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Part Exchange Considered

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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.

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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.....

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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.

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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.

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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 ?

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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.

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  • 284 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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