This article will be useful if you are having trouble selling your current property and want the benefit of a completed chain and want to learn more about how to part exchange your property.

The only thing is you would have to buy a brand new property, from one of the many housing developers offering this type of incentive scheme!

Not necessarily a bad thing though! It is also possible you may even get the opportunity of buying one of their pre-owned homes as part of  the part exchange your property deal.

That property will have been bought in by the developer already  that they bought in themselves as a part exchange property.

Part Exchange Your Property – What is it?

Another name for the part exchange scheme is the new home exchange scheme and in it’s simplest sense you are exchanging your property in exchange for the other party’s property.

So where does the part exchange bit of part exchange your property come in?

Well that is because the housing company will want there to be sufficient margin i.e. the difference in the value of your property and the price of their property to make it worth their while.

Typically this will be about 70%. So, for example, you buy their house or apartment for £100,000 and they will part exchange your property for £70,000.

Part Exchange Your Property – Where Is It Available?

Availability in terms of who is offering the part exchange your property facility will all depend on how the developer’s unencumbered sales are going.

By unencumbered I mean a no strings attached sale, which means for example you buy for cash or more likely with a mortgage.

Availability in terms or regional variances all depends on how the house builders are performing against their financial budgets.

New homes sales performance could be absolutely fine and on target in the North but sales are a struggle in the South and therefore you would be able to part exchange your property against a new homes sale in the South but not be able to part exchange your property against a new homes sales plot in the North. Talk about regional variations!

In my experience Housing Companies will only offer PX on either problem plots which is how they refer to properties in their portfolio or on plots that they want to attract the absolute maximum in terms of achievable price.

Part Exchange My Property – When is it Available?

The reasons outlined in “Part Exchange My House – Where Is It Available?”  also apply to this answer, but in terms of giving good property investment advice it will generally be much more appealing to the property developer to offer PX at or near their financial year end or other accounting deadline such as the half year or end of quarter accounting period. You will possibly get a better offer on your property and may even get a disount on the new property.

PX My House – 7 Reasons Why You May Want To?

1. You may be desperate to move into an area where there is better schooling for your children.
2. You may want a stress free move and sell your existing home
3. You may want a guaranteed fixed price for your property
4. You want a guaranteed move in date
5. You want a brand new home and part exchange your property
6. You cannot sell your current property
7. You want to change areas quickly

There certainly could be many other reasons that you want a housing company to part exchange your property but these were just some of the most common reasons I came up with from my previous experiences.

Part Exchange Your Property - Are there any strings attached?

The quick answer is yes there are many many strings attached but not necessarily all of them are to your disadvantage. But you do need to be careful. I will cover many of the other pros and cons of PX in a later article, to receive this and other news please check back frequently or join our mailing list by clicking here: Join Which Property Mentor Mailing List and sign up where indicated on the right. You will get a free report too.

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