Homes taken in part exchange

IT takes a bit of smart thinking to move houses in the present market and builders, Coleman Brothers, are not backwards in thinking forwards.

They are about to introduce a trading-up scheme to encourage sales in their newer, and larger house schemes.

According to John O’Herlihy, the firm will buy existing homes from prospective buyers who are looking to move, but can’t sell.

They will offer a fair valuation of a property and then deduct that amount from the purchase price of the new build.

“For instance, if we’re selling a house at €450,000 and a buyer has a house worth €300,000. We’ll take their house and the remaining €150,000 in cash.”

At the moment, they are concentrating on the Blarney/Tower area, their home base, and have a leaflet drop planned for next week to encourage sales in the new, Gleann Fia development.

The idea arose late last year when they purchased no 2 Gleann na Rí from a family about to purchase a high-end, detached house at Woodborough, on the nearby Kerry Road.

Their existing home, a detached five-bed had been significantly extended and included a large sunroom and extended kitchen and the bones of 2,200 square feet.

Colemans now own that property and are prepared to sell for offers in the region of €460,000, or they’ll take a trade-in.

The property has been stripped out and freshened up and is available through Colemans and agents Countrywide Homes.

They are open to negotiation of most of their new builds, says O’Herlihy — after all, this is a buyers market. The benefit is no lengthy wait for a house sale, no fees and the company guarantee a fair, 100% valuation of a purchaser’s present home.

On the face of it, it looks like a good deal, especially for families in need of space, who find it impossible to trade up at present.

Coleman’s high end properties at Mitchell’s Court in Kerry Pike, (which had a phenomenal public response) and Woodborough, in Tower, may be added to the scheme in March, says O’Herlihy.

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