Considerations

D - House Trade: How about swapping your home?

           QUICK ANSWER: 

Consider trading your home if you have problems selling. It isn't that complicated because the process is really just made up of two independent sales transactions involving the same two parties. 

The properties do not need to be of similar value. You can advertise that you want to swap or trade your home on several nationwide internet sites while continuing to market it locally using traditional methods.

     

A trade has its benefits:

Why would you even want to expend your energies on this possibility? It depends on how motivated you are. Are you desperate and need to sell? This solves your problem without having to resort to wild price-cutting. Other reasons are if you have an unusual home or a location with limited buyer demand. 

In addition, a trade can be a great motivator for the house buying procrastinator who doesn't want to deal with going through the selling process. 

Putting the puzzle together:

Create some attention by including in an ad that you’ll consider a trade (be sure to add a few parameters you desire like: location, size, style, looking to downsize, etc.). This should be coupled with an open house to generate activity.  

Not only would you need buyers who like your home, but their home must fulfill your requirements. The owners of the other home would have to live in an area where you would consider relocating. The price ranges of both homes have to be mutually appealing as well as the size and style, age, etc.

Identify those who have shown interest in your home from open houses and showings but who are not making any motions about moving forward. 

Find out where they live and scout out their property to measure your own interest. If it's one you’d consider, give them a call. See if they're still interested in your home. Get the ball rolling by asking to see their home. 

Have an attorney draw up a contract if a trade will work and both parties agree to the prices for each property. 

Equal trade:

The two homes probably won’t have the same value. You'll need to arrive at an agreeable selling price for each other’s property. As an example, you could downsize in the trade from a $290,000 home to a $200,000 condo and the other party would pay you the difference. 

If you have disagreements over the perceived value of each other’s property, agree to seriously consider the values provided by a third party appraisal company as the selling prices.

Internet real estate trade web sites:

There is a real market out there for trading your home either with someone locally or with people in another area or state.

You should post your home on several of the following sites that have enjoyed considerable success helping people trade homes. 

OnlineHouseTrading.com

ree.com

HomeTradeNationwide      

Craigslist.org

DomusSwap.com 

GoSwap.org 

 Dare to be different.