House Swap with Developer?

[marsbars]

Hi All,

Not sure if I am posting in the right section - apologies if not. I am interested in selling my house to move closer to town in Waterford. My current house would be much bigger, but in the countryside (about 6 miles from Waterford) and current valuations of my house - and the house I would like - are very similar, about 450,000 euro - which is substantial for Waterford.

I do not have great hopes of selling my house in the current climate and wonder if anyone has experience, or have heard, of swaps with developers? It is a new housing development I am looking at and most houses are gone. However none have shifted - at all - for about a year! I have heard that developers receive a grant upon completion of estates to finish the estate off. I was thinking this, along with better image of completion of a very visible estate, would be a strong incentive to swap? They may also find it easier to sell a country house as it is a one-off?

Don't know, probably way off the mark, but I have read reports of this taking place around the country - has anybody else? Does it sound plausible anyway? Should I approach the developer or the selling agent?

Thanks in advance for any advice!

 

[gally74]

i think unless their is 50% cash in it for them i.e. your house worth 200k, theirs 400k, then i cant see them doing the deal. you would also need a developer that was happy taking it on, he may not be able to get a loan on your property the way things are gone,

over the next few years i reckon people are going to start to move back towards town centres as houses become more afforidable

 

[marsbars]

Hi gally74,

Thanks for reply - why would the developer need a loan? Would it not be a straight swap of deeds if valuations matched?

I take your point though regarding financial incentive, I am hoping the incentive will be the grant developers receive upon conclusion plus the better image of an estate completion.

Like I said, could be way off the mark

 

[gally74]

well maybe have a look, but if they want your property they will want to get a loan on it,

if i were you, id approach the developer and see whar you can get the property at, say 50k or 100k less what ever it is, then try to sell your own at a reduced price. not what you think it is worth.

the way interest rates are going it is tempting for people to buy, i rented for 14 years and knew what it was like!