The advantages of part exchanging your current property for a brand new home.
Buying and selling a home can be a stressful experience, especially if you are caught in a long chain and are constantly worried that a link in the chain may fall through, leaving you in what can often be a time-sensitive and difficult situation. For many people who opt to buy a new home the chance of part exchanging their existing property for a new one through the developer is very tempting indeed. It takes all the worry out of the sale and purchase and will speed up the transaction so you can move in quickly at a timescale to suit you. Many new home builders offer a part exchange scheme and the terms and conditions do vary but in general terms this is designed for people moving 'up the ladder' with most builders requiring a minimum differential in value between the home you are buying and the one you hope to part exchange. The offer made for your current property will be based on a market valuation and, in some instances may be slightly lower than you may achieve through a private sale although you should bear in mind that you will be saving on estate agents fees and will be able to plan your move to suit your needs. If your reason for moving is to be closer to a new school or place of work for example, the fact that you have an assured moving date will be reassuring. When the property market is slow with restricted credit facilities for buyers, to part exchange your property for a new home is definitely an excellent option.
Many developers will offer a part exchange deal - here are a few examples:
Part exchange is available on selected properties at Taylor Wimpey developments throughout the country. You will need to trade up from your existing property, and the value of your home should be no more than 70% of the new Taylor Wimpey home that you are interested in buying. Taylor Wimpey will arrange for a minimum of two selling agents to carry out valuations on your existing home and you will then receive an offer. If you agree the offer price your provisional reservation on your new home becomes a full reservation.
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Bovis Home Exchange takes the hassle out of moving home. If you’re looking for a quick and simple move, avoiding chains and estate agents fees then this is the scheme for you. They arrange for two local estate agents to value your home, if the property is suitable they will then offer you a price. With the scheme you have no need to worry about selling your home, and can continue to live in it until your Bovis development is ready, as they will keep it reserved.
They offer part exchange at selected sites on selected plots. The scheme involves an independent evaluation and there must be a 30% differential between the two properties i.e. the older property must be 30% less than the price of the new one. As an alternative Bellway offers an Express Mover Service where there is no differential. They work with the client, agree a selling price for their old home and appoint an estate agent on their behalf who is briefed to concentrate on their property. Bellway pay for this service.
PART EXCHANGE - They will arrange the valuations, agree a price and then market the property on your behalf using their contacts and expertise. There are no selling fees involved.
ART EXCHNAGE PLUS - Persimmon arrange for at least two valuations, agree a market price with you and then buy your existing property.
CHARLES CHURCH PART EXCHANGE
The Charles Church part exchange scheme provides a less stressful move. They use all their contacts and years of expertise to help sell your home. They will value your home, agree the price and market the property for you. Everything is taken care of. With their part-exchange plus scheme, they will arrange for two valuations, agree the price with you and buy your existing property. No chains, no hidden costs, leaving you free to move whenever you want.