Property Part Exchange Services
A broken or incomplete property sales chain can be an expensive frustration but property part exchange for developers can solve the problem.
New Homes Part Exchange?
It is sadly not a rare occurrence for a potential purchaser of a new home to have lost the buyer for their own home or be finding it difficult to sell. However, completing that chain can be achieved through specialist companies that will quickly acquire the unsold property.
Property part exchange for developers is usually available throughout the United Kingdom and will include ex-local authority flats, high rise flats and properties of any age.
Property part exchange for developers can also be used as a pro-active marketing tool that, for smaller developers, can be an invaluable opportunity normally associated with large house builders.
How Does Property Part Exchange for Developers Work?
- The property part exchange company will firstly have two, valuations of the subject property carried out by local estate agents.
- Typically, there will follow an offer for the property within a week
- A sale will complete within 14–28 days assuming that the formal survey/valuation report does not bring up any unknown issues
- The offer will be around 85-90% of the average valuation
For property developers, this system is very straight forward with all the management and risk of acquisition in the hands of the investment company. The ongoing marketing and sale of the subject unit is also managed. The developer simply has to manage the expectations of the client at the new home end.
Property part exchange for developers can also be used as a pro-active marketing tool. For smaller developers this can be an invaluable opportunity normally associated with large house builders. For a developer to be able to offer part exchange services can look impressive to a potential buyer and, even if not utilised, will help build trust.
The potential problems with property part exchange for developers is generally down to unrealistic expectations of the house seller. Very often the reason that the potential buyer cannot sell their own home is that they are simply asking too much for it. This can lead to no viewings or a sale to fail after a formal valuation during the conveyancing process. Consequently, managing expectations will be key to making part exchange work and being able to offer incentives on the new property.
The sales team for any new homes development will need to understand the part exchange system and the advantages to their buyer. Such advantages will be:
- Certainty of sale
- Potential speed of completion
- Not having to deal with their own marketing, etc.
This ease of the sales process and assurance of completion dates can be a great attraction to older buyers whom simply want to avoid the stress of modern house moving.
For more information on property part exchange for developers then contact Developer Money Market on [email protected].