Part Exchange terms and conditions
1.1 Part Exchange is only available on selected plots and developments. Part exchange will only be available where the home being traded in is no more than 70% of the selling price of the plot being purchased.
1.2 Part exchange is only available up to a maximum value of £300,000 for your old property.
1.3 We are under no obligation to make an offer. If you have already incurred costs (e.g. estate agents or legal fees) at the time of negotiating a part exchange Barratt Homes will not reimburse these costs.
1.4 Any offer made will be at a fair value for your property. It should not be relied upon as a valuation and you should take your own advice in relation to this.
1.5 An offer made by us under the part exchange scheme is subject to any necessary further enquiries or reports.
1.6 We reserve the right to market the property you are selling prior to your move into a new Barratt Home and you agree to allow reasonable access to the property to facilitate the resale (subject to agreed appointments) and to the erection of a “for sale” sign at the property. You agree to cancel any existing agreements with estate agents and agree that you are responsible for any fees due to them.
1.7 You agree that no party is currently negotiating to purchase the property you are selling and that no introduction has already been made by any other party.
1.8 It is Barratt Homes’ intention that BDW Trading Limited will purchase your existing home and take legal title to it prior to selling it on to a third party, to allow you to purchase a new Barratt Home. If you withdraw from the transaction and Barratt Homes has found a prospective buyer for your home, Barratt Homes will not make an introduction between you and the prospective buyer. If an introduction has already been made by Barratt Homes or their agent you will be liable to pay a fee of £1,000 plus VAT to Barratt Homes to reimburse costs incurred and Barratt Homes will have no further involvement in facilitating the sale.
1.9 Solicitors will ask that you complete the Property Information Questionnaire and Form (PIQ/PIF). As Barratt Homes has no firsthand knowledge of your existing home the company will have to use these same PIF/PIQ forms for presentation to a subsequent purchaser for your existing home. You confirm that you will complete these forms accurately and acknowledge that a future purchaser will rely upon on your answers and that legal action may be taken against you if you are found to have given false information.
1.10 We reserve the right to refuse a part exchange and we are under no obligation to give reasons why. All valuations and decisions are final.
Movemaker terms and conditions
1. You must enter into a Movemaker Agreement with BDW Trading Ltd (trading as Barratt Homes) concerning the sale of your existing property, which will include a time period for the Agreement. A sample of our Movemaker Agreement can be obtained from your local Barratt Homes sales office.
2. You agree to Barratt Homes appointing a nominated estate agent who will market and sell your existing property.
3. You agree you will have no control over which estate agent we instruct, or the terms of that appointment.
4. We agree to pay the estate agent’s commission plus VAT for marketing and selling your existing property provided you legally complete on the purchase of a new Barratt home.
5. You agree not to instruct another estate agent to sell your existing property until your Movemaker Agreement has ended, that no party is currently negotiating to purchase your existing property and that no introduction has already been made by another party.
6. In the event that any existing contract with your estate agent cannot be cancelled without penalty, or if there is a penalty for dual agency, Barratt Homes will not be liable for any extra fees as we cannot be responsible for obligations contained in third party contracts. Please note that you will be liable for disinstructing your existing estate agent and for any abortive costs or dual agency fees according to your contract.
7. You agree to allow reasonable access to your property for viewings and survey purposes and to co-operate fully with our estate agents in their endeavours to market and sell your property.
8. If no acceptable offer is received within the time period set out in the Movemaker Agreement (usually 4 weeks from the start of marketing), we reserve the right to re-market our available plot.
9. This offer is also subject to the terms of your reservation agreement with us (on the reverse of Res Form A) which explains the circumstances in which we may retain part of your reservation deposit.