Part exchange on a house

[SC00BY]

Hi,
I'm looking to move house. The market being as it is i'm considering part exing my property.
Its worth around £140,000 Typically what value of house would I have to go up to. I'm assuming I cant part ex for the same value!

Thanks

[Count-A-Strong]

And how are you going to fund all the associated costs. Surveys, solicitors fees etc etc.

[redcrx]

plus, if you do find a new build company offering any part ex at the moment then you wont get anywhere near the value that you place on the property. The builders will want to make money back to cover the inconvenience of marketting it and selling it on.

[cassa333]

I thought the big builders would be falling over themselves to PX. It is money in the back which is what they are looking for at the moment.

[redcrx]

its not money in the bank unless they can sell the property on though.

[annie0000]

When I ennquired some time ago, they were looking for you to increase by 30% the value that they gave on your house. So if your value is correct, then you would be looking at about £182000. It would be worth asking them though as the criteria may have changed. We didn't do it in the end as we didn't really want to upscale our mortgage and didn't need a bigger or more expensive house - we just fancied a move and thought that we might get a good deal without having to rely on selling our property.


Red, it's still money in the bank for them as they have the price difference between what they sold the new house at at what they gave you for your old one, this is why they insist on a price differential. Not obviously as much as it is when you buy outright and they don't have your property to sell, but enough to keep them ticking over.
Count, they will usually include all the fees into the deal meaning you can add them onto your mortgage (costs a fortune in the long run but means you can get moving quicker).