How does the Part Exchange scheme work?
First of all, you need to find out which homes are available for Part Exchange by coming to the Sales Centre of your chosen Redrow development and talking to one of our Sales Consultants. Once you’ve found your ideal home, you’ll be asked to complete a questionnaire.
At this point, neither you nor Redrow are committed to purchasing, and the home you’re interested in will remain on sale. Then we’ll arrange a Redrow Part Exchange valuation, carried out by two independent estate agents. For Part Exchange to take place, the value of your property must usually be a minimum of 35% less than your chosen Redrow home.
What is the next step?
Appointed agents will provide independent valuations of your old house and comparable properties will be considered. After valuation, Redrow will provide you with a formal offer on your old house and, once accepted by you, a member of our sales team will view your property and explain the terms of the Part Exchange scheme, making clear that any agreement is subject to a satisfactory Home Buyer’s Report.
The cost for the Home Buyer’s Report will be paid for by Redrow, however it is your responsibility to cover the cost of producing up to date electrical and gas certificates for your property, confirming that the supply is safe to use. The Part Exchange offer is based on the agreement that all carpets, curtains, light fittings and any other negotiated fixtures remain in the property.
Reserve your new Redrow home
Once you have accepted our offer, and upon receipt of a satisfactory Home Buyer’s Report, your new Redrow home will be formally reserved. This will secure your chosen plot for the duration of the reservation period. You can then move on to exchange contracts and agree a date for moving into your new home!
How do I market my old house?
It’s expected that your house will be put on the market before you actually move out. Any potential buyers should be allowed to view the property at a mutually convenient time.
How does Part Exchange work after moving out?
All keys should be left with the Sales Consultant. At legal completion stage we will deduct a retention payment. This will be shown on your completion statement. A few days after legal completion, we will inspect your old property to ensure it has been left in good condition, with all agreed items left intact. Our legal department will then arrange to forward you a cheque to reimburse the retention payment. All in all, Part Exchange offers you complete peace of mind.
One exchange. One fast move. One less worry.
With Part Exchange, you’ve no need to worry about chains breaking down, or the difficulties concerned with price reductions up to exchange of contract. The price agreed remains the same, with the added assurance that the home you move into will be a brand-new Redrow home, with all its associated guarantees! And finally, you won’t have to worry about those costly estate agent’s fees either.