- New home builders or developers looking to release their potential customers (homeowners looking to sell their original house) from existing chains whilst ensuring a guaranteed completion date.
- Buy Investment Properties makes a formal part exchange offer for the vendors property, the new home builder can package this deal as they see fit before presenting to the vendor. If the vendor accepts, BIP moves ahead with a quick cash sale and the completion happens in the defined timescales.
- The new home builder or developer gets in touch with BIP for a free consultation and the details of the vendor’s property.
- Two independent estate agent valuations are conducted on the property
- BIP then makes a formal offer based on this valuation
- The new home builder then packages up the deal and presents the offer to vendor.
- A RIC’s survey is commissioned and a solicitor is instructed (these costs are covered by BIP)
- The sale is completed at agreed timescales with the vendor and developer.
The benefits for your business
- Close your own house sales and services: BIP helps your clients move on with their property sale so they are free to engage with your services. Our part exchange also helps you tie customers in to a purchase on your new home and removes the risk of them not going ahead with your service.
- Guaranteed sale: As a genuine house buyer with our own cash funds you can rest assured that the sale is secure and will not fall through.
- No sale chain: When we purchase direct there is no middle man involved or reliance on lending, so there is no issue of the sale chain breaking. In addition, we handle all of the work allowing you to focus on your products and services.
- Fast completion: We can complete within 7 – 14 days allowing you to immediately position your new home for sale to your customer.
- Bespoke service: Our service is flexible and can be adjusted on a case by case basis. For example adjusting completion dates and cash flow to suit your service and vendor interests.
Benefits we provide for your potential customer (vendor)
- Additional benefits for the vendor – Vendors are given 48 hours grace to vacate the property. No fee charged and we cover all legal fees. Best possible offer provided. Weekly legal updates are given to vendor and builder until exchange of contracts . Vendors can drop keys off with estate agent office or estate agent can collect them.
- Vendors can stay in the property for some time – the moving out process can sometimes be delayed and usually involves a lot of effort and stress, BIP provides two free weeks for you clients to occupy the house before moving out to their new home.
- Dedicated customer service contact – Our service is truly hassle free for you, every vendor will be introduced to one of our experienced members of the buying team who will be available at any time to explain the process and keep them updated.
- Guaranteed completion date – Either the new home builder or the vendor can set the completion date, we will work towards the timescales provided.
Extra benefits and services for your business
- Funded deposits – BIP can arrange for exchange to happen before the specified completion date so that the vendor will have the funds to secure a deposit on your new home or property development.
- Upfront top-ups – We can provide finance upfront for you to top up the part exchange deal, thus ensuring a stronger proposal for the vendor at no risk to you.
- Immediate offer – Our initial offer can be provided almost immediately on the same day as getting in touch with us. This will give you and the vendor a clear answer if our service would be suitable. Please note our formal offer can only be provided after the third party valuation has taken place.
- Updates – Our dedicated contact will keep you updated at every step of the part exchange process, in addition the same manager will keep the vendor informed, ensuring all parties are aware of progress and completion deadlines are met.