Buying a 'part - exchanged' house from a developer.

[pinkje]

I found out today that the house I like is being sold on behalf of a developer that acquired it in a part exchange. What do you think they'll accept with respect to its value? It has been listed at a guide price of 795k (with a value of 800k) which doesn't seem much of a discount.

Any advice is welcome.

We just bought a part-exchanged house off a developer. They were very unwilling to negotiate. We had to offer the asking price to get it, and they incredibly reluctantly gave us £2k off following the survey. Our solicitor was amazed they gave us anything off. They were total bastards to deal with, but that probably isn't representative of developers as a whole.

Our house was considerably cheaper than that one though. It had been part-exchanged at £230k (although that's mostly bollocks, as the developer was inflating the part-exchange value to inflate the sold price in the new build). It was on at £219,995 and we eventually paid £217,995. It wasn't necessarily a bad price though, so we're happy enough.

All I would say is go ahead if you are ok with not getting an awful lot of change from a £1m ( with all the other costs/ stamp duty included )