frozen_out Report post Posted December 13, 2010 This house near me: Was bought last year for £175k, it was in a pretty bad way, so it must have had a bit of money spent on it. It was put on sale for £245k,without a sniff for the last 9 months and has now been changed to £235k with part/ex considered. Under what circumstances would someone part/ex a house? Also, would there be mortgage issues with part/ex ing? It's also available to rent for £900 a month, which they're never gong to achieve. It has a whiff of desperation about it at the minute. Quote Share this post Link to post Share on other sites
AThirdWay Report post Posted December 13, 2010 This house near me: Was bought last year for £175k, it was in a pretty bad way, so it must have had a bit of money spent on it. It was put on sale for £245k,without a sniff for the last 9 months and has now been changed to £235k with part/ex considered. Under what circumstances would someone part/ex a house? Also, would there be mortgage issues with part/ex ing? It's also available to rent for £900 a month, which they're never gong to achieve. It has a whiff of desperation about it at the minute. Sounds like a developer mate. Quick turnaround, part ex. your tatty old shoebox for my shiny shoebox, it's got twigs in a vase an' everything.... Rinse then repeat..... Quote Share this post Link to post Share on other sites
awaytogo Report post Posted December 13, 2010 This house near me: Was bought last year for £175k, it was in a pretty bad way, so it must have had a bit of money spent on it. It was put on sale for £245k,without a sniff for the last 9 months and has now been changed to £235k with part/ex considered. Under what circumstances would someone part/ex a house? Also, would there be mortgage issues with part/ex ing? It's also available to rent for £900 a month, which they're never gong to achieve. It has a whiff of desperation about it at the minute. When sales start to stall the PX always comes out, it is mostly people who jumped on the (house prices will keep going up bandwagon and took on more than they should have) and are now strugling and have tried to sell and they cannot. Quote Share this post Link to post Share on other sites
sign_of_the_times Report post Posted December 13, 2010 When sales start to stall the PX always comes out, it is mostly people who jumped on the (house prices will keep going up bandwagon and took on more than they should have) and are now strugling and have tried to sell and they cannot. another stunt is to get the person at the top of the chain to buy the house at the bottom, offering PX on a property inbetween the two. Quote Share this post Link to post Share on other sites
awaytogo Report post Posted December 14, 2010 another stunt is to get the person at the top of the chain to buy the house at the bottom, offering PX on a property inbetween the two. I think it saves on stamp duty to if it is due to be paid ? Quote Share this post Link to post Share on other sites
kilroy Report post Posted December 14, 2010 I think it saves on stamp duty to if it is due to be paid ? Yes. Say your are selling for 350k and pxing for one worth 250k. If you drop yours to 250k and your counterparty drops to 150k, you end still end up with the 100k difference but both pay less stamp duty. Though I believe HMRC try to stop this. Quote Share this post Link to post Share on other sites
