During the past 30 or so years, although not commonplace, we have been able to engineer home exchanges between private owners where effectively the two owners swapped properties.
Invariably, the value of one property was greater than the other in which case the differential was passed across on completion.
Determined to get more people moving in the current market, several Country Properties Branches have, for the last few weeks, been actively promoting the idea of exchanging homes. It has proved to be extraordinarily successful; numerous extra sales progressing speedily and with little hassle. As a consequence we are immediately extending the concept throughout the whole Network, establishing a special 'Home Exchange Register'.
There was an unexpected bonus gained by introducing the Home Exchange Register. It coincidentally generated several chains of sales where, although no one wanted to do a straight swap, one couple in each chain was willing to ‘buy in’ one of the other properties in order to complete the loop.
On several occassions, the smaller properties have been taken in part exchange for people’s children to live in/future investment and for ‘buy-to-let’purposes.
Either way it adds an extra and extremely effective dimension to our Home Exchange Register which benefits everyone.
Some might be concerned that they may not receive the correct market price, but values are researched and nobody agrees to an exchange unless all parties are happy with their scenario. Our previous customers have seen it as nothing but a WIN WIN opportunity.
PLEASE NOTE: The success of such a unique initiative hinges on extensive investment in terms of expertise and extra marketing. Our normal estate agency fees are therefore payable on all properties that exchange contracts as a result of the ‘Home Exchange Scheme’.