Part Exchange to buy a new home

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Part exchange is a concept that yet many people are still unaware of the practice

So we have decided to bring it to the attention of you home buyers out there looking at swish new homes in the latest developments.

The idea is a simple one, and like many simple ideas a darned fine one too.
Interested? Of course you are…

Click here for a Part Exchange Guide

Please note part exchange may only be appropriate on certain properties

How It Works

Part exchange works like this… If you have got your heart set on a brand new home in a particular development, it stands to reason that the property developer is just as keen for a definite sale as you.

To ensure that this does happen in a quick-smart time, the developer will buy your existing home, thereby eradicating any chains or more specifically, any possibility of broken chains.

Who Can Do It

To be eligible you must be a homeowner who is looking to move up the housing ladder, and the homes of your dreams must be a new-build property.
If you can tick those two little boxes you are well on your way to being a prime candidate for part-exchange.

Here’s what happens next:
1) Penrhyn Homes would arrange for two separate independent surveyors which would give us a good idea of the value of your property. This would take on average seven days not like any other part exchange schemes where they give you 90% of the surveyors asking price. Penrhyn Homes will give you the 100% surveyors asking price.

2) Once you agree the offer, and subject to satisfactory surveys, the development
company becomes your buyer, freeing you up to put in a confirmed offer on your
new home.

3) After that, it is a case of setting a moving in date, boxing up your things, and basking in the relief of a quick chain – free move.

The Common Stipulations Are:

A retention fee is usually held (generally around £500) to ensure that your existing house is in a satisfactory state before you vacate it.

This is returnable upon inspection.

End Of Completion

Penrhyn Homes arrange valuations from more than one independent surveyor so you can rest assure they are not simply choosing figures.

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Click here for our Terms and Conditions