Some people worry that they will get less than market value for their property, but this isn’t necessarily the case. A reputable developer will get two independent valuations of your home. They will make an offer based on the current market value, which is calculated by looking at comparable properties in the same neighbourhood and through valuations and surveys.
If left to the market by putting your house up for sale with an estate agent, for instance, you could end up with more or less than the actual valuation, depending on demand.
If you’re unsure about the terms of part exchange, make sure you ask plenty of questions or speak to your solicitor to check the details.