Part exchange

[GrumpyOldBagFace]

Has anyone part exchanged their house for a new build? What sort of price did you get compared to the property value?

Our house is worth £160,000 but isn't selling. Any ideas what sort of price they might offer.

Yes we did 6 years ago.

We were pleased with the valuation and when they sold it, it sold for the same price that they gave us.

I guess you have to know your market well to know if it’s a good offer.

Did they offer similar to the actual value?

My Aunt did it. She had to get 3 valuations. The difference is they ask EAs for valuation to sell quickly ie one month. But then she got free legals and carpets, so not as much of a drop in price overall.

Dont think theres any obligation, so why not just have valuations? Or ask your current EA what price they would give?

We've been trying to get valuations but the company they put us in touch with are a bit slow and we need to make a decision soon to rent it back out!

Marking place as I’m interested in this!

I dont know what price they offered but I knowit wasnt too low and saved a lot of hassle as it sold quickly at the new price, they could make plans and get on with life. Your current EA could give you a revised price for a quick sale.

Does the house have to sell before they part exchange then?

I thought they just bought the house from you - well, deducted it from the price of the new build?

Yes it was the same as market value as we got other valuations too.

We didn’t have to wait to sell. We were in within 4 weeks, which was super fun considering I was 6 months pregnant with twins 😆.

That's amazing.

I would say you're mad to move while pregnant but we've moved 4 times during my 2 pregnancies!!.. one of them an international move.

I really just want a house of my own now.

There are different schemes with different builders and depending on whether the new build is ready to be moved into.