Part exchange “extra”

[Question10]

I’m shamelessly posting here for traffic. Has anyone had any experience with buying a new build and them offering to part exchange your property but giving you the “extra” chance to sell it to a third party and keeping any profit ?? I’m trying to do this and it just seems really dodgy and “too good to be true”.

Yep! We done as you’ve described. The third party was going to give us nearly what we wanted until the last minute they dropped the price they’d pay for ours by nearly £30k! Be very wary of the new build exchange offers

Thanks for your reply highland ... this is my fear. But my bigger fear is that the developers will only give us until a certain date to get our third party buyers to exchange... then we are tied into taking what they’ve offered us 🤦‍♀️
How did it work out for you?

We did part exchange on our new build 4 years ago.

We had a minimum price in mind and the developers offers us 5k over that.

We also got a 1k ‘bonus’ as it sold stc before we completed on the new build.

I saw later in Rightmove that they actually sold our previous house for 5k less than they gave us.

Personally, I think we did ok for the lack of hassle.

Not heard of the ‘extra’ scheme though so not much use to you. Soz.

We’ve done it twice and no issues either time.