Part Ex with Barratt

Is_You

Has anyone recently done it? We did it 15 years ago and got a fair deal. We are planning to do it again and having a valuation this week, but have a feeling they will offer us lower than we want.
Just wanted to know if anyone has done and been offered other incentives from them. Ideally I would love for them to pay my 5% deposit as well as PX, but that is wishful thinking! Where we are buying, they have sold all apartments but only just released the houses.

plane_boy2000

My partners grandmother did it about 4 years ago. She got a good deal and it worked well for her. She bought her old house 30 years ago, but as time had gone on the little road outside became a dual carraigway. You can imagine how much luck she was having trying to sell a family sized home. Anyway, from memory they offered her somewhere near what she was asking for it, but the house she bought was a cancellation and they were keen to sell it ASAP. Think she got a few other bits to like carpets.

jillybobs

We're also hoping to part-ex our home this year with Persimmon Homes so I would also be interested to hear peoples stories. They are about to start building the last phase on the estate on which we currently live so would hope they would consider accepting ours as "part-ex". Just waiting for them to release the prices!!! Please let us know how you get on with your valuations as I don't know anyone who has ever part-ex'd their home before so have no idea on if they pay you far amount!! Good luck.

Is_You

The last home we bought was Persimmon, we didn't part ex, but just to let you know we had no problems with them at all. Very happy with the whole process and so stress free.

jillybobs

Is_You wrote: »

The last home we bought was Persimmon, we didn't part ex, but just to let you know we had no problems with them at all. Very happy with the whole process and so stress free.

Thanks for that, thats good to know. I'm just waiting very impatiantly for them to release the prices!!!! They are building an additional 53 homes - there has to be one there for me!!!!!

draker

Hi there,

We too part exchanged with Persimmon last year and was very hapy with our deal. Our house was on the market for a number of weeks before we struck a deal with Persimmon and we had a number of estate agents around to value the house to give us an acurate idea of its worth. One thing to remember is that the builder will offer you a quick sale price, which will be slightly lower than what some of the agents may value it. However, you won't have to pay any estate agnets fees and there is no stress. I would strongly recommened that you speak to the sales advisor though as the builders may not release houses for part exchange until they get past a certain build stage, as it is always better for them to sell to cash buyer or someone who is already sold subject to contract. I think our new house wasn't realeased for part exchange until it had reached the roof stage of construction.

You also need to be aware that by part exchanging you probably won't be able to get the best discount off the new house too. Our deal worked out really well for us and it was really satisfying to read on the sold price websites that Persimmon had only sold our old house on for the same price that they offered us.

Persimmon also paid our legal fees and stamp duty and knocked a further 10K off the new house, but as always this was probably already factored into their margin.

Speak to the sales advisor as it's in their best interest to get a deal struck that's right for both parties. You just need to be aware though that Persimmon's year end was 31st Dec, so the best deals and discounts have probably gone.

Good luck

Cheers

Stu784

Hi all,

We looked at a Barratt home at the weekend & they have talked to us about part exchanging however they failed to be able to answer what the typical valuation % would be on our house. Can anyone please advise, if they have done this or a looking to do this, what the valuation is/was they received.

And did you go ahead?


Thanks

JoJoArmani

Stu784 wrote: »

Hi all,

We looked at a Barratt home at the weekend & they have talked to us about part exchanging however they failed to be able to answer what the typical valuation % would be on our house. Can anyone please advise, if they have done this or a looking to do this, what the valuation is/was they received.

And did you go ahead?


Thanks

Hi

I have agreed a pert ex with Places for People. They initially offered me £83k for my house (on the market at 95K). I asked for a discount off their asking price of 140K as otherwise I couldn't afford it. 10 days later I got a call saying they would not budge on the asking (I have read they try to keep the ask as high as poss for land registry etc etc) - but would offer me an extra 4k for my house.

In all honestly I think we would have got a buyer if we reduced our house to 90K - but then after agents fees & legal fees etc we probably would not have come out with much more that the 87K we have got....

Its worth a go - but only if you can't sell... seems you can barter a better deal if your house is already sold....

Best of luck!

janetv

We did it ten years ago, buying a Barratt newbuild and part ex-ing a 2 year old home from another developer. At that time we got a fair price on both properties and it was pretty plain sailing.

We have recently tried to part ex that Barratt house for a house about 20 years old, but bigger than ours, that Barratt have taken in part ex for a new one of theirs. However, we feel the initial offer they have made on our house is too low, and we don't know yet whether they'll budge on that, and/or drop the price of the other house. I will keep you posted.

mark5

We done a part ex with Barratt in 2006 and they give us £90000 for a 5 year old Persimmon mid link house which we were told by a local agent would sell for £95000. Factor in estate agents fees of £1500 and it wasnt a bad deal for us.
We give £216000 for the Barratt house which was a fair price at the time.

skhwoody

We are looking at a Barratt site at the moment. we were toying with the PX deal as it takes all the stress out of moving (we have done three in the last 15 yrs). The house we are looking at is a 4 bed detached priced at £240,000 and ours is a 4 bed detached persimmon which is 9 yrs old and valued at £200,000.

However they (and persimmon also on the site) state they will only offer a maximum price of 30% discount from the value of the house i was wanting to buy which means 30% of £240,000 is £168,000, meaning they are offering £32,000 under market value for our house in px.

I was told this is the minimum and it was intimated that was non negotiable. So we are thinking of using their agency sellers to try and get nearer to the £200,000 mark and save a fortune on the mortgage......

anybody got any advice on this and what i should do, i am intending to try and ask for a discount on the house or other incentives anyway.