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Persimmon - Part Ex
anon_2019
Posts: 3 Newbie
Hi,
Just wondering if anyone has ever 'Part Ex' their home to Persimmon?
The main query I have is do their valuations come back substantially below market value or are they quiet reasonable?
Of course this option would be preferable as there are no fees or delays involved but I wouldnt wish to loose out heavily on market value.
Thanks in advance
Just wondering if anyone has ever 'Part Ex' their home to Persimmon?
The main query I have is do their valuations come back substantially below market value or are they quiet reasonable?
Of course this option would be preferable as there are no fees or delays involved but I wouldnt wish to loose out heavily on market value.
Thanks in advance
0
Comments
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I wouldn't buy from Persimmon, yet alone part-ex
https://www.channel4.com/press/news/britains-new-build-scandal-channel-4-dispatches0 -
They generally ask for three local estate agencies to come back with a price to sell in six weeks using comparables. This could be 95-98% of market value - but quite often EA's overvalue or do not use comparables.
Best thing is look at recent actual sales prices on similar houses close by to determine market value and not the marketing prices on RM or Zoopla etc.0 -
We part exchanged with David Wilson Homes in April.
We could have got about £10k (10%) more for the house had we sold it privately. But when we weighed up the costs we would have had to pay to sell our house which the developers paid, the stamp duty which the developers paid and a few other bits, deposit contribution and moving costs we decided it was a good deal and took the part exchange offer.
So it isn't the headline valuation you need to consider but the full deal.
For us it worked out great as from reserving the plot to moving in was over and done with in less than four weeks.
We had no worries about selling our existing home, which as it turns out sold again within days of the developers marketing it (while we were still in it) and we secured the home we loved and now thoroughly enjoy living in.0 -
We part exchanged with Persimmon many years ago. They sold the house in between us agreeing the part exchange and moving into the new build.
This was, as noted, some years ago but we got 97% of the money they sold it for. We also got incentives so overall were pleased with the deal, and fortunately we didn't get issues with the property like so many others have reported.
It was a smooth and relatively pain free process0 -
I did a couple of years ago. I had a good idea what my old house was worth, as I lived in a road where every house was exactly the same, so there was a good history of sales prices.
I ended up with about £3K less that I would have wanted, but with no fees to pay, and a lot less hassle.0 -
I would check if you what you are part exchanging is better than what you are buying , this is a recent new build - with built in alarm clock!!
https://www.kentonline.co.uk/canterbury/news/midnight-collapse-at-new-build-home-211009/0
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