Anyone have any experience with a new build home exchange?
Posted by Ejp81@reddit | AskUK | View on Reddit | 4 comments
There are some new builds going up by me by Bovis homes and I’ve noticed that they do a home exchange scheme where they buy your existing home. Just wondering if anyone has used this and how it works? Will they buy any home and do they offer market value?
SnooCakes1636@reddit
I have with David Wilson Homes. By fa the easiest and fastest and stress free move I’ve done. Literally 6 weeks from looking around to moving in. My part-ex home was in a bit of a state, and pretty sure it has subsidence (although they never did a full survey on it). It’s been up for sale for 6 months now, had an offer fall through, and been reduced by 50k at this point. I’m so glad I wasn’t trying to sell this myself!
They do give you a small bonus if you sell while still living in it, but it’s also quite nice to not have to try to ‘sell it’ to prospective buyers looking around, because you know your deal is already done and guaranteed.
They paid a fair market price IMO and covered stamp duty.
They did require electrical assessment (didn’t necessarily have to pass - mine didn’t), and a gas safety certificate (which it does have to pass). The total cost of these was around £500 all in.
Would highly recommend and would definitely do it again.
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your_swindon_lot@reddit
We did this in 2018. They got three local estate agents to value our existing home and took the average. It was £5k less than our previous offer (which had fallen through), although we saved £2k on estate agents fees. So, all in all, we ‘lost’ £3k but saved loads of hassle of being in a chain. Would thoroughly recommend.
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