If you are looking to buy a home – whether new or resale – but need to sell your existing property then an obvious factor is being part of a chain (a sequence of linked house purchases that can be small or large). The larger the chain, the greater chance of issues that could affect the sale of your new property – causing you stress, inconvenience, and worry. If you have found the ideal home and wish to secure it as soon as possible, then why not consider the Part Exchange option?
Pygott and Crone offer the Part Exchange option on a number of our new developments across the region, proactively handling all aspects of the process; from the initial valuation right through to completion. To find out more please read on and you can always get in touch with us to discuss in more details: fill in the enquiry form, contact our New Homes team, or speak to us on Live Chat.
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What is Part Exchange?
Simply put, Part Exchange enables you to avoid selling your home on the open market, instead your house will be purchased by our dedicated Part Exchange provider. We have excellent working relationships with a number of housebuilders across the region, who have appointed us to manage their Part Exchange option on their behalf.
What are the benefits of Part Exchange?
Having identified the new home of your choice, you have a greater opportunity to secure it by going down the Part Exchange route. There will be no need to worry about having to find a buyer for your current home, as our provider is your buyer and is ready to go.
As you may know, agreeing a sale on your property is only half the story. The conveyancing process can take a significant amount of time if there is a chain of properties, or even if you just have a first time buyer. Part exchanging with our provider removes any unnecessary delays and makes the new home buying process much faster.
What will Pygott and Crone do?
We are the estate agent of choice for many housebuilders and people up and down Lincolnshire, trusted to provide a high standard of service selling new and existing homes. We will provide an accurate, up-to-date, and comprehensive valuation of your property that you need to sell – giving you peace of mind that you will get a good price for your property. We have a strong professional reputation that we’ve been building for over 25 years, and we are committed to working to the very highest standards of quality.
Your property to sell
If you choose to Part Exchange your property then we will visit your property to assess the value and we will organise an energy performance review. This will be done by an accredited energy assessor who will issue an Energy Performance Certificate – EPC – for your property.
Furthermore a highly qualified RICS chartered surveyor will visit to inspect the property. As you may know there are different levels of survey available – from valuation reports to full structural surveys – and it will depend upon the requirements of your housebuilder/provider as to which level of survey will be performed.
The process
The Part Exchange process is as follows:
- You contact us to provide basic details of your property
- We will arrange to value your property
- Once the valuation has been completed, we will forward it to our Part Exchange Provider to consider an appropriate offer
- If acceptable, a solicitor and surveyor will be instructed
- The legal process will then proceed towards exchange of contracts
- Completion date agreed, and you move into your new home!
New homes across Lincolnshire
We have many new homes sites across the county comprising a diverse range including city centre apartments, first time buyer homes, executive properties, individually designed bespoke homes and retirement accommodation. Our dedicated New Homes advisers will support you through the whole process whether buying off plan, buying your first home with Help To Buy or looking to part exchange. Buying a New Build Property is a very exciting time and having the opportunity to select choices with the support of our advisers allows you to make the property your own home.
Breaking the chain
When there is a chain of properties the journey to exchange of contracts can be beset by unforeseen delays or problems , such as a buyer pulling out. Using a chain repair service could be an option available to you, if you find yourself in a similar situation. Chain repair removes the dependency on third parties where our provider will step in and purchase (subject to a valuation) the property in question so to shorten the chain; this can be done in anticipation of a troubled transaction or in response to a problem with the chain. Our chain repair provider will commission a valuation and make an offer, if this is accepted then a sale date is agreed and the transaction can progress.
Guaranteed Purchase
The Guaranteed purchase service is an option to consider if you require a fast transaction. Our provider will commission a valuation of your property and make an offer (subject to the valuation) within 24 hours. If the offer is accepted then the cash purchase is guaranteed to be quick and on a date convenient to you. This option could be suitable if you require more certainty, and peace of mind that your property will be sold quickly to a cash buyer on an agreed date – so that you can move forward with your onward plans with greater certainty, knowing that the purchase will not fall through.
