Home Buying in 90045>Question Details

Dave826, Other/Just Looking in San Diego, CA

I purchased a home about months ago. I really liked a house about two blocks away from the one I am in but

Asked by Dave826, San Diego, CA Sun May 3, 2009

the price was about 20,000 higher than I wanted to pay. now that house has been reduced to even less than the house i am in now. is a house swap really an option? the house I am in is also a newer house

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4
Dot Chance’s answer
Hi, Dave. There are so many factors that would play into this. Is the desired house an REO? Is the seller in default?

As Monique said, if you SOLD your home so soon you would more than likely lose some money. Have you considered leasing your home and buying the other home?
Web Reference: http://www.DotChance.com
1 vote Thank Flag Link Sun May 3, 2009
A house swap would only be an option if the current owner was willing to do so. If they are in the market to sell and the proximity is that close, I doubt they would be willing to swap... but you can always contact the agent listing the home and ask them to ask their sellers.
1 vote Thank Flag Link Sun May 3, 2009
Cannot do a 1030 exchange on residential single family homes. Contact listing agent on home you desire. I doubt if seller would want to purchase your home so you could purchase their home. Seller would be in same position of having to sell a home.In any case, talk to listing agent see if there is possibility of you purchasing desired home. Other option can make an offer on home you desire with contingency that you would have to sale your home. Sellers are not crazy about that contingency. Other option can put your home on the market and hope it sells before desired home sells. Hope information was helpful.
0 votes Thank Flag Link Sat Feb 16, 2013
Hello Dave826,

Swaps are not happening in this market. My advice is to sit tight because chances are if you sell your home now you will lose money. I know it's a bummer but eventually all the houses will go up.

Good luck!

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
0 votes Thank Flag Link Sun May 3, 2009
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