How does part exchange work?
If you already own your own home and want to buy a new build property, you may have the option of a part exchange.
But what does that really mean? Here’s a quick run-down of everything you need to know about part exchange.
Who can part exchange?
What are the advantages of choosing a new build property where the developer is offering part exchange?
- First, you don’t have to worry about putting your current property on the market, which makes the process a whole lot quicker and easier
- The developer makes you a guaranteed offer so there is no last minute negotiation
- There’s no chain which means there’s less risk involved for them
- You’ll save money in estate agent fees
- You can stay in your old home until the new one is ready
- Buying and selling is completed in one easy move without having to wait for other parties to complete