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I was wondering what part exchange means? And is it an option to me?

Hi there I am interested in one of the properties on your site as it states part exchange is available and was not up to date with what part exchange is. I currently own a property in Mossgreen Crossgates, .The property is 52 Colliston Road, Dunfermline KY12. My current property is valued at around £116.000 and we have lived in it for 5 years.

Asked on Jan 6 2013, New Homes in Cowdenbeath | Report content

Answers (1)

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  • Hi Jambo1107, Part exchange, essentially, is an increasingly popular option for purchasing a house, whereby you offer up your own property as part payment for the home you are buying. It essentially means that the seller is purchasing your property for you. There are benefits to this for you, such as the fact you don't have to wait for a buyer to come along, one of the most troublesome aspects of the market at the moment, and you will also be able to miss out on having to pay estate agent fees, which can present a decent saving. These positives have meant that the number of people who are taking up the part-exchange option is increasing all the time. It is normally used for the purchase of new homes, but it can be used on others, such as the one you are looking at in Dunfermline. The best way to find out if the seller will accept your property as part of the part exchange option is to get in touch, but most should be eligible to do so. Thanks, Scott

    Answered on Jan 9 2013, Report content

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