Part exchanging

Discussion in 'New Build Buying Advice' started by Woody24, Apr 25, 2016.

  1. Woody24

    Woody24 New Member

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    Hi. We are part exchanging because we thought it would be straightforward and easy! They offered us 10k below the valuations but we said okay for easiness and they sold our house within 7 days for the full valuation price and had two offers on the table. We have now received an 'extract' of the homebuyers report from the builder none of which are immediate actions and they have literally highlighted everything and said they want it all rectified, even though the front page says that this is just an overall summary of the property and the price the builders have paid is fair given the work needed. I am livid to say the least. Does anyone have any experience in negotiating this as it is completely unfair?
     
  2. T1985

    T1985 New Member

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    What builder have you part exchanged with?
     
  3. NewHomeExpert

    NewHomeExpert Well-Known Member

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    That's a turn up, a housebuilder giving a buyer a snagging list!
    Tell whoever it is it is "sold as seen" and the price agreed is below market value.
     
  4. T1985

    T1985 New Member

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    If he says that they will probably keep his retention money from part exchanging
     
  5. Pepsimiddleton

    Pepsimiddleton New Member

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    What are the items they are asking you to rectify?
    The price the builder pays for a PX is based on a 4-6 week sale price so that they can sell the house on quickly. In your case they have struck lucky but in many cases they have houses hanging around as stock and have to sell at below what they paid for it.
    You could try and negotiate, it depends on what's on the list?
     

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