We’re looking at a new build house, and the builder’s offering a part-ex ‘offer’.

The house we’d be selling isn’t lived in by us, but the tenancy is up soonish..

Has anyone done this?

I can’t help feeling they’ll offer way below market value, or make it ‘less favourable’ for me somehow! I mean, they’ll end up with a house they don’t want won’t they!

I’m sure ME selling our house, and acting as a ‘cash buyer’ would be best…won’t it??!!

DrP

2 good recent threads on this. Search will find.

Friend of ours had a couple of sales fall through and was about to drop the price, they had the part ex valuation and it was higher than they were about to drop to. All went through very quickly once they accepted (more than can be said of ‘normal’ buyers)

I’d serious consider if I was moving to a new build. Get them to offer, the worst you can do is say no thanks.

When we did ours a few years back they sent round three local agents then used the average to come up with a price,we agreed sign the paperwork to start it all and 10 weeks later moved into new house

P.s the builders then couldn’t shift our old house for love nor money took them 8months and up for auction three times and lost a shed load of cash on what they offered us tee hee 😀

Dr P, email me, we did this with our ne place very seccesfully.

To be fair they probably made a shed load of money off you on the new build you bought.

We did it 3 years ago, builders arranged the sale with a separate company who gave us a reasonable price following 3 separate valuations. The price we got was probably 10k light of what we’d hoped from an open market sale.
The builder was having difficulty shifting the new builds at the time and they had reduced in price a fair amount anyway.
Two weeks before completion I retracted the offer we made on the new house then put in an offer 15k below my first offer…….as the builder was desperate for the sale he accepted my reduced offer so anything I may have lost with the part exchange price was more than made up for what I ended up paying for the new build.
The house I sold was nearly 100 years old and had major issues with the roof which would have almost definitely halted one or two normal sales following a survey so taking that into account I was well pleased.
My point is that it depends on market, what you are selling and how flexible the developer is.
Our sale took 4 weeks from reserving the property to moving. You may actually put yourself into a stronger position to bargain with the developer because if you go down the part exchange route you are a better option for them because there are less issues with the sale of your property and therefore more chance that the deal will go through quickly.
Did ours through Miller Homes btw.

Cheers for the info 🙂

The house we like is just a picture and a plot at the moment, so wouldn’t move in until December..thus a bit of time to play with..
However, the reservation needs to be made with the ‘sale plan’ stipulated…

I think I’ll get the ball rolling as I can always say ‘no’ to the px.

The tenants MIGHT be interested in buying the house, so I’m sure this would be an option too…..

DrP

Two weeks before completion I retracted the offer we made on the new house then put in an offer 15k below my first offer…….as the builder was desperate for the sale he accepted my reduced offer so anything I may have lost with the part exchange price was more than made up for what I ended up paying for the new build.

That is just wrong.