Taking The Stress Out Of Buying A New Home With Part Exchange

Buying a new home can be one of the most stressful experiences in a person’s life, from picking your dream property to signing the contract, especially if you’re moving up the property ladder and need to sell your current home.

Part Exchange can take the stress out of the whole process and help home buyers get into their new property a lot sooner.

For this year’s Stress Awareness Day on 3 November, Crest Nicholson is demystifying the Part Exchange process with a guide on what it is and the benefits...

What is Part Exchange and how does it work?

In simple terms Part Exchange is trading a house you already own to move up the property ladder into your new home. Crest Nicholson purchases your existing property and the value is taken away from the price of the property you are buying.

The scheme is the perfect solution for people who would like to sell up and move home, however are deterred by the stress, hassle and cost, meaning they are living in a home which they have fallen out of love with or that no longer fulfils their needs. 

The process is robust and transparent, ensuring homeowners get a fair market value for their current home. Independent valuations are obtained from three different high-street agents and an offer is made off the back of these third-party valuations.

What are the benefits of Part Exchange?

• Guarantees a cash buyer for your home.
• As the process is between the developer and the seller, this removes complicated chain delays, often making the moving process quicker and reducing stress.
• You will receive a fair value for your existing home.
• You can remain in your existing home until your new home is ready.
• Crest Nicholson covers all agent’s fees, meaning sellers can avoid costs they would be paying if selling on the open market.
• It is a streamlined transaction and purchasers are given professional support and guidance throughout the process.

Rachael and Stuart Hunisett and their family recently moved into a property at Crest Nicholson’s Bilham Farm. They comment: “We wouldn’t have been able to purchase our new home without Crest Nicholson buying our old one. Another benefit of using the Part Exchange scheme was that we got to stay in our previous home until we moved into Bilham Farm, making the move stress-free.”

Eileen Guihen, sales and marketing director at Crest Nicholson South, comments: “Part Exchange might usually be something you associate with buying a car, so some purchasers are unaware it is a route into home ownership. In fact, the same principles apply – you essentially trade the property you own to move up the property ladder, so it’s a great option for upsizers. A major frustration for home movers that have a property to sell is chains can delay your move, however Part Exchange takes the stress out of the process, guaranteeing you a cash buyer and instead allowing you to focus on the excitement of buying your new home. Our sales team is looking forward to welcoming customers both virtually and socially distanced, so please do get in touch to book an appointment.”

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