part ex on new homes - anyone done one?

[hophophippidtyhop]

Anyone part exchanged on a new build? Wondering how it worked - did you have to take a percentage off your house valuation? Did it not make much difference as usually there's no estate fees? Going to post and run as i really should go to bed as I'm at work tomorrow. Check back sometime tomorrow!

We did this years ago (1992 ish!). House prices had just crashed then as well.

You can negotiate. They got a few valuations on ours and gave us middle price. We said we couldn't buy their home if not get enough for ours. They then sold ours for LESS than they gave to us - which was a bit annoying as they went for quickest sale poss and we thought they could have given us a bit more discount from the new house and held out for a higher price on our old one. It made us think that if we had sold ourselves they may have come down a lot more on their sale price, but who knows. It is less of a headache than doing it yourself.

It's funny that you still have to show people round your house when you are not bothered what they pay for it as your prices have been fixed.

They were a bit funny on moving day. We moved in without anyone moving into our old house - which SHOULD have been easy as we were moving around the corner. We were doing it ourselves with friends and wanted to take several trips with a small van. However, they wouldn't give us keys to new house until keys to old house were handed in to agent (who told us later we should have given him one and kept one for us until end of day). Ended up piling stuff on lawn & in garage of new house until old house empty.

I did this in 2000 - it was fantastic! I ahd 5 days to move out and the builders actually paiod more for the house than had been previously offered! They alos gave us £250 for keeping the hosue tidy to show people round, another £250 for leaving it clean and another £250 for something else which I can't remeber - the £750 was sheer profit! made ife much easier!

Thanks for your replies. My childminder has done this very recently, haven't asked her about it and wasn't sure about asking money based stuff. Made me wonder about doing it if something came up as it seemed to take the stress out of finding a buyer. We're in an old victorian terraced place at present, have recently accquired some unwelcome mice and it made us think, " right, want a fully sealed against elements new place!" Don't think we'll move yet but the part ex might be an option with the way the market is at the moment.

YOu'll pay about 30% over the odds for a new build and they offer you 25% less than the middle estate agents valuation in ouur experience.
Since if we were going to loose 55% in total we'd rather give it to a young family than a major corporation, we didn't go ahead.

we got a good deal. fair price for the one we bought and they gave us market value for ours. job done. easy.