Did you know that you could purchase a Shrewsbury Homes property through Part Exchange? Selling your current home and buying a new one can be a large decision. We want to make it as easy as possible for Shropshire homeowners to make that choice.
Perhaps you’re in a rush to move, or you have found your dream home in the Shrewsbury area and don’t want to let it get away. We suggest you look into part exchange! It’s a great alternative to the traditional method of selling your house.
What is part exchange?
Part exchange is a fast and effective way of selling your current home and buying a brand new one. It’s essentially a way of trading in one for the other.
Some of the benefits include:
- No estate agent fees.
- No sales chain.
- You can be confident of a guaranteed buyer.
- Stay in your own home until the new house is ready.
- Time-saving, so you can reserve quickly and not miss your favourite plot.
How it works
Market value is first agreed upon. Two estate agents would value your house at a price to sell and at a price that could be realistically achieved within 4 weeks. Companies look to resell within 4 weeks, which is why this guide figure tends to be the one used. This will need to be agreed between you and the PX company.
You will be required to be going up in price by a minimum of 30% on your new home.
Homes not suitable for part exchange are those which:
- are leasehold apartments.
- are structurally defective.
- have 80 years left on a leasehold house.
- have been declared unsuitable for a mortgage.
- are found to have a fault when discovered by a surveyor.
- are deemed unsuitable for whatever reason by the directors.
You also cannot use Help to Buy Schemes with Part Exchange.
Who would benefit
Part Exchange works well for busy people looking to move house, and who want to keep the time, stress and strain to a minimum.
On many occasions Shrewsbury Homes has seen buyers who have chosen to sell on the open market and not been successful. It can happen that they have to reduce their house prices to obtain a buyer. On top of that, they have to pay estate agency fees – only to be potentially disappointed having missed their preferred plot.
If you are interested in selling and buying with part exchange, Shrewsbury Homes Limited can help. We are always happy to talk our buyers through all the options available, to enable them to make an informed choice that suits their needs.
For more information contact Amanda on 07792 498927 or via email email@example.com or Monks Estate Agency on 01743361422.