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Part Exchanging your House.


villapark1
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hello everyone,

Has anyone on here ever part exchanged their house with a building company to upgrade to a new build?

Myself and my wife are really considering this option as we really cant be doing with the stress of selling our house and dealing with time wasters and worst of all estate agents.

From what I can make of it there are pro's and cons for part exchanging and selling private first.

Benefits seem to be selling with no fuss,

securing the property that you WANT and not stressing it could be sold whilst trying to sell yours private,

Gives you time to prep for move, could get keys a few weeks early to start moving furniture etc,

No-one to pull out of the chain leaving you in limbo.

Not having to deal with and chase estate agents.

Quick move, could be as quick as a month.

Disadvantages:

Not getting full market value for your house (anything upto 10% less than market value),

No real scope for manouver on the price of the house they are selling to you.

Other than those 2 I cant really think of anymore disadvangages to part exchanging your house. and with the first one about not receiving full market value for your house, there will be no estate agent fees involved so its not as bad as it sounds.

Was just wondering if anyone on here has done it or got anymore advise about it?

Cheers all.

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also interested in this, the big downside seems to be massively over pricing the new build houses. New builds around by us have continued to rise in price, completely against regional house prices. Buying means you will pay list price, everyone else will be negotiating 10-15% off at least.

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I have part exchanged my house quite a few years ago now, and you have pretty much summed it up in the opening post.

A few words of warning for you regarding the new house. They are not as stress free as you would imagine, and the build quality isn't always very good. The windows in my new house are terrible, they just don't feel very solid.

You will pay over the top for your new house if the new houses around me are anything to go by. For example, they have built some new houses near me that are of similar size, so we had a wander down to have a nose around. We were shocked when we asked the price. We would struggle to sell ours for £140-£150k at the moment, whereas they were asking £190k for a similar house. I was expecting it to be around the £165k mark.

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New build houses are shite.

Don't ever buy one.

They really are the most appalling waste of money ever conceived.

Unless you do self-build, in which case you might have some control over what you are getting. Otherwise, it's just passing good money to an amoral thieving oaf.

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