Citrus Living – Part Exchange
Our Approach
From the experience of working with both national and smaller 'niche' developers (mainly in the retirement sector), Citrus have established a successful part exchange business based on appreciating that the needs of individual developers and their clients differ.
Through working in partnership with a developer, Citrus PX is able to tailor a scheme to meet their specific requirements, which we believe to be the key to forming a successful and lasting relationship. Our approach particularly meets the needs of regional or local building companies, as a part exchange scheme allows them to compete for business with national home builders whilst also contributing to increased sales and cash flow.
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Benefits for Developers
The current relatively low level of house sales makes it vital for new home builders to be able to offer a range of incentives to help customers to purchase one of their new homes. Offering customers the opportunity to part exchange their current home for a new one offers the developers the following benefits:
- Potential to increase the volume of sales
- Less capital tied up in unsold homes and improved cash flow
- Customers can be offered a guaranteed price for their property enabling them to arrange finance
Benefits for Customers
The housing market at the moment is suffering from low levels of confidence but people still both want to and have to move house. It is therefore essential to make the process as easy as possible for potential customers and part exchange offers them:Potential to increase the volume of sales.
- Certainty of a buyer in a difficult market
- No estate agents fees or EPC required
- Offers are normally made within a week of an initial request being made
- The amount offered can be close to market value
- No chain of dependent sales to potentially break
- A certain moving date
- A relatively stress free moving experience
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Our Flexible Approach
Citrus PX looks at each individual property on its' own merit and value it on the criteria of location, condition and saleability based on local market information. Each property is independently valued by a RICS surveyor who estimates a market valuation and a 'quick sale' valuation with comparable evidence to support them.
Suitable Properties
Most conventionally built properties are suited to part exchange and the two key aspects of our own research are focussed on whether the local housing market is sufficiently buoyant to enable us to re-sell the property within 6 weeks and where the property is mortgageable. Otherwise the only properties that we will not consider are retirement flats, park homes and houses built to the 'no fines' type concrete panel method (mostly post war local authority built).
An Example of Part Exchange Deal
Contact Us
Part exchange is most effective where a scheme is tailored to meet the specific needs of both a developer and their customers. Please contact us on 0156 4770 080 or e-mail phil@citrus-group.co.uk for more information.
PROPERTY PART-EXCHANGE THROUGH CITRUS
Citrus now offers the provision of property part-exchange to house builders. We have been particularly active in the retirement market and have facilitated and enabled a number of individuals moving from their existing properties into new retirement homes through the process of part-exchange.
CITRUS TEAMS UP WITH APOLLO TO LAND £100M PORTFOLIO
Citrus Group, the specialist property development and investment group, has completed the freehold acquisition of 15 Care Homes in Northern England for £95.5 million through a joint venture with Apollo Real Estate, the international real estate fund manager.
CHELTENHAM
Detailed planning consent has been obtained for a 78 Bed Care home in Cheltenham.
