Part exchange explained

Why should you consider Part Exchange?

You’d trade-in or part exchange your old car for a new one for a quick and easy sale, so why not do the same with your home?

We can help you avoid all the stress, hassle and worry of putting your house on the market, trying to find a buyer, waiting for a sale, and then hoping the property chain doesn’t break. Just part exchange your existing property for a brand new Taylor Wimpey home and we’ll do all the work for you. 

New homes by Taylor Wimpey in Bristol

If your existing property is worth around 70% of the price of the new home you are looking to buy from us, you could be able to part exchange it.

Whether or not your home qualifies for part exchange will depend on a number of factors, including its location. If it does qualify then we will buy your existing property from you when you buy a new home from us. 

This means no property chains, just a straightforward sale. You’ll also avoid having to pay estate agents fees and the inconvenience of putting your house on the market. 

Why do we do this? Put simply, selling a new home to you as a chain-free buyer is very valuable to us. It means that there is less chance that the sale will be delayed or will fall through because of problems further down the chain that we, or you, have no control over.

Take a look at our Part Exchange scheme in more detail.

So how does part exchange work?

There are three simple steps to successfully part exchanging your existing property for a brand new Taylor Wimpey home.

Step one

  • We start by asking you a few questions about your existing home – the location and expected value.
  • If your current home is no more than 70% of the value of the new home you have chosen, you could be able to part exchange it.
  • If our Part Exchange terms and conditions are acceptable to you, you can fill in a simple form and make a provisional reservation on your new Taylor Wimpey home. The reservation will be secured once the Part Exchange has been agreed.

Step two

  • We will arrange for at least two independent Selling Agents to carry out valuations of your existing home.
  • These agents will give us their professional opinion of what the expected selling price of your home would be on the open market (this is different to an asking price).
  • A Taylor Wimpey Part Exchange manager may also visit you to get a better understanding of your existing home and its location.

Step three

  • After receiving these valuations, we will make you a verbal offer for your existing home. We will then confirm our offer in writing.
  • If you agree to our offer, you will need to instruct your legal advisors. We will instruct our solicitors as well. 
  • Now the provisional reservation on your new Taylor Wimpey home becomes a full reservation.

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Is there a catch?

A common concern with Part Exchange is that the valuation you receive is based on a quick sale and therefore likely to be a bit less than the full market value. 

As we use more than one independent surveyor to assess the value your property, you can rest assured that we've based our offer on realistic selling prices.

You should also bear in mind that: 

  • you’ll save money by not paying estate agent fees; 
  • you won’t have to suffer the hassle of lots of prospective purchasers viewing your home; and
  • you won’t have to worry about a long property chain affecting the sale of your existing home and causing delays.

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Don't just take our word for it

When Richard Tanswell and Jane Morris decided they wanted a quieter location in which to bring up their new baby Izabella, they moved into their new home without even putting their existing house on the market.

Sarah Eacott and Matthew Hill had been searching for their perfect home for some time when they visited Weavers Gate. Sarah had already sold her house but Matthew had a flat that he wanted to sell quickly before the couple get married. Sarah says:

When we first visited the development and Liz, the sales executive explained all about their Part Exchange scheme, it seemed like the perfect solution for us. I’ve had really stressful moving experiences in the past so not having to put a property on the market ourselves was a huge relief, and seemed to take away all the hassle of moving. Without Part Exchange I really don’t think we would have been able to move into our dream home so quickly.

Sarah Eacott, Weavers Gate

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