We are part exchanging our house for a new build. The builder as completed the TP1 form stating we are receiving x amount for our house in panel 9. Our solicitor says this is wrong as it is a part exchange so we will not actually be receiving x amount. We are getting that reduction off the new house and paying the difference. We are now at stalemate with neither budging. We are meant to be exchanging and completing tomorrow and my stress levels are through the roof.
So who is right? Our solicitor thinks the builders approach is at best illegal and at worst fraudulent. However the builder who does hundreds of part exchanges says this is the way they do it and they are not budging. Meanwhile we are stuck in the middle 