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A & J stephen (Builders) Ltd
News from A & J Stephen Builders Perth Scotland

Part Exchange - Oiling the wheels of the property market

House-hunting with a house to sell? Had you considered ticking both boxes at once?

With our Part Exchange ('PX') offers, that might just be possible.

From time to time, and on selected plots only, we offer PX as an aid to help those looking to buy one of our new homes.

But how does it work?

Let's take a look at your existing property first. Put very simply, we will arrange an independent valuation by a local, independent Chartered Surveyor, and offer you a fair market price for your current property.

As you would expect, there are criteria to be met but, if all is in order, we could be offering 95% of the full market value for your current home.

Assuming you wish to proceed, we liaise with solicitors to complete the purchase.  Sounds simple? Well, it generally is!

What’s in it for you?

  • Little or no marketing costs;
  • No estate agency fees (could be up to 1.5%);
  • Reduced legal fees;
  • No chain to depend on;
  • The prospect of a 10 year NHBC warranty together with Stephen customer care support for your first two years.

One 'happy buyer' who went down the PX route is Rhian Morgan who lives in our popular Chapelton development in Aberdeenshire with her family.

Rhian said, "We have family in the Stonehaven area as well as the Central Belt, and we wanted to be closer to them while still living near Aberdeen. As we used to live in a three-bedroom semi-detached house in Danestone in the north of Aberdeen, moving south was the logical choice. The sellers' market in Aberdeen hadn't been very good and while we could afford to wait for our house to sell, we wanted to ensure we had moved and settled as soon as possible prior to our son starting school in 2018.

"Like many home buyers, we researched our options well in advance of going along to the town. We knew other builders had been offering part-exchange and so on a visit to Chapelton we asked if this was an option. We found Stephen to be very helpful with the part-exchange process and they ensured we were able to move in on the weekend we had planned to do so. From initial conversations about part-exchanging through to accommodating our requirements for floorers to measure-up and fit different flooring, the overall experience has been great."

The small print

  • Your existing home must be less than 10 years old and located in a marketable area.
  • Your chosen new home must be 30% more than the value of your current home.
  • Your chosen new home must have completed or be due to complete within the next three months.
  • You must reserve the property you are looking to buy and reserve it at the cost of £1,000 prior to the survey.
  • If you do not accept our offer based on the survey, we will return your reservation fee less £250 which covers the cost of the survey fees.
  • On acceptance of our offer, you must enter into a missive and conclude the bargain within 21 days.
  • You must be in a position to move home or legally complete on the purchase of the new home in less than 8 weeks.
  • Any client extras chosen (dependent on build stage) must be paid in full when ordered. 
  • If you have extended or altered the layout of your home (including cavity wall and roof insulation) you must have all the necessary consents/certificates to confirm the work carried out.
  • If you assist us to sell your home prior to you moving to your new Stephen home then we will arrange to pay you £1,500 when the property is handed over to the new owners.
  • There is a £1000 retention, which we will repay, provided your home is handed over to us in a clean and marketable condition free of any damage which may have occurred during removal process.

For more information, please contact out Sales team on (01738) 620721, email sales@stephen.co.uk or visit our offers page.

Property taken in part exchange

Registered in Scotland 57720

Consumer Code for Builders
Homes for Scotland