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Part Exchange House: What Is It & How Does It Work

Table of Contents

If you’re looking to move but dread the thought of dealing with estate agents, endless viewings, and the uncertainty of the open market, then part exchange might be the perfect solution for you.

In this guide, we’ll walk you through what part exchange is, how it works, and why it might be a better option for you than the traditional route. We’ll also share some expert advice to help you make the best decision for your unique situation.

What is Part Exchange?

Part exchange is a hassle-free method of buying a new home while selling your existing one. In a part exchange deal, a house builder purchases your current property, allowing you to buy a new home from them in return. This process eliminates the need for estate agents, making the transition smoother and quicker. 

Part Exchange Homes Near You

Finding part exchange homes across the UK, with those offered by Esteem Homes, is a process that is more straightforward than it may look at first.

Interestingly, it’s not common practice for developers to openly advertise their part exchange options. Often, the availability of part exchange is subtly communicated to interested buyers, particularly those who express a keen interest in a property but are yet to sell their current home.

Esteem Homes has made strong connections with various estate agents nationwide. These established relationships with professionals in the real estate sector ensure that potential buyers are guided and connected efficiently, making the process of part exchanging your home with Esteem Homes smooth and simple.

Part Exchange Homes Criteria

Before diving in, let’s understand the eligibility criteria for part exchange homes.

Property Type
  1. Detached, semi-detached, or terraced houses are usually accepted.

  2. Flats and maisonettes might be considered but are often less preferable.

  3. The property should not be a listed building or located in a conservation area.

Property Condition
  1. The home must be well-maintained and in great condition.

  2. Properties requiring extensive repairs or renovations are less likely to be accepted.

  3. Houses should meet specific structural and aesthetic standards set by Esteem Homes.

Value Ratio (100% Part Exchange)
  1. In a 100% part exchange program, the value of your existing property may be equal to the value of the new home you intend to purchase.

  1. Your property is within a location that fits Esteem Homes’ requirements.

  1. The applicant should be the legal owner of the property, with no disputes or complications regarding ownership.

  2. There should be no outstanding mortgage issues or disputes with lenders.

  1. All necessary legal and ownership documents must be available and in order.

  2. Missing or incomplete documentation can lead to disqualification.


Maintain Your Home

A well-maintained home is important. A property in great condition is more likely to meet Esteem Homes’ standards and be accepted.

What does Esteem Do After the Part Exchange?

Once Esteem acquires your property through part exchange, they take responsibility for selling it.

Esteem will conduct a thorough assessment and valuation of your home, making any necessary repairs or improvements to enhance its marketability. Then, they list the property for sale, managing the entire selling process until it finds a new owner.

This allows you to focus solely on settling into your new home without worrying about the sale of your old one. 

How Does Part Exchange Work?

Wondering how part exchange works? (First Time Buyer? Look here) It’s pretty simple! Let’s walk through it step by step. 

Step-by-Step Process


The first step is contacting Esteem Homes to tell them you’re interested in part exchange. Esteem will do a check to see if your home fits what they are looking for.

Then, you’ll need to give them some information about your home, like how big it is and where it’s located.


Esteem Homes will have experts come and look at your home to figure out how much it’s worth. This is done by a few different professionals to get a fair idea of the value.


Now, Esteem Homes will give you an offer based on what the experts said your home is worth.

Take your time to think about the offer and make sure it’s the right offer for you.


If you like the offer and say yes, things start moving! The legal stuff gets sorted, and you agree on when you’ll move.

On the agreed day, you move out, and Esteem Homes takes care of the rest. You’ll then get the keys to your new home!

Why Should You Part Exchange Instead of Using an Estate Agent?

Selling your home the usual way, through an estate agent, is what most people do. It’s a good way to get the best price and lots of people will see your home is for sale.

But, it’s not always smooth sailing. Here’s why you might want to think about part exchange instead: 


Save Your Time

If time is of the essence for you, part exchange can be a lifesaver. Assess your own needs and timelines to find out if the quicker part exchange route is better for you than the traditional estate agent path.

Pros and Cons of Part Exchange

In this short section, we’ll highlight some of the key ups and downsides of going ahead with a part-exchange of your home:



The Bottom Line

We hope this guide has given you a clearer understanding of what part exchange is and how it can simplify your move.

Whether you’re in a hurry to relocate or just want to avoid the stress and fees that come with selling on the open market, part exchange offers a viable alternative. With Esteem Homes, you have a trusted partner that can guide you through the process, making it as smooth as possible.

Key Takeaways to Remember:

  • Time-Saving: Part exchange can be a quicker route to moving into your new home.
  • Less Stress: Avoid the hassles of traditional selling methods like viewings and negotiations.
  • Guaranteed Buyer: With part exchange, Esteem Homes becomes a guaranteed buyer for your property.
  • Direct Communication: You deal directly with Esteem Homes, reducing misunderstandings and speeding up the process.
  • Cost Savings: You can save on estate agent fees, which can be big.

Remember, every move is different, and what works for one person might not work for another.

So, consider your own needs, consult with professionals, and weigh the pros and cons before making a decision.


James - Financial Enthusiast

James is a dedicated financial enthusiast. With a deep passion for financial analysis and investment strategies, he brings a unique perspective to his role in property development.