Whether you’re moving up the property ladder or choosing to downsize, a successful move will always be dependent on a timely and efficient sale. However, selling property isn’t always easy.
A number of factors may impact on your ability to sell in the timeframe you want. It may be that the market in your area is experiencing a dip, or that your property is best suited to a group that are struggling to find finance (e.g. first time buyers). Alternatively, you may want to move quickly and avoid the process of inviting numerous potential buyers through your door. It may be that you live a busy life and don’t have time to re-decorate or re-arrange furniture to showcase your home in its best light. Whatever the reason, many individuals find that choosing to part-exchange their property through a new homes developer, offers many benefits.
Firstly it offers a secure sale. Choosing to part-exchange through a developer part exchange scheme will mean no property chains, and little chance of the buyer (the developer) pulling out of the transaction. Choosing to part exchange will remove the necessity to pay estate agency fees.
Additionally, it offers the many advantages of buying a new build home such the ability to choose certain interiors, fixtures and fittings, a new build guarantee and the luxury of moving into a brand new, previously unoccupied property.
There are many benefits to the part-exchange route but not all properties are eligible, Each builder or developer will have their own criteria but generally the property must be of sound structure and in a good state of repair. Shared ownership, studio flats and those homes with less than 80 years left on the lease may be excluded from any part-exchange scheme. Generally the property you are selling needs to be a certain percentage of the value of the property you are buying – usually between 65 and 75%, so if you wanted to purchase a property for £300,000 the property you are selling must be worth £225,000 or less. However, its always worth checking with the developer on what their current criteria is.
If your property is suitable, the developer will invite a number of estate agents to visit your property to carry out a market appraisal and provide a valuation. Following this the developer will provide you with an offer outlining how much they might be willing to pay for your property. A developer who is considering your property for part-exchange might offer around 100% of the property’s current market value.
- Quick and easy sale
- No fuss, no fees, no chain
- More secure sale
- No need to find a buyer
- Less complicated transaction
- Reduced selling fees
- Fair and realistic offer price
- Move into a brand new home
Bag yourself a bargain: buy a part exchanged property.
When a new homes developer has agreed to buy a property in part exchange for one of their new plots they will be selling the property through a Countrywide estate agent. If you would like to buy a property that has been, or is in the process of being part exchanged, contact your local Countywide Agent and ask to view their developer part exchange properties. These will often be competitvley priced and the develpoer may be open to offers for a quick sale.