Part Exchange Fallback
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Part Exchange Fallback
Your customer may feel they may achieve a higher offer than the PX offer they received. Where time allows, we can market their property to see if we can drive a higher offer and this is unsuccessful they still have their PX offer to fall back on.
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Part Exchange Fallback
Your customer may feel they may achieve a higher offer than the PX offer they received. Where time allows, we can market their property to see if we can drive a higher offer and this is unsuccessful they still have their PX offer to fall back on.
If your PX customer is unsure about their PX offer, would you like to offer them an alternative approach thereby continuing with their reservation?
We Can Help …
Securing your customer with a PX offer and options for an AM service
The great benefits of a normal Part Exchange deal are guarantees and speed! By buying your customer’s home, they are able to reserve with you. It can all happen quickly.
Part Exchange fallback enables your customer to reserve one of your plots before having sold their current property.
The benefits of both Assisted Move and Part Exchange
If a Part Exchange deal is agreed between you and your customer but the plot they’re moving into is not close to completion, we can market the Part Exchange property under an Assisted Move scheme. If preferred your customer can “fallback” onto the original Part Exchange offer which was agreed.
This provides the benefits of both Part Exchange and Assisted Move with little risk of a sale falling through.
The importance of a strong valuation
As is common with our Assisted Move and Part Exchange programmes we start by establishing the value of your customer’s home. A good solid, well researched, well evidenced valuation, avoiding over or under valuation helping us to:
- Set expectations from the get-go for all parties
- Ensure that any valuation is well balanced and well evidenced
- Speed up the process
Our comprehensive Property Valuation Appraisals are based on the findings of up to three local estate agents, online comparisons of similar properties in the area and a study of Land Registry Data. We take into consideration the pros and cons of the area, the condition of the property, the location and anything that may affect the desirability of the house in question.
Once researched the findings and researched information is collated into a comprehensive and easy to read Property Valuation Appraisal report. This balanced, unbiased or inflated valuation value is used as the basis for a Part Exchange Proposal and, once the figures are agreed, the sale of the new property can proceed.
To see a sample of a typical Property Valuation Appraisal, Click Here.
Please note that the offer to your customer is normally a figure of up to 90% of the property’s value.
Part Exchange Fallback - How It Works
Step 1: Application
Complete our simple application form with your qualified customer and send to your dedicated team at Moving Made Easy.
Step 2: Valuation
We organise up to 3 local estate agents to value your client’s property, compiling a comprehensive valuation report, with recommendations for a competitive marketing price, sent to you within 24 hrs to discuss your Part Exchange offer with your client.
Step 3: Negotiation
If your customer feels the Part Exchange offer on the property is too low to proceed, and the plot they have reserved is not yet completed, we can offer our Part Exchange Fallback scheme, where the property is marketed under an Assisted Move scheme for a period of time.
Step 4: Market property
The property is then marketed under an Assisted Move scheme for an agreed time period, with the aim of achieving a higher offer for your customer.
Step 5: Offer agreed
The property will either sell under an Assisted Move scheme, if a higher offer is achieved, or PX against the initial offer.
Step 6: Agree marketing price
Once the PX deal has been agreed and the reservation has taken place, MME will get to work selling the property, instructing agents to begin the process.
Step 7: Offer received
Your dedicated sales progressor will drive the entire sales process from start to finish providing you with weekly progress reports towards completion and recouping of capital outlay.
The Benefits to the Housebuilder
- Securing your customer and generating great reputation for customer service
- Quick transaction timescales, exchanging on contracts in less time
- No sale chains
- Less risk to you, the housebuilder and no risk of the sale falling through
- A chance to achieve full or above market value for the PX property
Benefits to your customer
- Provides a guaranteed sale for your customer’s existing property
- A chance to achieve higher value than the PX offer
- No need to be a part of a sales chain
- Quick transaction times
Frequently Asked Questions
The risks are minimal.
Your customer in effect has two methods of attracting an offer on their home. The first is to accept a PX offer, the PX fall back offer, from you the housebuilder providing you with a guaranteed customer (who reserves with you know they have secured their sale). There is risk here in the form of the capital investment you have made in your customer's property, which you are waiting to recoup. Our thorough approach to property valuation mitigates risk as far as possible.
The second is for us to market your customer's property via our Assisted Move scheme. There is no associated risk.
Since two forms of sale are employed there is little risk to losing your customer and given our approach to valuation little risk to any capital outlay you may incur.
No, once the price of the fallback offer is agreed this will not change once the property is being marketed under an Assisted Move scheme and will not change if the property fails to sell on the open market.
Do please get in touch if you have any other questions; web chat (bottom right hand side of your screen), contact form or telephone.
We can also drive sales progression on your behalf
Freeing up your sales teams to do what they do best
We understand that your sales teams are often busy with your customers, introducing them to your products and focusing on reserving plots. Managing the progression of your customers house sale is time consuming. We can help save time and help preserve the focus of your sales teams.
We work with Housebuilders and House buyers up and down the UK, of all sizes:
- Driving sales progression forward on their behalf.
- Keeping in close contact with all parties.
- Providing reassurance and delivering completions helping sales teams to do what they do best, talk to prospective customers.
We focus on driving sales progression forward with teams of friendly experts who will:
- Keep in regular contact with you to provide all the reassurance and updates you and your team require.
- Work with all parties to drive the process forward on your behalf.
- Progress all links of the chain.
- Provide regular, accurate and relevant updates.
If you need a friendly and tenacious sales progression team, then we can help.
What type of housebuilders do we work with?
We work with housebuilders of all sizes across the UK.
From small local developers with single sites to large national brands operating sites across multiple regions.
There are no minimum application levels.
Get in touch to find out more
Here to help you make the most out of the current market and sustain your plot sales now and in the future. Get in touch to find out more.
We’ll talk you through the options and opportunities to commit your prospective customers to your new build plots.
Southern Office
01787 222 700
southern@mme.uk.com
Northern Office
0161 507 5700
northern@mme.uk.com
Western Office
01823 211 230
western@mme.uk.com