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New Homes

PX or Part Exchange



P/X
or
PART
EXCHANGE

 

In a sticky market you may find it harder to sell your home. Part Exchange is a way to help you move faster, equally you may just wish to up and move without all the hassles of dealing with agents, showing prospective buyer round and worrying if your sale is going to go ahead or not. For some people, P/X is a solution. ...........

DO ALL DEVELOPERS OFFER P/X?
The answer is simply NO!  Many developers feel that by taking your older property just shifts the problem of selling a brand new unit, to selling an unknown unit which may hide faults or have title or boundary problems.

WHICH DEVELOPERS DO?
This you'll have to ask? And normally there are rigid conditions and stipulations.
  • The developer may insist that their chosen estate agent values.
  • The property may have to meet certain criteria, ie age or construction type
  • The developer is in business, they may insist that your property must when valued be lower than say 70% of the brand new home you want to P/X on.
  • A timescale is normally involved, and you are likely required to put down a holding deposit

When alls said and done P/X is not for everyone and P/X valuation on your property may be lower than had you of called in agents. Agents will value on the basis of finding a buyer on your home in a few weeks.

Advantages include a fairly smooth and quick transaction. You get a house to modern build standards and best of all, there’s NO CHAIN.

 

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