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Part Exchange - advice for negotiating?

3 replies

DurhamMommy · 04/06/2020 14:56

Hello, we’re considering a part exchange with Taylor Wimpey. The house we’re interested in, is already built and includes some upgrades and appliances. It’s been listed for sale since January. It has a north facing garden, and the front of the house faces what will eventually be a landscaped drainage basin but is currently a large muddy puddle. So all that’s to say that, we think it would be a reasonable property to expect some concessions on. I was wondering if anyone else has had some luck, in this type of situation? Ideally I’d love them to come down in price and cover stamp duty. Our current house isn’t on the market yet but is in a popular village so we would expect it to sell easily, we were looking at part exchange because it is just a bit easier, especially when we’re remote working and homeschooling at the same time! Thanks for any advice you can give or experience you can share.

OP posts:
Skykavin · 04/06/2020 18:32

Watching with interest, we're going to see a new build on Saturday with the option to part exchange Smile

ChipotleBlessing · 04/06/2020 19:51

I think at the minute, you won’t get anything on top of part exchange. If you want them to reduce the price or add extras you’d be better off getting an offer on your own house first.

Pweization · 04/06/2020 20:43

I have recently been in a very similar situation. There are 3 houses left on a new build estate - all the same type of house. I was hoping that the builders would be keen to sell the houses when lockdown eased a bit. The builder wouldn’t consider a px on any property with a value of more than 50% of the new builds, which rules us out. They would pay estate agents fees if we went on the market for a quick sale but wouldn’t allow us to reserve a house if we went down that route - so why would we??? One of the 3 houses has sold, the other 2 have been reduced In price. Good luck OP

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