deanmcreynolds26
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Registered: 15th Sep 03
Location: E46 //M3
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Anyone ever tried this?
theyve got a development down the road with a nice 4 bed house and double detached garage that i would really like.
since buying my current house weve done a lot of work new kitchen bathroom whole house plastered, monoblock driveway, landscaped back garden etc etc..
we have spent a few quid on it. im just worried about the state of the market and us not being able to sell up quickly and thought this may be an option...
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John
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Registered: 30th Jun 03
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The things you've done won't have made much of a difference to the price. You can only get a certain percentage of the new house, for example if you buy a 280k house, they will only give you at a maximum 190 for yours.
Also, what house style, definitely not a 1.5 garage?
[Edited on 11-04-2013 by John]
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AndyKent
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Registered: 3rd Sep 05
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No idea how these schemes work, but wouldn't trust a major housebuilder as far as I could throw them.
I would expect a totally low-ball offer regardless of what you've done.
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Kyle T
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Registered: 11th Sep 04
Location: Selby, North Yorkshire
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Local new build estate near us are offering partex for whatever value we get from an approved RICS valuation(?). They will only pay if like John said there is at least a certain step in value.
They make up for it by selling you an overpriced house mind!
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deanmcreynolds26
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Registered: 15th Sep 03
Location: E46 //M3
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someone my mum knows this has done it,
2 estate agents valued her house (on behalf of taylor wimpey) there was a £20k difference between the valuations.
home report was done which was at the valuation of the highest estate agent, Taylor have agreed full part exchange she moves into her new house in 2 weeks regardless if her house sells or not its now owned by the builder.
John - defo a double detached garage - munro 2
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deanmcreynolds26
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Registered: 15th Sep 03
Location: E46 //M3
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also there has to be £100k difference iirc between current house value and the new house
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baza31
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Registered: 19th Apr 03
Location: yorkshire
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Start by going to bank and seeing how much you can borrow . What did you pay for yours and how much is the new place?
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Colin
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Registered: 4th Apr 02
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They get prices from 2 local agents with a view on selling within 6-8weeks, then offer you 95% of that. You also are excluded from any other incentives, freebies, money off etc
By far better off selling your own then going in to barter with no chain.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by deanmcreynolds26
also there has to be £100k difference iirc between current house value and the new house
iirc its a minimum 30% lift. So the PX can be no more than 70% of the value of the new home.
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John
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Registered: 30th Jun 03
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quote:
Originally posted by Colin
They get prices from 2 local agents with a view on selling within 6-8weeks, then offer you 95% of that. You also are excluded from any other incentives, freebies, money off etc
By far better off selling your own then going in to barter with no chain.
That's mostly (all) incorrect from my experience, apart from the 2 estate agents part.
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JayCarr
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Registered: 19th Dec 02
Location: Cambs Drives:M3 & X3
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I part exchanged my apartment for a David Wilson house. 2 estate agents valued the apartment at 125k so David Wilson took 125k off the price of the new house. No selling within 6-8 weeks or any catches etc. Some builders do have shocking part ex deals tho (persimmon being one!)
They also gave us lots of incentives, knocked 20k off the price of the new house, upgraded kitchen, fully tiled wet areas, can't remember the rest.
Was stress free, very easy to do and saved me having to pay estate agent fees etc. would definatley recommend it!
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by John
quote:
Originally posted by Colin
They get prices from 2 local agents with a view on selling within 6-8weeks, then offer you 95% of that. You also are excluded from any other incentives, freebies, money off etc
By far better off selling your own then going in to barter with no chain.
That's mostly (all) incorrect from my experience, apart from the 2 estate agents part.
Its all from my experiences of negotiating on a new build with taylor wimpey last week. They dont want the px, an offer of 21k discount is available on the house if I can shift mine 1st.
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John
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Registered: 30th Jun 03
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That's just in your case, possibly just your own house, that doesn't hold true for them all.
21k discount on actual RRP is a bit strange, they usually like to keep land registry prices high and give you the discount in some other way.
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Colin
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Registered: 4th Apr 02
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We didnt go as far as an estate agent appraisal on our house, thats just there policy & what was on offer, as usual cash is king. Yes there all different, charles church up here are offering 110% px on some plots.
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deanmcreynolds26
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Registered: 15th Sep 03
Location: E46 //M3
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quote:
Originally posted by JayCarr
I part exchanged my apartment for a David Wilson house. 2 estate agents valued the apartment at 125k so David Wilson took 125k off the price of the new house. No selling within 6-8 weeks or any catches etc. Some builders do have shocking part ex deals tho (persimmon being one!)
They also gave us lots of incentives, knocked 20k off the price of the new house, upgraded kitchen, fully tiled wet areas, can't remember the rest.
Was stress free, very easy to do and saved me having to pay estate agent fees etc. would definatley recommend it!
probably one reason im interested in doing this is for an easy life, plus id get a double garage lol
the thought of putting my house on the market and it not moving would really get on my tits, but i supose ill never know unless i try. i think i should maybe get the estate agents out and see what they reckon it will sell for.
the women said that this whole development is getting extras appliances, porcelanosa tiles and something else that i cant remember.
where are you looking at colin? staying near your current home?
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by deanmcreynolds26
where are you looking at colin? staying near your current home?
Just round the corner from where I am now, its called a Stewart, 4bed, 2 en-suite, 1.5x size garage.
Big enough while keeping the mortgage sensible.
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Kyle T
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Registered: 11th Sep 04
Location: Selby, North Yorkshire
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quote:
Originally posted by Colin
We didnt go as far as an estate agent appraisal on our house, thats just there policy & what was on offer, as usual cash is king. Yes there all different, charles church up here are offering 110% px on some plots.
Hmm a charles church rep in my town told us that 101%+ px isn't allowed by some laws/rules as of quite recently. Clearly liars 
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John
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Registered: 30th Jun 03
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If they give you 110% for your house they'll just cut it off somewhere else. You have to decide if you are getting a good deal or not overall, not if the headline figure impresses.
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by Kyle T
quote:
Originally posted by Colin
We didnt go as far as an estate agent appraisal on our house, thats just there policy & what was on offer, as usual cash is king. Yes there all different, charles church up here are offering 110% px on some plots.
Hmm a charles church rep in my town told us that 101%+ px isn't allowed by some laws/rules as of quite recently. Clearly liars
I cant see the deal on their site now so maybe not allowed!
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Toby
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Registered: 29th Nov 05
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I purchased my property from Taylor Wimpy which was the part ex I.e your house. They paid well under the odds and desperately sold to me even cheaper. If you can handle reduced offer then do it, comes with other benefits such as a smaller chain and if you use there solicitor they generally give discount and it tends to speed stuff up.
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mantamark
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Registered: 19th Jun 06
Location: Northumberland
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Sister has done this. 70% is correct. Offered market value and knocked 15k off new house. Moves in 1st week of june, her house is going to auction 30k lower than they offered her.
We looked into it but the 70% thing doesnt work for us, would knock 25k off value, and they cant accept less on new house as would mess the 70% value up.
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John
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Registered: 30th Jun 03
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They can work it whatever way they want if the margins fit.
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mantamark
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Registered: 19th Jun 06
Location: Northumberland
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Wouldnt budge for use. Market value for us is around 140k, house we liked was 190k, but similar ones have sold as low as 170k, but said they couldnt do anything for us. That was persimmon i think.
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