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Part Exchange Process Explained

Jonathan talks about the part exchange process, how it works and things to be aware of when deciding if it's the right route for you to sell your house.

What is part exchange when selling your house and how does it work?

Part Exchange Process Explained

What is part exchange when selling your house and how does it work?

Video Transcription

We often get asked what is the part exchange process and what does it mean, well this is generally used by people buying property that's newly built.

Developers will sell a new flat for example, and as well as taking a chunk of cash for the property, they will also take in the property that the buyer is currently living in. It cuts out all problems for them, such as chain issues or the potential for the property to fall through.

However, I think it's worth making you aware that you generally don't get the full market value for your property if you part exchange it. It will be something around 85-90% normally, that the developer is willing to pay.

That way, of course, they keep a little bit of margin in there for themselves, as profit, and also can also help to cover all the costs and so on, when they then subsequently sell your property.

Jonathan Rolande

Authored by Jonathan Rolande

Jonathan started in the property industry in 1987 and has extensive knowledge of the property buying sector. Jonathan is also an avid supporter for more regulation in the industry that protects sellers.

Last updated on 31/01/2014 by Jonathan Rolande.

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