House buying companies

Silvertabby

Albermarle said:

 or maybe trying to part exchange my house for a new build…

I do not think anybody has addressed this question yet.
This is a normal/good way if you want to actually buy a new house, but not all developers will offer it on every house.
The reason it is a good way, is that often the completion date of the new build gets delayed, and this can mean the buyer of your house pulling out with frustration. So having a part exchange with the developer solves this issue.

However it does not solve your issue of wanting to move in a tight time frame, because as said new builds often run behind schedule.

Plus you will almost certainly find that part exchange would be subject to your new house being substantially bigger/more expensive than your old house.

elsien

Rent and then buy? 

Dustyevsky

elsien said:

Rent and then buy? 

OP will possibly have a reason for rejecting this option, but it's the way to get the best deal, even if the area is known. 

Speed rarely results in finding the best match for your needs. 

We rented for 9 months before finding the right property. It could have been twice that long, and it would still have paid-off. Messy, but worth it.

steadfast123

We moved to a new build a year ago and used part exchange. I think the new house had to be a minimum of 40% more expensive than the part ex house. We found a house that was almost completed but hadn’t sold, so the process was quick and we feel we got a good deal. We first enquired about the house in the October and completed on the 13th Dec so turnaround can be quick in those circumstances. 

saajan_12

restless6 said:

Hi. I am researching ways of selling my
house quickly (but not right now hence just researching )
In the future I will want to relocate approx 200miles back to my hometown and will have a short time
frame (school summer). I have a mortgage and will also need to apply for this to be bigger in order to buy where I want to live . 
I have heard mention of house buying companies or maybe trying to part exchange my house for a new build… has anyone got any experience with any situation like this ?thanks 

You don't actually need to Start & Finish the process within summer, you just need to Finish the move in Summer. The rest ie viewings and legals doesn't affect the kids. 

The house buying companies and new build part exchangers don't make things any faster than a normal sale - they'll usually still try to line up an onward buyer to pass the house to and lose time through renegotiating the price with you or waiting for the new build to be completed. The house buyers (barely) make sense for properties that won't sell normally while part exchange can be useful to slow down the process because you want a new build. 

In your case, I'd just advertise it in spring with a normal estate agent and price it competitively. If its priced reasonably or a little under, you should get your choice of offers and pick one that's chain free, lowest LTV etc so the checks are faster. Aim to complete in early summer, giving you a couple of months buffer for any delays. 

RelievedSheff

Albermarle said:

 or maybe trying to part exchange my house for a new build…

I do not think anybody has addressed this question yet.
This is a normal/good way if you want to actually buy a new house, but not all developers will offer it on every house.
The reason it is a good way, is that often the completion date of the new build gets delayed, and this can mean the buyer of your house pulling out with frustration. So having a part exchange with the developer solves this issue.

However it does not solve your issue of wanting to move in a tight time frame, because as said new builds often run behind schedule.

We bought the house we are currently selling by part exchanging our previous property. The new build was already complete when we reserved it.

From reservation to moving in was 3.5 weeks. 

That was in 2019.

ReadySteadyPop

Emmia said:

restless6 said:

silvercar said:

restless6 said:

Sorry for not explaining thoroughly - I don’t need a school place … my kids are all older . But one of them works in a school - so would
need to make the move during holidays . Also one child would be moving from college to uni - so also affected by term time . 

Thanks  

They aren’t affected in the same way. Unless you are moving so far that the elder couldn’t commute to the old job, in which case they would need to rent / Airbnb/ sofa surf for a few weeks. The child at uni could be away while you move their stuff, they don’t actually need to be at home.

Both will be living at home so that’s why we have tight time scales . 

I'd probably avoid the companies and price the property yourself competitively - going £5k or £10k under equivalent properties might be enough to get you a quick sale.

 Very unlikely that demand in most areas is that frantic nowadays.

ReadySteadyPop

Albermarle said:

 or maybe trying to part exchange my house for a new build…

I do not think anybody has addressed this question yet.
This is a normal/good way if you want to actually buy a new house, but not all developers will offer it on every house.
The reason it is a good way, is that often the completion date of the new build gets delayed, and this can mean the buyer of your house pulling out with frustration. So having a part exchange with the developer solves this issue.

However it does not solve your issue of wanting to move in a tight time frame, because as said new builds often run behind schedule.

https://estateagentnetworking.co.uk/new-build-transaction-volumes-fall-by-62/

Many developers will be looking to do deals. Many will be going bust.

Emmia

ReadySteadyPop said:

Emmia said:

restless6 said:

silvercar said:

restless6 said:

Sorry for not explaining thoroughly - I don’t need a school place … my kids are all older . But one of them works in a school - so would
need to make the move during holidays . Also one child would be moving from college to uni - so also affected by term time . 

Thanks  

They aren’t affected in the same way. Unless you are moving so far that the elder couldn’t commute to the old job, in which case they would need to rent / Airbnb/ sofa surf for a few weeks. The child at uni could be away while you move their stuff, they don’t actually need to be at home.

Both will be living at home so that’s why we have tight time scales . 

I'd probably avoid the companies and price the property yourself competitively - going £5k or £10k under equivalent properties might be enough to get you a quick sale.

 Very unlikely that demand in most areas is that frantic nowadays.

It is just a suggestion... that discount could be tweaked,

RSP you're famous for predicting a crash will come "tomorrow*"



*Alas, tomorrow never comes

MeteredOut

Emmia said:

ReadySteadyPop said:

Emmia said:

restless6 said:

silvercar said:

restless6 said:

Sorry for not explaining thoroughly - I don’t need a school place … my kids are all older . But one of them works in a school - so would
need to make the move during holidays . Also one child would be moving from college to uni - so also affected by term time . 

Thanks  

They aren’t affected in the same way. Unless you are moving so far that the elder couldn’t commute to the old job, in which case they would need to rent / Airbnb/ sofa surf for a few weeks. The child at uni could be away while you move their stuff, they don’t actually need to be at home.

Both will be living at home so that’s why we have tight time scales . 

I'd probably avoid the companies and price the property yourself competitively - going £5k or £10k under equivalent properties might be enough to get you a quick sale.

 Very unlikely that demand in most areas is that frantic nowadays.

It is just a suggestion... that discount could be tweaked,

RSP you're famous for predicting a crash will come "tomorrow*"



*Alas, tomorrow never comes

That's a tad unfair. He's successfully predicted 173 of the last 1 property crashes.