Part exchange wainhomes

[Nobodyknowsitall]

Hi,

We are considering part exchanging for a new build with wain homes. Has anyone got any experience of this? I feel nervous that I might get ripped off. Thanks.

Have never heard of Wain Homes and have not PX'ed a house however a family member has and said it was a good solution for them.
Yes, you will probably get less than putting it on the open market but it gives complete peace of mind and removes all the stress of selling, chains collapsing etc and that can be worth a lot.

My family member said that their old house went on the market immediately they moved out and yes, the developer made a not-insignificant profit but by that time they were not worried as they were in their Ned home and appreciated how smooth it made the whole process.

We are buying by with the developer currently and tried the part ex but their offer was too low. Valued at 210k and they offered 195k we asked it they would pay stamp duty which would mean saving us 5k and they said no. We used their move maker scheme instead.

That's really good to know. 15k less than the asking price Is really cheeky of them tbh! I'm fully expecting the same sort of low ball offer. What development are you looking at? I think if we get a too low an offer then we might just cut our losses and look elsewhere.

We had an offer on part-ex back yesterday. I'd been told they offer around 90-95% of value and the offer we got seems to fit in with 90%, which I think is around £15k under what I think we could get selling on our own.

They did say we could maybe get £10k more with their easy mover scheme but I'm trying not so much to look at the figure they're offering and instead look at how it ties in with what we'd get.

They mention a possibility of reducing the price on the new place by £5k when I said their offer was a little under what we wanted. It's still top of our budget though so I might push on it and see how far they'll go with incentives.

Thank you so much for getting back to me? Can you switch across to the move maker and still reserve the house? Thanks x

It's Taylor Wimpey I've been dealing with. They explained we could reserve the property if we go with easy mover yeah, but then they expect easy mover properties to market at a price that will sell within six weeks. I'm not so sure what would happen when we need to be out and our buyer needs to be in, that's aspect of it doesn't sound as appealing as part ex to me.

@Nobodyknowsitall North West location how about you?

I guess it also depends how well the properties are selling on that development and how close to sales year end they are too.

Same! We are looking at the new mills one. I've been eyeing it up for a good while now. Had the valuations done today so hopefully we get a decent offer on Saturday :) x

Where you able to switch to move maker and still reserve? @closedbook2 xx

Oh fab yes that's not the same one as me. Yes as soon as we rejected the part ex offer we just asked could we swap the reservation fee to the move maker and they said yes and then the selling agent (who have been brilliant) called us on the Monday and got it up for sale along with putting it up with the other estate agents too.

Oh but we were not allowed to actually reserve the plot until we had an offer though sadly

You have to weigh up all the other costs involved with moving house like estate agents, surveys etc. Also the chance of your buyers pulling out at the last minute.

Thanks all! I'll defo consider a reasonable offer. I need to consider that stamp duty is going up aswell so will save on that if we move quickly xx.

@Nobodyknowsitall I have sent you a PM

Hi, We've just pulled out of a part ex with Wain Homes.
They offered more than 15% under the market value, meaning we could no longer afford to proceed.....plus they've kept our £500 deposit due to us pulling out of the deal!

Just another greedy home builder!

We accepted their offer because they added in incentives such as floors throughout and an upgraded kitchen. I'm nervous that they will try to knock more money off when they do the survey. I'll be pulling out if they do. Which development were you looking at? It is shocking that they have taken £500 reservation fee off you before they gave you their offer. Its disgusting :( x

We reserved the house with our £500, then our sale fell through, following that and because our completion date was fast approaching, we decided to go down the part-exchange route.

Once the valuations had been carried out (they used out own estate agents valuation and one other, which valued at the same price) they then offered us 25k under the market value.

When they were justifying their offer, they showed us houses that had sold in our area, one which sold in 2012 and another in 2015....I kid you not!

Once we said we couldn't do the deal at the price they were offering, we never heard from them again, months wasted and wife really upset.

Shakespeare at 325k
only extras being offered were a dishwasher and washer dryer.

Linley Grange, Stalmine, northwest

Hi, did you go through with the New Mills purchase? Did they accept an offer on the sale price? We are looking at the same development. Thank you!