• 2. Reserve one of their plots

• 3. Exchange contracts on your sale and purchase within about 28 days

• 4. Wait until your new house is ready - maybe 2 months, 3 months, 4 months etc.

• 5. Then the developer will give you 2 weeks notice when they are ready. (i.e. you will have to complete and move within 2 weeks)

The problem is, that whether you use your own estate agent, or easy mover - it's unlikely that you'll find a buyer for your house who will accepts those terms.

i.e. They have to exchange contracts in 28 days, then "sit around waiting" for 2, 3, 4 months or more before you give them 2 weeks notice that they can complete and move into your house.


So you might have to exchange contracts after 28 days, and agree to complete and move out after a further 28 days. And find somewhere else to live for a few months.

Thanks for the over view that's very helpful! 

Can you stipulate to the estate agent that we wouldn't be able to move out until the new house is ready. This would of course limit your potential pool of buyers but they must be use to this sort of process. 

It's not just preference, we have a daughter with disabilities and needs stability and can't be hopping around different homes until it's the new one is ready. 

Tabieth

Corbula said:

eddddy said:

Corbula said:

The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Just to clarify - you would have exactly the same issues if you instructed an estate agent yourself, instead of using the easy mover scheme.

In simple terms, the developer (Taylor Wimpey?) will probably expect you to do this.

• 1. Accept an offer on your current house (from a proceedable buyer)

• 2. Reserve one of their plots

• 3. Exchange contracts on your sale and purchase within about 28 days

• 4. Wait until your new house is ready - maybe 2 months, 3 months, 4 months etc.

• 5. Then the developer will give you 2 weeks notice when they are ready. (i.e. you will have to complete and move within 2 weeks)

The problem is, that whether you use your own estate agent, or easy mover - it's unlikely that you'll find a buyer for your house who will accepts those terms.

i.e. They have to exchange contracts in 28 days, then "sit around waiting" for 2, 3, 4 months or more before you give them 2 weeks notice that they can complete and move into your house.


So you might have to exchange contracts after 28 days, and agree to complete and move out after a further 28 days. And find somewhere else to live for a few months.

Thanks for the over view that's very helpful! 

Can you stipulate to the estate agent that we wouldn't be able to move out until the new house is ready. This would of course limit your potential pool of buyers but they must be use to this sort of process. 

It's not just preference, we have a daughter with disabilities and needs stability and can't be hopping around different homes until it's the new one is ready. 

You can say that to the EA but you’ll severely limit potential buyers. I get that it’s important for your daughter to have stability, but potential buyers will also have their own needs and pressures. You might get lucky and find a buyer that doesn’t mind hanging around but most will want to get through the process as quickly as they can. 

Corbula

Tabieth said:

Corbula said:

eddddy said:

Corbula said:

The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Just to clarify - you would have exactly the same issues if you instructed an estate agent yourself, instead of using the easy mover scheme.

In simple terms, the developer (Taylor Wimpey?) will probably expect you to do this.

• 1. Accept an offer on your current house (from a proceedable buyer)

• 2. Reserve one of their plots

• 3. Exchange contracts on your sale and purchase within about 28 days

• 4. Wait until your new house is ready - maybe 2 months, 3 months, 4 months etc.

• 5. Then the developer will give you 2 weeks notice when they are ready. (i.e. you will have to complete and move within 2 weeks)

The problem is, that whether you use your own estate agent, or easy mover - it's unlikely that you'll find a buyer for your house who will accepts those terms.

i.e. They have to exchange contracts in 28 days, then "sit around waiting" for 2, 3, 4 months or more before you give them 2 weeks notice that they can complete and move into your house.


So you might have to exchange contracts after 28 days, and agree to complete and move out after a further 28 days. And find somewhere else to live for a few months.

Thanks for the over view that's very helpful! 

Can you stipulate to the estate agent that we wouldn't be able to move out until the new house is ready. This would of course limit your potential pool of buyers but they must be use to this sort of process. 

It's not just preference, we have a daughter with disabilities and needs stability and can't be hopping around different homes until it's the new one is ready. 

You can say that to the EA but you’ll severely limit potential buyers. I get that it’s important for your daughter to have stability, but potential buyers will also have their own needs and pressures. You might get lucky and find a buyer that doesn’t mind hanging around but most will want to get through the process as quickly as they can. 

I guess we will just have to be lucky that timings line up and we can work something out. It must happen all the time with chains. 

eddddy

Corbula said:

Tabieth said:

Corbula said:

eddddy said:

Corbula said:

The downside which they said was if the new house isn't finished and ours has sold we would have to move out and find somewhere else to stay whilst it's being finished.

Just to clarify - you would have exactly the same issues if you instructed an estate agent yourself, instead of using the easy mover scheme.

In simple terms, the developer (Taylor Wimpey?) will probably expect you to do this.

• 1. Accept an offer on your current house (from a proceedable buyer)

• 2. Reserve one of their plots

• 3. Exchange contracts on your sale and purchase within about 28 days

• 4. Wait until your new house is ready - maybe 2 months, 3 months, 4 months etc.

• 5. Then the developer will give you 2 weeks notice when they are ready. (i.e. you will have to complete and move within 2 weeks)

The problem is, that whether you use your own estate agent, or easy mover - it's unlikely that you'll find a buyer for your house who will accepts those terms.

i.e. They have to exchange contracts in 28 days, then "sit around waiting" for 2, 3, 4 months or more before you give them 2 weeks notice that they can complete and move into your house.


So you might have to exchange contracts after 28 days, and agree to complete and move out after a further 28 days. And find somewhere else to live for a few months.

Thanks for the over view that's very helpful! 

Can you stipulate to the estate agent that we wouldn't be able to move out until the new house is ready. This would of course limit your potential pool of buyers but they must be use to this sort of process. 

It's not just preference, we have a daughter with disabilities and needs stability and can't be hopping around different homes until it's the new one is ready. 

You can say that to the EA but you’ll severely limit potential buyers. I get that it’s important for your daughter to have stability, but potential buyers will also have their own needs and pressures. You might get lucky and find a buyer that doesn’t mind hanging around but most will want to get through the process as quickly as they can. 

I guess we will just have to be lucky that timings line up and we can work something out. It must happen all the time with chains. 

I'm wondering if you might have misunderstood - what timings are you hoping will line up? 

This issue doesn't ever happen with 'typical' chains.

It only happens if you want to buy a newbuild.

With a 'typical' chains everyone exchanges contracts with a completion date set in stone (normally 2 to 4 weeks later), which cannot be changed.


When you buy a newbuild, you exchange contracts without knowing what the completion date will be. It could be 2 or 4 or 6 months away - you won't know for sure until 2 weeks before it happens..

Albermarle

When you buy a newbuild, you exchange contracts without knowing what the completion date will be. It could be 2 or 4 or 6 months away - you won't know for sure until 2 weeks before it happens..

Or in the unusual case with my SIL, she was not expected to even exchange contracts until the property was nearly finished, which helped with her selling her own place as it became more like a normal chain.
However when it was finished the developer delayed exchanging contracts for two months, causing much angst for her and her buyer ( who luckily held on ). The reason for the delay was never clear, we assumed it was some sort of accounting issue where they wanted keep the properties on their books, rather than have the buyers cash. 

Yorkie1

OP, given the uncertainty attached to the requirements of the developer, and also given the new build premium that is included in the sale price of many new builds, are you absolutely sold on it being a brand new property? Are there any recent developments, which would give a similar property, without you being tied into a developer who won't do part exchange? You would have more control over dates then (subject to the standard vagaries of a house chain). Or are there any local new build developments with a developer who would do part exchange?