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Home / Articles / Real Estate / Ask Gabe /  Can I Trade My House?
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Thursday, September 1,2011

Can I Trade My House?

 
Ask Gabe
Questions to gpalotas@happyherald.com Call (561)394-7466 to “Ask Gabe” in person.

Q: Can I Trade My House? -by Thomas Barry, Boynton Beach

A: When the real estate market is down many sellers consider options they would not have considered before. One option often overlooked is trading properties. This stragedy involves swapping houses with another seller with the potential to help both sellers get what they want. How It Works? The basic idea behind a house trade is simple. You sell your house to someone, while at the same time, buy their house. It is technically two separate transactions in which two houses are bought and sold. However, the deals must close almost simultaneously on the same day. Each party gets a loan to pay off the existing mortgage on each house and to pay for the equity that the previous owner had.

To facilitate swapping houses is not something everyone is familiar with. Before you can swap a house, you must find a partner to swap with. The other person also has to have a house you like and it has to be in the right location. This can make finding a partner difficult for this kind of transaction. Many who wish to swap turn to online house-swapping sites. This way, you can look at the houses online before getting serious about a deal. Trading your home has advantages you may not receive when selling. For example, when you trade your home, you are more likely to get the price you want out of it instead of settling for a low offer. Both parties want to get the most they can get out of the transaction so the sales prices are usually strong. Another advantage is you will not have to make two mortgage payments to secure the house you want. Your house sells at the same time as you buy the other. Although trading houses can be attractive, it does not always work out. Many of these deals fall through because these transactions can be confusing and when you trade with someone in another state, it can get even more confusing for both parties. A trade between two homes-or a house swap-is a feasible alternative to buying a house. For those who can’t afford to buy a new home, it’s a convenient method to get one with help of someone willing to trade their respective abode. Of course, you need to do some thorough homework before making a trade successful.

Happy Herald Newspaper invites you to trade or sell your house with us. We will be glad to facilitate and provide a platform to market your property on our website and through our sought-after monthly publication. For further information contact Happy Herald Realty and we will be glad to provide you the details how you can trade or sell your home for as little as $499 without seller’s commissions and with up to six months of marketing and pictorial exposure of your property in our Real Estate Section in Happy Herald on on our webiste wwwHappy Herald.com. We attend and host exchange clubs regularly that provide many leads and alternatives to help to either sell or exchange your real estate properties. Happy Herald Realty (954) 562-0110


 

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