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Part Exchange process

Hi. I currently going through PX on new build. I did have valuation carried out and today I have received offer for my property. My Question is what's going to happen next if I decide to accept the offer?. House won't be ready till April next year. So when I would have to pay deposit on the new build, solicitor fees and stamp duty? As I would still occupy my house till new is ready/ Do I going to pay existing mortgage on my current home till I move in to new house? Or I going to pay everything when house is ready? As I have read somewhere that you need to pay deposit straight away and then wait for new house to be ready? I

Asked on Nov 19 2013, New Homes in Bognor Regis | Report content

Answers (1)

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  • You usually pay no deposit on exchange, because the deposit from your sale would go to the buyer the developer will serve a notice to complete once the house is ready. Then on completion everything is paid including the balance of money to or from the developer

    Answered on Jan 15 2014, Report content

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