part exchanging property

Callyanna

I wondered if anyone has used any of the part exhange deals offered by some builders of new properties and whether they got a good offer for their old house?


also does anyone know if it is possible to part ex to a lower value property? (and therefore receive the excess in cash?)

cattie

Usually the part exchange is only available if you are trading up to a property with at least a slightly higher value than your existing one.

I believe the offers given by the major house builders when you do a part exchange are generally pretty fair.

Someone I know has traded up the property ladder in this fashion twice to date.

m00nie

i know someone who has just looked at part exhanging but it didnt favour them in the end,

The builders offered 10k discount (aswell as the usual carpets etc) if they bought it withoutout part ex

but with the part ex they didnt offer the discount and offered 5k less for their house than was up for,

they sold there house fo 2k less than asking price and got the 10k discount from the builders.

suppose it all depends on what the builders have to offer.

terrierlady

builders will usally arrange for at least two valuations on your property and then do an average, you will not get the price you are sitting on the market at, they usally go for a quick sale price so they can back to back your sale and purchase, they are in the bus ; of selling homes not buying them. Incentives are usally strong on difficult to sell plots or when the market is slowing, christmas time is a good time as sales normally slow down.
Convience is the key and a guarenteed purchaser, you can always try to negotiate once they come back with the price, usally carpets and turf are the main incentives used. Dont be put off if they say p/x is the only incentive keep asking and let them chase you.