Barratt Part Ex-change

rowsont

I'm looking into the possibility of part exchanging my house to buy a Barratt house, how-ever I don't have any idea what they are likely to offer, I had a number of valuations done prior to putting the house on the market 6 months ago. The offers varied from 137000 up to 150000, I ended up putting the house on the market for 143000. Barratts want to charge me for getting their valuation done, and obviously I'm not expecting them to come back and offer me the asking price, but I am interested if anyone know how close they might offer. The house is imaculate, as I had a survey done not so long back and addressed everthing picked up by the survey, all these points were addresssed and new carpets fitted through-out and the house fully decorated.

Any one got any ideas or thoughts?

Merlot

Hi, I lived in a 10 year old Barratt home, and I wanted to move to a new Barratt new build, I got Barratt to do a survey on the old one and it came back at £139.000, I thought that was too conservative, I put my house on the market for £149,000 and it went two days later for £155,000, (2 people offered the asking price, so it went to final offers) this was a couple of years ago and a tiny tiny 3 bedroom house and in a nice location.

My advise to you is sell privately, and if no offers within 1 month, then reconsider your options, I would only use Barratts part exchange if there was only one house left on the new scheme and I wanted it desperately. How are houses in your area selling?

rowsont

The house is not really shifting, it's been on the market 7 months I don't think it's over-priced, it's comparible with other houses in the area. I have accepted 2 offers in the last 6 months both have fallen through. Am just really looking at options at the moment, just interested to know roughly if part ex is a viable alternative to getting ride of the house??

Merlot

Have you had any feedback from viewers. 7 months is edging on a long time in my area to sell a house, but with the "sub prime" crisis we are experiencing just now, I think 7 months is ok, and the winter months are always a little slow if you live outside of London. I would hold off until the Spring if you can, if no takers get Barratts to give valuation, or get Barratts to give valuation now, but they just may be conservative with the price if they know you have had it on the market for 7 months. I think Barratt charged us approx £150 for the survey, can you afford that?, if so, you have nothing really to lose, and they might give you a good price.

If Barratts come in to low, tell them that you have had your own valuations from EA, they might just increase the price a wee bit, especially if the new build is rather expensive, they will be suffering a wee bit too just now, Mortgage approvals were at a record low in December 2007 since records began in 1997, I have just read on BBC website.

merlot