Nicky T Posted January 18, 2011 Report Share Posted January 18, 2011 Had our house on the market for about 6 months now and have pretty much decided to go with Morris Homes and part-exchange it for one of their new builds near Heaton Park Has anyone recently used either the agency or part-exchange schemes that Morris offer or bought one of their new homes? If so what are your opinions? Quote Link to comment Share on other sites More sharing options...
MC Posted January 18, 2011 Report Share Posted January 18, 2011 My only comment about part exchange is they will be looking to make a profit on your existing house so they will offfer you well below the market value, They will also then not budge on the price of the new house so the sellers end up with double bubble. All in all it depends how quickly you want to move and how quickly you think an estate agent could possibly sell your house. Remember if an offer seems too good to be true, it usually is. Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 The first stage of the process is to go on what they call the Agency Scheme, whereby they work with your existing estate agent to sell your house under the premise that you will purchase a new house from them once sold. If they don't manage to sell your property for you then you go to the Part Exchange scheme instead and move that way. You're not wrong Martin as they did originally come back with a low ball offer for the valuation on the agency scheme. Fortunately shooting regularly with Chard has schooled me well on how to deal with these types so i told them where to go and they came back a matter of hours later with the price that i wanted So we signed up for the Agency Scheme yesterday, paid a deposit for the plot we want (houses not even built yet) and ensured that it was noted that the deposit was fll refundable if they didn't get a sale or we changed our mind Quote Link to comment Share on other sites More sharing options...
MC Posted January 18, 2011 Report Share Posted January 18, 2011 As long as you get the deal you want then that is great. Some friends of mine looked into it and were offered half of what their house was valued at. They sold it through a local estate agent for the asking price and bought somewhere else. Quote Link to comment Share on other sites More sharing options...
artschool Posted January 18, 2011 Report Share Posted January 18, 2011 in line with the above answers, you should be able to get a whacking discount off any new build at the minute because of the pressure the banks are putting on housebuilders. dont lose out by taking the first offer/easy route. do you have the time to test the local market for a month or two with an estate agent? Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 As long as you get the deal you want then that is great. Some friends of mine looked into it and were offered half of what their house was valued at. They sold it through a local estate agent for the asking price and bought somewhere else. We're currently at about £4.5k below our asking price so i can live with that - especially given that they will pay the estate agent fees! Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 in line with the above answers, you should be able to get a whacking discount off any new build at the minute because of the pressure the banks are putting on housebuilders. dont lose out by taking the first offer/easy route. do you have the time to test the local market for a month or two with an estate agent? We're looking at approximately a £15-20K discount on the price of the new build, but until we have sold our house i'm not in the ideal position to barter. Our house has been on for approx 6 months now with a couple of estate agents with only a handful of viewing so it was time to do something else as Mrs T wants to move this year Quote Link to comment Share on other sites More sharing options...
artschool Posted January 18, 2011 Report Share Posted January 18, 2011 We're looking at approximately a £15-20K discount on the price of the new build, but until we have sold our house i'm not in the ideal position to barter. Our house has been on for approx 6 months now with a couple of estate agents with only a handful of viewing so it was time to do something else as Mrs T wants to move this year fair enough, sounds like you are doing the right thing then. friends of mine completed on a house last week and it took them over a year to sell their property, plus at the very last minute the chain broke and they still havent actually completed on the sale of their own house(although i am sure it will go through). they are fortunate to be in a position to afford it. Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 fair enough, sounds like you are doing the right thing then. friends of mine completed on a house last week and it took them over a year to sell their property, plus at the very last minute the chain broke and they still havent actually completed on the sale of their own house(although i am sure it will go through). they are fortunate to be in a position to afford it. We certainly hope that we're doing the right thing, and financially it does seem to be the best use of our cash at the moment. Guess we'll just have to wait and see how it all pans out Quote Link to comment Share on other sites More sharing options...
artschool Posted January 18, 2011 Report Share Posted January 18, 2011 We certainly hope that we're doing the right thing, and financially it does seem to be the best use of our cash at the moment. Guess we'll just have to wait and see how it all pans out the big plus is getting a nice new house. so no diy!! Quote Link to comment Share on other sites More sharing options...
Chard Posted January 18, 2011 Report Share Posted January 18, 2011 Fortunately shooting regularly with Chard has schooled me well on how to deal with these types so i told them where to go and they came back a matter of hours later with the price that i wanted I can't think what you mean :o Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 I can't think what you mean :o I'll send you your comission when its sold Quote Link to comment Share on other sites More sharing options...
Chard Posted January 18, 2011 Report Share Posted January 18, 2011 Are you not moving up into t'hills then, Nick? Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 Are you not moving up into t'hills then, Nick? Kind of - over Heaton Park way Quote Link to comment Share on other sites More sharing options...
jacksdad Posted January 18, 2011 Report Share Posted January 18, 2011 Sounds like you have got the best deal and I bet you have still made money on your old house We visit the park several times a year, its only a few miles from me, lots of walks and they hold loads of events throughout the year, pity there's no shooting tho :blink: Quote Link to comment Share on other sites More sharing options...
al4x Posted January 18, 2011 Report Share Posted January 18, 2011 let me get this right you've got a deposit on a house they haven't started building yet and are trying to rush through selling your own house, doesn't that have homelessness written all over it Have to say its hard when houses won't sell, I was lucky mine sold to the first viewers for the asking price and has just completed. You are like gold dust to a developer trying to finance a build hence them helping you as much as possible so just remember you hold all the cards and push them as hard as you like. Its not the best time of year to sell houses and buyers are bargaining hard so good luck only takes the right person to see it. Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 let me get this right you've got a deposit on a house they haven't started building yet and are trying to rush through selling your own house, doesn't that have homelessness written all over it Have to say its hard when houses won't sell, I was lucky mine sold to the first viewers for the asking price and has just completed. You are like gold dust to a developer trying to finance a build hence them helping you as much as possible so just remember you hold all the cards and push them as hard as you like. Its not the best time of year to sell houses and buyers are bargaining hard so good luck only takes the right person to see it. Fortunately ( :o ) we've got the option to move in with the inlaws for however long we need to if we do manage to sell prior to the new house being built and ready so its zero risk of homelessness. Once our house is sold, then i guess its time to start worrying about that Definitely will be in a good position when it comes to negotiating though if it all goes to plan Quote Link to comment Share on other sites More sharing options...
artschool Posted January 18, 2011 Report Share Posted January 18, 2011 Fortunately ( :o ) we've got the option to move in with the inlaws for however long we need to if we do manage to sell prior to the new house being built and ready so its zero risk of homelessness. Once our house is sold, then i guess its time to start worrying about that Definitely will be in a good position when it comes to negotiating though if it all goes to plan have you got a link to the house plans? just being nosy! Quote Link to comment Share on other sites More sharing options...
al4x Posted January 18, 2011 Report Share Posted January 18, 2011 sounds easy till you work out how much junk you have believe me I thought I'd move in with the missus and we'd then look for a house together storage has been interesting Quote Link to comment Share on other sites More sharing options...
MC Posted January 18, 2011 Report Share Posted January 18, 2011 sounds easy till you work out how much junk you have believe me I thought I'd move in with the missus and we'd then look for a house together storage has been interesting Well you really should start sharing your make up bags, that way you would halve your staorage requirements Quote Link to comment Share on other sites More sharing options...
al4x Posted January 18, 2011 Report Share Posted January 18, 2011 thats the thing MC we now have 2 sets of makeup Quote Link to comment Share on other sites More sharing options...
Chard Posted January 18, 2011 Report Share Posted January 18, 2011 have you got a link to the house plans? just being nosy! Quote Link to comment Share on other sites More sharing options...
Nicky T Posted January 18, 2011 Author Report Share Posted January 18, 2011 Chard he wanted the house plans not the annex! Quote Link to comment Share on other sites More sharing options...
Chard Posted January 18, 2011 Report Share Posted January 18, 2011 Chard he wanted the house plans not the annex! I think I left them in the Portico :blink: Quote Link to comment Share on other sites More sharing options...
malkiserow Posted January 18, 2011 Report Share Posted January 18, 2011 It can pay to know when the salesmans bonus time is as this can motivate them to do a deal and get any deal in the bag to enable them to get their quota and bonus Quote Link to comment Share on other sites More sharing options...
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