Posted by: Connie YeeIn the current downward trend of the house market, individuals are looking for creative tactics to sell their house. The increasing popular trend in the real estate market is “house swapping.” The concept of house swapping is to have two owners, each owning a house. These owners come together via the internet, and purchase each others home (house swapping). This is a method for each respective parties to move to a new place without incurring the cost of selling and purchasing a new house. To find someone who has a home to exchange with, sellers can utilize several sites including homeexchange.com. During this whole process, communication between the two parties is KEY. This is because the condition, and location of the houses must meet both parties’ expectations.
House swapping can work as an exchange for a new house, but it can also works as an equity asset for a trade to a larger home. Robyn Yates explain that a seller whose current home valued at $500,000 can trade it in for a home that cost $2.5 million. It would not be a fair trade between the two parties, but the first seller’s $500,000 home can be an exchange with added cash values.
References:
Trading Spaces: The New Housing Market
Should I do a House Swap?
Home swapping trend could bypass valley
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