Part exchange on a house?

[Scott]

Anyone ever looked into this and had an offer put forward? What sort of relationship is there with regards to market value? Estate agent is offering part exchange on a property we are interested in and it would be hassle free if it was even remotely worthwhile.

 

I'm guessing carlsberg don't offer part exchange rates though

[Havard]

Can work for some people but ruins any chance of a bargain.

[Chris88]

Did part exchange on a house once, way back in a previous wife.

 

Worked out OK for us because we got close to market value from the builder of the new house we moved into. Just see what you get offered, compare it with similar properties that have recently sold (zoopla is good for this) remember to compare the offer with what your house will sell for (not what you would like to sell it for) and take it from there.

[downimpact]

depends if they value it accurately, when we moved the estate agent so over valued the part exchange (in a falling market) that made up our mind to move as opposed to just speculating about it. They had to keep dropping it circa 15% in total to shift it on again months after we had moved out.

[Scott]

Our part exchange works out different from when buying a new build. As we are looking to buy a house on the market there's no money to be made from that side of the transaction, it's all on my house, so apparently the offer is as low as 20% below market value..... which I really don't fancy.

 

Will see what they say though