The delays and disasters to property purchases caused by chains collapsing can be avoided when using a Part Exchange scheme to buy a brand new home.
Buying and selling a house is rated as one of the most nerve-wracking life events that the average adult undergoes – harder to cope with than changing jobs, getting married or even having a baby. Only getting divorced is rated by the public as a more stressful experience according to a survey by Which? Mortgage Advisors.
The biggest problem with house moving is the potential let-downs: the rollercoaster of emotion that you are finally on the way to your new dream home, only to find that something has gone wrong and you are right back to square one. It’s estimated that around a third of home movers experience the nightmare of the deal falling through completely, while according to Government research on the housing market, 40% of buyers suffer unexpected delays in the process, sometimes requiring them to move into temporary accommodation or put possessions into storage.
Choosing to buy a brand new home makes things easier, as you then know that at least one half of the transaction will be straightforward. When you purchase a property direct from a developer there is no upward chain to worry about, and there won’t be any nasty legal surprises that so often cause problems when you’re buying an older property. But even if you opt for a brand new home, if you are selling your existing property to someone who is part of a chain, then there is still considerable potential for things to go wrong.
It’s not uncommon for four or five purchasers to be involved in a chain, and it doesn’t take much to happen for everything to grind to a halt. For example, the person buying your home might lose their job, or discover that they can’t borrow as much money as they thought, or the person buying that home might find something they don’t like in the structural survey and try to renegotiate the price. All the while, you are helpless to get things moving, and may even lose the home you want to buy as a result.
There is, however, a solution to the nightmare of the chain if you buy a new property from a new homes builder like David Wilson Homes. The Part Exchange scheme takes you right out of any chains, so that your purchase and sale can go through smoothly and with as little stress as possible. Instead of having the aggravation and worry of finding a buyer for your existing home, you simply sell it for an agreed, fair price to a home builder such as David Wilson Homes, leaving you free to complete your new home purchase with no delays. As well as helping you to sleep more easily, the scheme has the added benefit that you won’t have any estate agent’s fees to pay, which is one fewer bill to deal with at a time when finances may be tight.
Lynnette St Quintin, Sales Director for David Wilson Homes Southern Counties, explains: “Part Exchange can really take the worry out of the whole experience of buying and selling your home. With no upward or downward chain to cause stress and delays, and no estate agent do deal with, you can relax and enjoy the thought of moving into a brand new home”.
Part Exchange is available at most David Wilson Homes developments including its three, four and five-bedroom homes at Heathwood Park in the West Sussex village of Lindfield, and the mostly detached, three, four and five-bedroom homes at Cane Hill Park, set in parkland near the village of Coulsdon in Surrey. To be eligible for Part Exchange, the home that you want to trade in must be valued at £300,000 or less, and be no more than 70% of the selling price of the new property being purchased.
For more information please visit: https://www.dwh.co.uk/
Lynnette St Quintin, Sales Director for David Wilson Homes Southern Counties