From time to time Stephen offer Part Exchange (PX) as an aid to assist our home buyers. For a guide to how our PX option may work for you please consider the following :-
Our Part Exchange offer requires that certain conditions are met and, if so, we could offer 95% of the full market value for your current home.
Benefits of this offer to you may include
- Little or no marketing costs.
- No estate agency fees (normally 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.
How It Works
- Provided the purchase price of your chosen new home is 30% more than the value of your present home then we can consider further.
- The market value of your home is determined by a valuation report provided by a local chartered surveyor based on an 8 week sale period.
- The Stephen home you are looking to move into must have completed or due to complete within the next 3 months.
- You must reserve the property you are looking to move into and pay a reservation fee of £1,000 prior to having a survey carried out.
- 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.
- 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.
- Keys for all locks including windows must be provided.
- Where an alarm is fitted, it must be in good working order with a service record.
- We will instruct an electrician and gas engineer to check your ‘built-in’ appliances and central heating – any defects identified will have to be corrected by you prior to completion.
- Any category2/3 defects identified in your Home Report must be corrected by you.
- 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.
- Property should be less than 10 years old.
- Must be situated in a marketable area local to the development and not in close proximity to commercial properties.
- The differential in value should be no more than 70%.
- Our offer price will be approximately 95% of the valuation carried out.
- The survey will be conducted by an independent RICS surveyor recognised by mortgage lending panels.
- The Part Exchange Offer is only available on selected plots.
- You must be in a position to move home or legally complete on the purchase of the new home in less than 8 weeks.