CALA Homes Press Release

Part Exchange plays a key role in keeping the housing market moving.  But what are the pros and cons of part-exchanging your property for a new build home CALA, when every scheme is different?

Aileen McLaws Sales Manager CALA Homes West, which utilises Part Exchange as a key selling tool in today’s market, explains the benefits of part exchange and why so many of their buyers use CALA’s facility.

“Traditionally most people believed that selling a home privately and controlling that sale could achieve a better price than using a housebuilder’s part exchange scheme.

This may be true, but in the present market conditions part exchange may be the only option for people who want to trade up to a brand new home.”

Before taking advantage of any part exchange deal, it is important to look at exactly what is on offer.

Part-exchanging guarantees an immediate sale, with the housebuilder acting as a chain-free, cash buyer, so dreams of moving into a new home can become a reality, not only more speedily, but more efficiently too.

“Once the buyer has agreed a figure for their home with CALA we assume responsibility for the marketing of the part-exchanged property, paying those costs associated with the purchase, instruct the estate agents who will organise viewings, removing a major hassle factor and saving thousands of pounds in money and time,” says McLaws.

All offers for part exchange properties are based on local achieved selling prices of comparable properties, with the housebuilder taking two or three valuations provided by local property experts. 

For the housebuilder this is a purely commercial transaction, based on the amount for which it believes, from its research, it can sell the part-exchanged home.

For sellers, parting with a home can be an emotional experience and the amount the housebuilder offers is often the main sticking point in a part exchange transaction. 

It is important to remember that whatever the seller feels their property may be worth, this may be misguided, given the research involved in the comparables that are used to support the offer. 

For those considering part exchange, ensure that the housebuilder explains in detail the basis of its scheme and their obligations. McLaws comments: “Unless you are moving immediately into your new home, you will almost certainly have to make your home available for viewings and continue with its maintenance and upkeep.”

Check what the housebuilder’s offer includes.  Integrated appliances, fitted wardrobes, carpets, curtains, garden sheds and greenhouses, along with the usual fixtures and fittings will almost certainly be contained in the offer.

Just as in selling to any other party, a part exchange sale is subject to a satisfactory contract and survey.  Most housebuilders will insist on a full structural survey and may amend their offer after this if problems are shown up which need to be rectified.  However, as property professionals, if there are problems shown up in the survey, housebuilders are more likely to take the view that they can be put right, rather than walking away from the deal, as most private buyers would do.

McLaws adds, “Done in the right way, part exchange can save money, time and stress and keep people moving up the property ladder.”

CALA Homes offers its Part Exchange scheme on selected plots across the UK. In the west of Scotland there is a selection of housetypes to suit all from apartments, townhouses and mews properties to spacious detached homes.

Selection of homes available across the west of Scotland with prices from:

·         Canniesburn:  £175,000 – part-exchange not available at this development.

·         Farriers Way:  £329,000

·         Kinnaird Gardens:  £195,000

·         Russell Brae:  £275,000

·         Wallacefield:  £368,000

For further information please visit www.calahomes.co.uk.