Part Exchange – What’s in it for buyers
There has been a dramatic change in the level of new build part exchange business in recent years. What was once a last resort is now viewed as being an attractive and cost effective proposition.
Part Exchange is a key selling tool for house builders and is now one of the most popular incentives for purchasers looking to buy a new build home, yet do not want the hassle of selling their property on the open market.
Selling a home can be an overwhelming and stressful experience. From dealing with viewings, surveys, offers, counter offers, buyers pulling out at the last moment to chains collapsing; the process can be daunting, time consuming and inconvenient.
In contrast, part exchange can be seen as the key to the door of a new build home and allows purchasers to secure their dream home with less stress and without risking losing out to another buyer that can respond faster.
The modern property market is fast paced and competitive, with many new build properties sold entirely from plan without a single brick being laid. Part exchange means having the ability to reserve your dream new build property from the outset and letting the developer take on the overhead of dealing with your existing property.
The costs of Part Exchange are least partially offset by not having to pay estate agent fees and legal costs.
Part Exchange – What’s in it for developers
Part Exchange has become an important selling tool for developers and is a popular incentive that purchasers value. This can mean that stock can be sold more rapidly which releases capital and improves cash flow.
The PX Hub are experts in the sale of residential property, with access to a wide range of local and national estate agents whose performance is monitored on a weekly basis to ensure properties can be sold quickly and easily. This allows sales completions to be more accurately forecast. The PX Hub operate on a ‘No Sale No Fee’ basis which reduces a developer’s costs and risks.
The PX Hub also offers a Funded Part Exchange option through a number of partners for certain developers to widen their choice of incentives for customers. Funded Part Exchange involves a third party purchasing the second-hand property on an immediate basis, without needing to wait for a private buyer to be found.
The PX Hub is certified to ISO 9001:2015 by BSI (the British Standards Institute). They are one of the only Asset Management Companies that hold this certification of quality management which means clients can be reassured that staff are trained and monitored to high standards.