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Topher Bear

How Does That Work!

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Just passed a new build development thats been up for ages, new signs now saying that they will do 105% part exchange! Does this mean they will take your house off you and pay you money in order to get you into one of thier properties?

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Just passed a new build development thats been up for ages, new signs now saying that they will do 105% part exchange! Does this mean they will take your house off you and pay you money in order to get you into one of thier properties?

I suspect it means that they'll pay you 5% more than they say your house is worth.. which might well be considerably less than you might otherwise sell it for.. such is the way of these things. They'll also be using theor "generosity" to try and persuade you that having done you a favour they can't possibly offer you any money off their exhorbitantly priced and probably jerry built new build.

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If think this probably means that even if your house is valued (by them) 5% below what they are asking for their new builds then they will still allow you to do an exchange.

How nice of them!

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Just passed a new build development thats been up for ages, new signs now saying that they will do 105% part exchange! Does this mean they will take your house off you and pay you money in order to get you into one of thier properties?

how many times did you pass it?

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You haven't sussed this posting lark out have you :P

I was beginning to wonder if I was the only one who'd noticed the irony a thread titled "How Does That Work?" having been listed four times. ;)

Edited by Dave Spart

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Listening to Talk Sport this morning and advert by Taylor Wimpy were offering to cover your deposit. Don`t have a deposit but want one of our fantastic properties, then call the special Taylor Wimpy no deposit number.

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Listening to Talk Sport this morning and advert by Taylor Wimpy were offering to cover your deposit. Don`t have a deposit but want one of our fantastic properties, then call the special Taylor Wimpy no deposit number.

Pure desperation.

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Listening to Talk Sport this morning and advert by Taylor Wimpy were offering to cover your deposit. Don`t have a deposit but want one of our fantastic properties, then call the special Taylor Wimpy no deposit number.

Well, what's the bloody number!!??

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Just passed a new build development thats been up for ages, new signs now saying that they will do 105% part exchange! Does this mean they will take your house off you and pay you money in order to get you into one of thier properties?

Don't know whats going on today.I se this topic loaded three times.My piece on Targetfollow did the same thing.

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Just passed a new build development thats been up for ages, new signs now saying that they will do 105% part exchange! Does this mean they will take your house off you and pay you money in order to get you into one of thier properties?

Think 'cash for gold' scam with bricks and mortar instead.

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I suspect it means that they'll pay you 5% more than they say your house is worth.. which might well be considerably less than you might otherwise sell it for.. such is the way of these things. They'll also be using theor "generosity" to try and persuade you that having done you a favour they can't possibly offer you any money off their exhorbitantly priced and probably jerry built new build.

The way that most businesses re-arrange the terms of a deal to preserve their margin when claiming a 'special offer' is sickening.

It would be so refreshing to see a new house/car/holiday etc. transparently priced with narrow margin and no clawback through underpayment for trade in, locked in finance, compulsory insurance etc. bloody etc.

Businesses like that wouldn't make the owners rich, but the risk of failure would surely be low due to their massive popularity.

Mixing more & more with business people as I get older & I get the distinct impression most of them would rather close a business than run one where the majority of the benefit was going to employees and/or customers even if they were still doing OK themselves.

Sometimes they whitter on about how they worked 80hr weeks to get the business off the ground - well yes but nobody held a gun to their head and made them do that! Did they?

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Just passed a new build development thats been up for ages, new signs now saying that they will do 105% part exchange! Does this mean they will take your house off you and pay you money in order to get you into one of thier properties?

Around where I live there are four sites of newbuilds, plenty unsold and all reduced by about £20k - 25k since March (e.g. 4 bed town house down from £275/£274,995 to £250/£249,995. Not a steal yet by any stretch of the imagination but a heartwarming indication of how things really are IMO.

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Around where I live there are four sites of newbuilds, plenty unsold and all reduced by about £20k - 25k since March (e.g. 4 bed town house down from £275/£274,995 to £250/£249,995. Not a steal yet by any stretch of the imagination but a heartwarming indication of how things really are IMO.

Town house, like a house, not in a town, with no garden, actually not even like a house more like a multi-level flat with a garage underneath too small to properly park a car with no space left for anything else.

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Around where I live there are four sites of newbuilds, plenty unsold and all reduced by about £20k - 25k since March (e.g. 4 bed town house down from £275/£274,995 to £250/£249,995. Not a steal yet by any stretch of the imagination but a heartwarming indication of how things really are IMO.

The houses in Bovis' Deans Lea development at Bishops Cleeve, north of Cheltenham have been finished since 2007.

There is 1 left - a 5 bedder for £475K.

What I don't get is:

1. How can they afford to wait so long to sell 'new' houses.

2. Why do they wait so long to sell new houses?

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Because they have made massive profits before and interest rates are low.

---

I use a big hook when I go fishing (so tiddlers are filtered out), I can afford to wait until a big bass takes the bait.

Less bites, as there are less big fish in the sea.

Edited by Money Spinner

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I wonder how often developers get their fingers burnt on these part exchange deals. The Property at the bottom (no 31, last sold for £145k) was on the bloor homes part exchange website for ages, if you look at the sold prices it looks as if they paid £160k for it but only managed to sell it for £145k. (it was originally on at £165k iirc, gradually reduced to £150k in asking price)

http://www.rightmove.co.uk/house-value.html?searchLocation=NN8+4UR&displayPropertyType=detachedshouses&bedrooms=4&radius=0.0&sellersPriceGuide=Update+results

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Easy, and an old con:

They get a 2 week sale price, and value your property at less than that. A two week sale price is the price agents feel that they can sell your house within 2 weeks, so it is pretty much a bargain price.

Don't expect your local agent to call you with these properties, they go to their friends first for nice backhanders.

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Out of interest, I phoned up a company in Aberdeen who are a locally based house builder.

They had a part-exchange program.

I pretended to want to buy my parents a £250k house in a new devlopment in exchange for their £500k house in Aberdeen.

i.e. buy a house and they hand my parents £250k.

They said that they only do an exchange if the value is more for the new house - i.e. upgrade from a £200k flat into a £250k townhouse.

I was not really suprised by this - but I got a call a few weeks later and the guy told me that if my parents used their solicitor, they would be able to sell quickly and I'd get a 10% discount on the house they were selling.

My parents don't acutally live in Aberdeen - so this was a good chance to see how far they would move.

I managed to get a 15% reduction on the £250k price - with all legal fees paid for both houses - free carpets, whitegoods, £1000 at a furniture store (that will buy you about 1 1/2 armchairs :( ) and also free factoring for 2 years.

I'm not much of a negotiator if I really want something - but I was amazed at how much I could get away with here.

:)

If you are after a new build - you can really push the sellers to get anything you want.

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The houses in Bovis' Deans Lea development at Bishops Cleeve, north of Cheltenham have been finished since 2007.

There is 1 left - a 5 bedder for £475K.

What I don't get is:

1. How can they afford to wait so long to sell 'new' houses.

2. Why do they wait so long to sell new houses?

I don't think that the local "publicity" did them any favours. An article from the Gloucestershire echo from September 2008 says :

Barbara said: "It's outrageous. I paid more than half a million for my house and I've only been here a few months. It was supposed to be an exclusive development with only a small proportion sold for social housing. Now it looks like half of them will be turned into council houses because they can't sell them all.

Not sure what happened with the social housing side of things.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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