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Part Exchange offer from Builder

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maddapple
maddapple Posts: 54 Forumite
in House buying, renting & selling
We are interested in a new build property and as we have our own place to sell we took up an offer of a part exchange valuation, the offer the the builder has made is very low compared to other valuation on our property and previous selling prices on neighbouring properties, so we are going to reject the offer.
Does anyone know if it’s standard for the builder to make additional offers or would it tend to be a one off take it or leave it offer?

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  • tt07
    tt07 Posts: 98 Forumite
    Photogenic First Post First Anniversary Combo Breaker
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    It is generally lower than market rate as they will want a margin and protect themselves from needing to drop the price to sell, we recently had a p/x offer and estate agent fees paid deal, we were able to keep the house on market until roof on, if we sold before then for we could take that but always had the PX fall back, we also negotiated incentives so that numbers wise we got what we wanted for our house although the PX was low numbers it was made up by incentives

    Fortunately we sold it and got a touch more than p/x so it’s worked out nicely.

    I got the feeling the p/x price was not negotiable, we did get movement on other incentives which helped take the sting out the lower offer.
  • maddapple
    maddapple Posts: 54 Forumite
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    Thank you for your reply, I do realise that they will want to protect themselves but on this occasion the difference between offer and other valuations/sales is £45k, and that just seems a little excessive.
    But if that's the final offer then so be it.
  • gardner1
    gardner1 Posts: 3,154 Forumite
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    Its like buying a new car. ....dealer will make low offer for your old one and if it is a good offer the new one is overpriced
  • tt07
    tt07 Posts: 98 Forumite
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    maddapple wrote: »
    Thank you for your reply, I do realise that they will want to protect themselves but on this occasion the difference between offer and other valuations/sales is £45k, and that just seems a little excessive.
    But if that's the final offer then so be it.

    That’s a huge delta or an expensive house your selling :rotfl:

    You’d be going some to manage that gap with incentives!
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