Low part exchange offer from Taylor Wimpey

[swedishmom24]

We are looking at doing a part exchange with Taylor Wimpey, which I've read good things about online, but disappointed by the offer they've made us.

They've offered 90% of market value. Our house is currently on the market for £500k.

Has anyone got experience of a low part ex offer from a builder? How did you negotiate/what did you counter offer, and what were you able to agree on in the end?

The property we want to buy is on for £780k, but they've already indicated they'd sell for £750k with barely even a batted eye.

With the low price they're offering for ours, we're thinking of counter offering £700k for theirs. It's cheeky, but it seems like there's quite a lot of room for negotiation.

The house is already largely built but they don't have a buyer, so they're very keen to sell.

there Is only a certain percentage they will go down by - join some of the Taylor Wimpey Facebook groups and you they will advise better. You’d be better negotiating on incentives, we got an 8k contribution to our deposit - free flooring thoroughout and turf also.

I just received what I consider to be a very good offer from TW - above what I was expecting and 95% of the independent valuations.

My current house value is < 50% of the new build price, and my survey highlighted no significant defects, which may have contributed to the fair and reasonable offer. I also got a generous deposit contribution.

TW will typically not offer the full market value , they offer a price 95 or 90% below a ‘selling price’ and not an ‘asking’ price so your offer may be based upon on a value less than 500k. What were the independent estate agents/ surveyor valuations ?

I am sorry that the offer did not meet your expectations having just gone through the process, I can imagine how dissapoited you must feel. There may be alternatives available , eg the EasyMover scheme or sell your house privately whereby you may be able to negotiate discounts on options in the new build ( typically builders do not discount the selling price of new builds as that could impact future sales, instead they may offer a deposit contribution or deals on options. Good luck and I hope you secure your new home.

We tried to part exchange with another builder a few years ago. Our offer was so low we couldn't accept it and there was no negotiating. However fortunately for us 5 days later we got an offer on our property that was so much better. We took great delight going back to the sales office and choosing our new home!

remember to factor in cost avoidance elements of part exchange (no EA fees, free valuations and survey). PX also removes the uncertainty of inconvenient move dates, and the risk of the chain collapsing.

Thank you all for your advice, especially about joining the fb group.

Unusually they have told me that they can't offer any other incentives because the part exchange is the incentive, but they can negotiate on the property price.

The sales person encouraged me to make them an offer they would work for us. Good to know they will consider 95% of property price.

Our house has been valued at £500k but sales are slow around here.

We did PE with TW 2 years ago. We got offered 90 % of the value of our house but they knocked about £20k of the house we purchased and agreed some upgrades for free e.g. waterfall showers and flooring to be included. At the end of the day as long as the price for yours allows you to purchase the next place I wouldn't worry.

TW then sold our old house for £45k more than they offered us and we got a voucher back to cover other upgrades for us so you could look to agree that with them etc.