A guide to part exchanging your home & alternative options
Part-exchange services can be really useful if you’re wanting to sell a house you no longer want quickly in exchange for a house you’d prefer.
Using a traditional estate agent can be a long-drawn-out and expensive process, plus there’s no guarantee that a buyer won’t pull out at the last minute, breaking the chain. However, there are other alternatives to part-exchange, such as quick cash buyers.
Buying a part-exchange property means trading in your current property and getting a part-payment towards a new-build property. There are a number of property developers offering this option. They will commission two local estate agents to come and value your property – this will be a selling price and will be around 65% of the market value. Once you accept the offer, a survey will be carried out and, unless any serious issues are revealed, you could complete within around 4 weeks.
Part-exchange schemes are just like any other property transaction, except that the property developer is your buyer. To be considered for a new-build property, your house must be in a decent condition and worth 65-70% of the new property’s market value. Two independent estate agents will visit your property to value it. They will decide if the property value is enough for it to be sold on.
Most developers state that they will offer you a fair price and many vendors are happy to accept because it means a hassle-free sale and a brand-new home. However, it is worth noting that you’ll be limited as to which new-build property you get. They usually have fewer rooms or smaller gardens. There’s no guarantee that your property will be accepted which is why using a quick cash buyer could be an alternative to consider. We will buy any property, in any condition and will pay up to 80% of the market value of the property. You can then go on to buy any property you like or just use the cash for an alternative project. The choice is yours.
✔ No estate agent fees
✖ Sometimes difficult to secure a mortgage against a new-build as they can be considered as depreciating in value fairly quickly
✔ Avoid a property chain
✖ You are limited as to which property you can choose – usually smaller or with less of an outdoor space
✔ Get a brand-new property
✖ No guarantees that your current property will be accepted
✔ Minimal stress process
|✖ Building might not be completed in the timescale specified, by which time your current property may have been sold
✔ Certain perks such as custom fixtures and fittings or being exempt from stamp duty
|✖ You won’t get near market value for your property
||✖ Developer might not be part of The Consumer Code for New Homes, approved by the Chartered Trading Standards Institute|
Although part-exchange schemes offer a seemingly stress-free property sale and a brand-new home, there are other options. If you want to sell your property quickly and aren’t necessarily interested in your onward property being a new build then a quick cash buyer, like us, could be the right choice.
We’ll buy any property, in any condition and will offer up to 80% of the market value, subject to checks. You’ll receive a cash sum that you can use towards a new home or to fund a totally different project. The choice is yours, but all fees are included in the service so what we offer you is what you’ll receive. Plus, we can help you move if you need that additional support. Get a hassle-free service so you can get back to the important stuff. Get in touch with a member of our team today on 0800 024 8444
Do you want to find out more? We can value your house for FREE, just give us a call on:0800 024 8444
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Independent reviews of our service from reviews.co.uk
The whole experience has been easy and very helpful, Lucy & Jessica were both extremely efficient with their service and I would recommend them highly.
Very prompt service and prepared to discuss alternatives and ideas. Very impressed.
The team were all extremely helpful and polite and made every effort to ensure a speedy turnaround. Even offering to cover upfront search costs, in order to expedite the searches, should the outcome of probate not be favourable. They have regularly contacted me to keep myself and my solicitor informed of how the sale was proceeding. The teams efforts didn't stop at the sale of the property. Post sale they have provided expert support and invaluable contacts to ensure my project doesn't delay. Thank you for all your help, I look forward to our next purchase together. Regards Mark
Brilliant company very quick and responsive
I had an excellent experience with the property buying company. Elie Topp was exceptional in dealing with sale of my property. The whole process was quick, easy & transparent. I would definitely recommend the property buying company to my friends.
Why sell your house to us?
We’re one of the leading buyers of residential/commercial property and land in England and Wales. We buy using our own cash facility meaning we can offer the best prices in our industry and complete the sale quicker than anyone else.
|Your options||Average sale length||Typical cost to you|
|The Property Buying Company||2-3 weeks||£0.00|
|Other House Buying Companies||2-10 weeks||£1000|
|Property Auction||6-10 weeks||£2500-£5000|
|Online Estate Agents||16-52 weeks||£1000(upfront)-£5000|
|Estate Agents||16-52 weeks||£5000|
Unlike most of the other options available to you, we are not a broker or middle man, meaning you skip the fees and get a sale quickly and easily.
The Property Buying Company is registered with the Property Ombudsman and is a member of the National Association of Property Buyers
Properties bought by us for cash in
the last 2 years
Of our own money spent buying
property for cash
Average time taken from initial offer
We'll beat any genuine cash offer!
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