As the title. Has anyone part exchanged their existing house for a new build development? Did you get roughly want you wanted, or was it a low ball offer? Did you then manage to negotiate the price of the house you were buying?

Wife and I have seen a house we like – but it’s right at the top end of our budget and we’d need to get the top asking price for ours to be able to afford. Part exchanging seems the easiest option, but I’m guessing we wouldn’t get that top offer. The alternative is to put it on the market now and cross fingers that we’d be able to get a quick sell.

We did it last year.
We’d had our house on the market for a couple of months at £145k and had had several viewings, but no offers.
Then for some reason we decided to look at some new builds nearby thinking they’d be well out of our budget. But found one we loved for something at the top end of our budget.
We applied for the part exchange, they call you and go through all your finances to see if they meet their affordability criteria. We did, but only if they offered us the full £145k we were asking. So they get three local estate agents to come and do a valuation and then make their offer based on that.
We knew as our house was already on the market and it was the same local agents that did the valuations.
I didn’t want to get my hopes up, but they did call a week or so later and offered us the full £145k! I couldn’t believe it.
They were obviously taking a bit of a hit by offering that, but I guess they work out what they can afford to lose.
Turned out in the end they sold it for only £130k, so I like to think we won that one!

When we sold our last house it wasn’t shifting & my Wife was keen to consider part-ex with a new build. It was a house on our shortlist and perfect for our needs, but I wasn’t sold on the location.

We got them to do the figures & said that they’d aim to have our house sold in 4 weeks max & we’d have to be out & ready to move into the new house in that time….
…..they did the valuations and basically lopped almost 20% off the asking price of our house. I called them about it and said that it’s hardly a surprise that you’ll sell it if you are basically giving it away……but they were adamant that was the only way to shift it & wouldn’t budge on dropping the price of the house we were buying to recoup some of the loss on our house. So we told them to stick it…..

Our house had been on the market for ages, so with hindsight I do wonder if they knew that and were hoping we’d just take any offer to get it sold……

The number of new builds in the pipeline around the nw is staggering, assuming they all offer px to shift them i would be looking for a top deal to protect me from any downturn. Problem i see is all the new builds will come to the market at roughly the same time.

Yep done px. Got exactly what we wanted and needed both on selling and purchasing. Go in with the offer that suite you the best; basically the moon on a stick. Then be prepared to back away from that slightly.
Also explain why you need x for house to allow you to buy theirs and it often becomes clear.
Final bit of advice have a look when their year end or 6 month end is. You would be amazed what discounts you can get. We got 12% off the house we wanted…

Did this last year. Had our previous place up for sale for 18 months. Lots of viewings, but no offers. Had a second baby on the way & so needed to move pdq.

Got what we needed on the sale and a good discount off the new place. Expect them to rush you. Dave’s point about financial year end is very valid – both in terms of being able to get what you need to make the deal work and how much they’ll try and pressure you. Ignore them, they’ll try all ways to make you complete by the FY end date. I laughed down the phone at them – my wife was 40 weeks preganant and they were asking demanding that we move the next week.

Its definitely a buyers market right now (irrespective of what the press says about housing shortages – ours was empty for 6 months) with many of the big builders still reeling financially after the brexit vote. In fact the morning of 25th June saw most of the big plant disappear off site here and not return since.

Our old house took a further 12 months for them to move on – they lost £25k over what they paid us.

Yes about 4 years sgo and yes we got a figure we were happy with .

Lots of positive experiences then. Feeling confident!