Can't Sell Your Home - Swap It!
Could swapping homes be the next wave of creative selling techniques? I’m not convinced, but if you’re lucky enough to be one of the few who is able to make it work for you; I say “go for it”.
It’s not a swap as in let’s swap – I’ll pay yours and you pay mine. Each home owner qualifies for a new loan on the others home. You would have to settle the equity difference, since it’s highly unlikely the equity would be equal in each home.
I read about this in a local Indiana newspaper online and while I believe it is a true story, with seller’s named Peek and Bou; I’m cautiously recommending the article for those who may benefit from the happenstance of finding a home to swap. Check out the article here – Swap Your Home
Wow! I had not heard of this before, I wonder who will take the liability of all the legal paperwork? Or will agents still play a role in writing a SWAP Contract? This will be interesting to watch.
The last line in the article has athe word that says it all: "creativity." That was my thought as I read your blog, and worked my way through the article. Obviously this would have to be a "perfect" match, but if it works, great!
Interesting news for real estate lover that they can exchange their residence
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I'e heard about this, but I have not seen it here, yet. (Austin)
Wow Nice idea.I never heard this idea before.It could be better technique then selling home.It is really creative idea.Thanks for sharing.
I actually did this in the 1980s. I traded my house for another house in a different location. It was also a deep depression and this was the only way I could get my daughter into the school district we wanted her in. My house was on acreage and I traded it for another house in town. Both houses were free and clear that were involved in the transaction so it worked out beautifully. It does have to be a perfect fit for it to work. But it did in my case.
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