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Part exchanging property

How does a private property exchange work between buyer and seller? Not for brand new property

Asked on Oct 5 2012, Selling in Wrexham | Report content

Answers (1)

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  • It works in the same way that a normal sale works, except there is no chain and it is more straight forward. You agree a price, and one pays the difference, if one property is more expensive than the other. If borrowing, you get a mortgage for the difference in value. The acting solicitors on both sides get to work on the contracts etc, and it usually goes through quite smoothly.

    Answered on Oct 7 2012, Report content

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