Top tips to part exchange

Part exchange continues to prove a popular option for many homebuyers struggling to sell their existing property during the current credit climate, so with that in mind, Mansfield based housebuilder, Rippon Homes, is offering potential homebuyers its top five tips for a successful part exchange.

With the housing market slowing, Rippon Homes’ part exchange deal allows homebuyers to upgrade to a brand new home even if theirs is unsold because Rippon will buy it from you. There are many advantages which include a faster and easier buying process, it eliminates a lot of the stress associated with buying a new home as it totally removes the chain, it is a guaranteed sale plus it wipes out all estate agent fees.

Janet Cliff, Part Exchange Manager for Rippon Homes comments “Part exchange is a fantastic solution for homeowners looking to take their next step up the property ladder. This is undoubtedly the most popular of all our schemes and we regularly carry out part exchange enquiries at all our developments throughout the East Midlands.

“We offer our customers a more personal approach and unlike many of our competitors, home visits are integral part of this deal. After an initial offer has been accepted, I visit each purchaser in their own home to ensure they are fully aware of the terms and conditions.

“For anyone considering this deal, here are my top five tips for a successful part exchange:

1. Understand the facts

There are certain conditions that buyers must meet in order to qualify for part exchange which includes a minimum of a 30% differential between your existing home and the home you want to buy plus buyers must live within our operating area. So before you consider part exchange, make sure you know the facts.

2. Have a realistic view on the value of your existing property

As part of our part exchange deal, we will instruct two local independent estate agents to value your existing property and then we will consider both valuations and make you a suitable offer. Based on the valuation, we’ll offer an amount as close to your expectation as possible.

3. Make sure your existing home is well presented

Anyone selling a home would ensure that the property is clean and well-presented so just because Rippon is a guaranteed buyer it doesn’t mean that you should be slack on its upkeep!

4. Sit back and relax

Part exchange is the easy way to buy your new home. We’ll pay the estate agent’s fees, and the Home Information Pack and we even monitor the estate agents progress to ensure your old home is being advertised on a regular basis. As soon you exchange contracts you can leave the hard work to us.

5. Don’t despair if part exchange is not for you

Not everyone is suited to part exchange and if this proves to be the case for you then don’t give up- we can still help you sell your existing home with our sales assist scheme, where we’ll market your property with a local agent and pay their fees. Just come and speak with one of our experienced sales negotiators to find out what else we can do to help.”

Part exchange is currently available at all Rippon Homes’ development in Nottinghamshire which include:

Heathside Gardens
Heathside Gardens offers a stunning selection of three- and four- bedroom homes with prices starting from £134,950.

Meadow Bank
Meadow Bank comprises a number of three- bedroom homes with prices starting from £165,950.

School Mews
School Mews is a stunning collection of three- and four- bedroom properties in a desirable village location. Prices start from £199,950.

The Hawthorns
The Hawthorns offers a selection of three- bedroom homes as well as two four- bedroom detached properties. Prices start from £133,000.

Woodhouse Gardens
Woodhouse Gardens comprises mostly four- bedroom detached family homes with a number of three- bedroom Sherwood style properties. Prices start from £148,950.

For more information log on to Ripponhomes.co.uk.