new build part exchange deals

tentickles666

we havnt agreed on a development we like yet but thanks for the advice everyone

xxx

Matt_B_3

Hi Guys,

New recruit here looking for valuble advice.

I am currently in the process of buying a 'new build' property & am looking on anyones thoughts / experiences regarding negotiating. The current situation is as follows:

Asking price of new build property: £169,950

My current property as independently valued last week: £124,950

Developer's part exchange offer of against new build: £120,000 (+ the added bonus of no Estate Agents - possible saving of £2,0000)

Developer (Portford Homes) have also offered the incentive of floor coverings throughout, oven / hob, re-turf both front & rear gardens.

Should i be looking to negotiate even further & if so, what advice could anyone offer? (bearing in mind that my pertner does is worried that the developer may call our bluff). W have also put down £500 reserve fee at this early stage & would lose £250 of that if we were to back out, which will not break the bank!!

Any advice / experiences which may help would be welcomed.

Regards,

Matt B.

Natty082

Part Ex -

I was offered 85K for my apartment which is on the market for 118K.....

They increased it to 95K......

we wanted their house (on at 177K) for 142K....

walked away.... Never heard back from them!

SquatNow

helenathena wrote: »

need some advice..... we have had our house on the market for 6 months with only 2 viewings so we are discussing the pros and cons of buying new build and either doing part ex or the deal where they sell your house for you.

JUST DROP THE PRICE!!!!!!!!!!

Natty082

Treadmill - Just wondering how you are getting on with the negotiating for the property you were offered part ex on... (post above!)

x

Treadmill

We're currently deadlocked on the price, My final offer was 180K but they will only go as low as 185K. I've said I'll go to 185K if Stamp duty is paid (£1850) full carpets throughout (£2400 on their price list) Ceramic tiles to the family area/dining room (£600) plus free extra TV points and curtain rails.

Its been hard work getting the price down from £220K, but we are nearly there I think, at the stage we are at as the price reduction is above what the part ex manager can offer all decisions are going to head office so its taking longer.

There are people who would have you believe that the building companys are in such dire straights that you can stroll in off the street and get a 30% discount straight away but in my experience thats not the case just yet, especially when you are part exing a property.

Natty082

Well we were going to take up the part ex on my property... but it didn't quite go to plan - they had no idea what previous deals where and gave us a worse idea ... and then lead us on (See the complaining post if you can find it!)

Hope you get what you want for it.... must admit tho they aren't as desperate to sell as people think.... yet!