| Product: |
David Wilson Homes |
| Date: |
18/08/08 (1500 review reads) |
| Rating: |
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Advantages: They make it easy to sell your current home, but rip you off in the process!
Disadvantages: They will go behind your back and offer you a terrible price for your current home
David Wilson Homes are not to be trusted and are really out to con you out of hard-earned money! Ok, here goes:
We were recently interested in a new build property built by David Wilson Homes. We have a house wich is currently on the market and are relocating to a different part of England due to my husband's new job, and so were interested in their part exchange programme, what with the housing market being stagnant at the moment. We viewed a nice house that they had to offer on a new estate near to my husband's new workplace in Derby, and decided to enquire about the part exchange scheme whilst in the sales office.
We were told that David Wilson Homes would go and get 3 'market value' valuations of our current property, and then make us an offer for a part exchange on one of their new houses. There had to be at least a 30% differential between the house we were interested in buying and our current property. We thought this sounded ok and decided to get them to proceed in valuing the place.
Well, I received a call from the Estate Agent that is trying to sell our current house telling me that he had received a letter from David Wilson Homes asking him not to disclose the contents of the letter with the vendor (us), and asking him to provide a valuation on our house which would 'guarantee a sale within 30 days'. My Estate Agent told me that he wanted me to know what David Wilson were asking of him as he wanted to assure me that he was working in my best interests, and that to 'guarantee' a sale of our house within 30 days he would have to give David Wilson Homes a really low and unrealistic valuation which would slash around £30,000 off the current valuation of the house. Our Estate Agent wanted to advise us that he would not provide a valuation to David Wilson as it was against his principles.
Naturally, we were really disgusted with how David Wilson were trying to do business. They told us they were getting a 'current market valuation' but in reality they are getting estate agents to undervalue properties behind your back so that they can rip you off, basically. We have scrapped the idea of buying a new build now and this whole part exchange scheme, and will just hang on and try and sell our house for a more reasonable price when the market starts moving again.
So you have been warned! Do not trust the smooth talking sales people at David Wilson Homes - especially if you are considering part exchange schemes with them!
Summary: Have your wits about you with this company!
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Last comments:
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- 17/09/09 I had exactly the same experience. Regarding the other comments, whilst David Wilson say they'll pay for estate agent fees, HIP etc, they actually deduct these costs from any additional benefits/incentives they can provide. The sales agent told me that had a 5% discretion, all of which would be eaten up the part exchange deal. In essence, you are paying for these fees in a different way and getting a much lower price for your house that you would get on the open market. So much for a deal, they undervalued my property by about 15% |
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- 20/08/08 There would have been about £30,000 difference actually after considering estate agent fees etc. So quite a big difference! |
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- 20/08/08 This is a hard one. Estate agents value properties to see but also to earn their commission. Part Exchange sales look for the price that the property is actually worth if you were in a position where you had to sell. Every house (OK most) will sell quickly if priced correctly and so I guess DW were looking to find "That Price" - they should have been more open with you BUT, when you take of estate agent fees and other costs you have to ask how far apart the prices actually end up. |
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