Part Exchange House Purchase

speedbird1

Registered User
Messages
14
Found a house I am interested in and the Auctioner has advised the seller is willing to take my house in part exchange. The idea is that he gets about 100k into his hand and gets a house in an area that has good rental potential.
For me it means not having to try and sell my own house which is not easy at present and I get a nice house a very nice area in the country.
The seller has financial trouble and wants some cash in hand and the estate agent reckons he is very keen to sell. He is not getting my house below market value as have had it valued by an independent agent.
Are there any potential problems I am not seeing in a deal like this. ???
Has anyone out there been involved in a similar deal. ??
Thanks for any advice
 
know somebody who did this recently, don't know the figures involved but 3 months on both seem happy about it.
 
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