Part Exchange Procedure
Part Exchange is a term used by the new homes industry. It is a process where you
exchange your home for a new home at an agreed price.
STEP 1.
On selecting your chosen plot an application form is completed by the Sales Advisor,
which contains brief details of your property and contact details.
STEP 2.
The application form is then passed to the Part Exchange Team who contact you to
arrange for three estate agents to come and value your property on behalf of Mersea
Homes. This is normally done within 48 hours of receiving the instruction subject
to access into your property.
STEP 3.
The estate agents then complete their report and send it to the Part Exchange Team;
usually the same day. Their valuation will be based on a realistic marketing price
where a sale can be achieved within 4-6 weeks. Based on these three figures and comparable
evidence you should receive an offer, subject to contract and survey, from our Part
Exchange Team.
STEP 4.
If this offer is acceptable to you, then at the chosen development, you will need
to complete a reservation form to reserve your plot. At this stage a non refundable
reservation deposit (amount relevant to development) is payable together with a
homebuyers fee (amount relevant to the property you are selling). Both these amounts
are refunded to you at completion.
STEP 5.
Once this is done a homebuyers survey is arranged within a few days to ensure that
the property is structurally sound.
STEP 6.
From now on we would require reasonable access to your property for viewings. The
estate agents will contact you with regard to getting your house on the market.
However, you do not need to worry about offers etc as Mersea Homes have agreed to
buy your home subject to contract.
You are not required to move out of your existing home until your new home is ready.
If you part exchange your home with us, you are not required to supply a Home Information
Pack for your property. Mersea Homes will do this for you.
Assisted Move Procedure
‘Assisted Move’ is our tailored package to get you moving if for any reason your
property does not fit our part exchange criteria.
Mersea Homes can take care of selling your existing property. We will appoint the
estate agents, to market your property, ensuring every effort is being made to promote
your home in order to achieve a sale in the shortest possible timescale. We will
even take care of paying the estate agents fees for you.*
How does the Assisted Move work?
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Simply choose the available house you would like to buy.
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Let us arrange the estate agents valuations.
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We will then discuss with you the estate agents valuations and marketing strategy.
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We will agree an asking price with you which is likely to attract a sale on your
property within a four week timescale. We will appoint the estate agents on your
behalf.
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We will keep you fully updated on the progress estate agents are making and will
closely monitor their performance.
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Once a prospective buyer submits an offer on your property this will be submitted
to you for consideration.
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When the sale has been agreed on your property you will be required to pay a reservation
deposit to secure the Mersea Homes property of your choice.
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We will keep you fully updated on how your sale and purchase are progressing.
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We will refund the cost of the HIP*
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We will pay the estate agents fees*.
Please note the plot of your choice will not be withdrawn from the market until a
suitable buyer for your property has been found.
*Estate agents and HIP fees will be paid by Mersea Homes on completion of your purchase
of a new Mersea Homes property.