"Selling a house is often quoted as the second most stressful event in someone’s life after divorce, so it is no surprise that anything that makes this process easier is welcomed"
Part exchange is a growing option for retired people looking to downsize according to Spicerhaart, which has seen a large increase in the past year of people using property part exchange to help them move.
Part exchange gives people the opportunity to sell their property quickly, with minimum hassle and cost. While the person selling their property may receive less than were it to be sold on the open market, an exchange of contracts on both the existing property and the new one will usually occur in under 28 days.
Spicerhaart partners with a number of property investors, who guarantee to buy the retired person’s property – regardless of the condition of the property. There are no estate agency fees to pay and a guaranteed buyer; making it a quick, easy and painless way to downsize and move home.
In addition, at least one of Spicerhaart’s investment partners has pledged that, if, when the property is later sold on the open market, it receives more than the target price, they will return 60% of the uplift in value to the original owner.
Neil Knight, business development director of Spicerhaart Part Exchange & Assisted Move, said: “Selling a house is often quoted as the second most stressful event in someone’s life after divorce, so it is no surprise that anything that makes this process easier is welcomed with open arms. This is particularly the case with the older age group many of whom are less able to cope with the stresses and strains of negotiating with estate agents, potential buyers viewing their family home and the long drawn out process of offers that may then fall through.
“Part exchange takes all that away from them, usually achieving exchange of contracts in just 28 days, providing a guaranteed sale and no estate agency costs. This enables people to downsize both quickly and easily.”