Take the uncertainty out of moving
Moving home is a big moment in life. While choosing your new home is the exciting part, selling your current one can sometimes feel like the most uncertain.
That’s where Part Exchange could help.
What is part exchange?
Part Exchange allows you to use your current home as part payment towards a new Owl Home. Instead of putting your home on the market and waiting for a buyer, we’ll arrange independent valuations and, if your property meets our criteria, make you an offer.
If you choose to accept, Owl Homes will purchase your existing home, allowing you to move forward without the uncertainty of a traditional property chain. Every move is different, which is why your Sales Advisor will guide you through each stage, answer any questions and keep you updated from start to finish.
Part Exchange
Your part exchange journey explained
We’ve designed the process to be as straightforward as possible and help you to secure the next home for your family.
Reserve your new home
Once you’ve chosen your new Owl Home, with your instruction we will pass your details to our independent Part Exchange partner.
We’ll arrange your valuations
Our Part Exchange partner will contact you to arrange independent valuations with two local estate agents and, where appropriate, a RICS chartered surveyor. They may also visit your home to carry out an inspection.
We’ll discuss your offer
Once the valuations have been completed, we’ll receive an offer for your existing home and talk you through it.
You decide
If you’re happy to accept the offer, we’ll arrange the next steps, including a survey of your property and request payment of your reservation fee.
If you decide not to go ahead, there’s no obligation to continue and your valuation fee will be refunded.
We’ll begin the legal process
Once everything has been agreed, both parties instruct their solicitors and work towards exchanging contracts and completing on an agreed date.
Time to move
When your new Owl Home is ready, you’ll complete on both properties and receive the keys to your new home.
If you need a little more time, you can make use of our complimentary Licence to Occupy, giving you up to one week to move out of your existing property and settle into your new home.
Customer Stories
I was blown away by the exceptional build quality of my new home. The attention to detail is outstanding, and the overall layout of the development is a breath of fresh air and it’s clear that real thought has gone into the design. Homes aren’t crammed together like in so many other places; there’s space to breathe, relax, and truly feel at home.
Tom
Wow what an experience from start to finish. My sales advisor has been an absolute star plus equally as efficient and timely with our completion. The part ex above and beyond, having a week to move made a potentially stressful time most pleasant. We absolutely love our new home.
Janet
We had an amazing experience purchasing our first home with Owl. They made our experience so smooth and were always there to help. Thank you to our site manager for all his help and kindness once we moved in, we’re so grateful for the extra mile you go to ensure we were satisfied with our new home.
Sophie
We were supported the whole way through and their sales team put us at ease completely. As first time buyers it can be really daunting to start the process but we were never rushed and felt that there was a lot of choice for us to look at. Seeing our house being built has been a fantastic experience and we’re really happy here.
Sophy S
My husband and I recently visited Owl homes in Alderton and have to say we couldn’t rate Owl highly enough. Being in the new build business ourselves we were very impressed with the build quality and the layout of the development too.
Tracy
The sales staff were also extremely helpful, welcoming and knowledgeable, taking the time to answer questions and making the whole experience feel relaxed and informative. A really positive experience overall and definitely worth a visit if you’re considering a new home.
Sarah M
Part Exchange
Frequently asked questions
If you’d like to know a little more about how Part Exchange works, we’ve answered some of the questions we hear most often. If you can’t find what you’re looking for, our Sales Advisors will be happy to help.
Can I use Part Exchange on any Owl Home?
Part Exchange is available on selected developments and plots, subject to eligibility and availability. Your Sales Advisor will be happy to let you know whether it’s available on the home you’re interested in.
How is my home's value decided?
We use independent valuations from local estate agents and, where appropriate, a RICS surveyor to assess your property’s market value before making an offer.
Do I have to sell my home myself?
No. If your Part Exchange application is accepted, Owl Homes will purchase your existing property, so you won’t need to find your own buyer.
What happens if I don't want to accept the offer?
That’s completely your choice. If you decide not to continue, your Part Exchange application ends there and your valuation fee will be refunded.
Find the perfect place to call your own
Terms and conditions of part exchange
- Eligibility and Availability
- The Part Exchange offer is available to UK residents aged 18 or over and is subject to eligibility and availability.
- Please note, not all properties are eligible for Part Exchange. You must own the freehold or leasehold of the property you wish to Part Exchange.
- The property must be currently used as the main residence
- Purchasing an Owl Home
- This offer is exclusively available when purchasing a selected Owl Homes property.
- Offers Are Not Guaranteed
- Owl Homes reserves the right to decide whether or not to make an offer for your property. All offers are specific to the property you’re purchasing and are subject to our standard Contract for Sale, as well as satisfactory survey reports, inspections, and any necessary further inquiries.
- Valuation Limit
- Your property must be valued at no more than 70% of the selling price of the new Owl Home you wish to purchase to qualify for Part Exchange.
- Property Valuation Process
- The offer for your property will be based on the valuation of an independent expert appointed by Owl Homes. The valuation reflects the likely selling price of your property within 4-8 weeks.
- You’ll need to provide access to our appointed agents or representatives to carry out these valuations and inspections.
- Survey and Inspections
- If required, we’ll arrange a full Structural or Homebuyers Report before exchanging contracts. This survey may take up to two and a half hours, so please make necessary arrangements to grant access.
- Defects and Repairs
- If any significant defects are highlighted in the survey, you may need to resolve these issues before contracts are exchanged. If major repairs are required, we may need to adjust the offer price.
- Offer and Acceptance
- After valuation and inspections, we may make an offer on your property. Offers are time-sensitive, so you’ll need to accept within 48 hours.
- If you accept, you’ll need to complete a new home reservation form, pay the reservation fee for your new Owl Home, and comply with our standard Contract for Sale.
- The property must be used as your main residence
- Access and Marketing
- Once the Part Exchange is agreed, you’ll need to provide reasonable access to your property for resale purposes (with appointments made in advance) and allow a “For Sale” sign to be erected.
- If you have agreements with estate agents, you’ll need to cancel them, and any fees due to them will remain your responsibility.
- Legal Representation
- You’ll need to appoint a professional solicitor to handle the legal formalities of selling your property and buying your new home. Please ensure your solicitor is instructed as soon as you accept our Part Exchange offer. We work with a panel of recommended solicitor and can make recommendations.
- Costs and Fees
- You’re responsible for standard costs involved in the buying and selling process, including solicitor fees, council tax, utility bills, and any certifications for gas, electrics, or similar.
- These responsibilities continue up to and including the day of legal completion, as outlined in the Contract for Sale.
- Retention Money/ Legal Completion
- On the day of completion, we aim to get the Part Exchange property inspected to ensure all items included remain in the property and it has been left clean and tidy and free from rubbish.
- After the inspection the £500.00 retention will be released to be return to you.
- Notice Periods
- If you’ve signed up to an agency agreement or similar, it’s your responsibility to serve the required notice.
- Withdrawal
- If you decide to withdraw from the purchase, you will be liable to reimburse us for the RICS survey, abortive legal fees, EPC and searches.