Financing would be a problem. Your lender would not release you from your loan and would not allow the deed to your house to be transferred to a new owner unless that owner essentially bought the house from you. You would have the same challenge in obtaining the deed to the San Diego house. What if one of you did not qualify? Of course, if neither of you traders, who had houses that matched each otherâ€™s needs, owed anything on their houses that would be a different story. What are the chances?
Assuming that both houses are financed, what are the chances that both homeowners had equity positions that are equal enough to avoid one of the traders having to pony up substantial cash to equalize the trade value?
Have you checked? Will a million dollars buy a house in San Diego that is comparable to your Phoenix house?
If you are serious about making the move, engage with an experienced San Diego Realtor and find out what you can afford for the proceeds of the sale of your Phoenix house. Then, assuming you want to make the move, sell your Phoenix house and buy in San Diego.
As other agents have shared, it can be difficult to find 2 parties, both wanting what the other has, and to do a trade. It may in fact be similar to looking for that proverbial "Needle in a Haystack". However if you do have equity in you North Phoenix property, your best scenario may be to sell that property and buy in San Diego. I too, am from North Phx/Scottsdale area, and I can refer you to some excellent agents, if you do not have one yet. If you would like my help getting to San Diego, just let me know! It is a perfect 72 degrees in San Diego at 2:20PM, in July, nice huh?
Windermere Real Estate
Question --- why a trade? Why not sell your Phoenix property, come to San Diego ... rent for a few months, discover your travel sequence, decide the right location where you want to live and start your home buying process ...
You'd be the best buyer out there! Nothing to sell, cash in hand, could close quickly ... You'd have it all!! The best position any seller here would love to have ... a buyer like you!!
Another thing, once you have your Phoenix property in escrow (a committed buyer) you could actually start your search here and do what we call a "concurrent closing," so all properties close at the same time! The way this works is you would state in your listing something like "Closing subject to seller finding suitable replacement property with concurrent closing date." (May slow showing some, but a serious buyer, in love with your home, would not be stopped by this ...)
This is just a couple thoughts to make your transaction a little easier. We have several other ideas that could work as well... Like most have said, property trades are almost impossible and very unlikely to happen...
Hope this helps some. Contact us if you'd like our help or if you have any other questions... We too, being a part of the large real estate firm (Century 21), have a very good relationship with top producing agents in your area. We could synchronize the entire process for you ...
-- Rod --
The Powers HomeSelling Team
858-444-2443 Office Direct
Lic. #: 00897145
Serving San Diego Families for Over 30 Years!
Trades are almost impossible. I miss the Phoenix area (and love it), from shopping in Scottsdale to partying on Mill Ave. It was always nice to see the name Barry M. Goldwater on Sky Harbor...
One question I have is when you mention "to a comparable house in San Diego". What do you mean by comparable? comparable in size/neighborhood, or comparable in price.
I would love to help you buy a home in San Diego,
Hector R. Gastelum
Realty Executives Dillon
Trading homes is very tough and does not work out most of the time. It depends if have equity or if you donâ€™t .And same for the potential trader. It has to be an even match and benefit both sides of the transaction. I recommend getting familiar with San Diego Properties if you havenâ€™t. Then sell your home in Phoenix, and purchase a property here. There are such great deals here in San Diego, you don't have to spend a million dollars on a home. You can always spend less to find a suitable home that meets your needs. Then you can have cash flow for investments such as income property, home flipping or whatever suits your needs.
REAL ESTATE CONSULTANT
cell. 619.581.9348 | fax. 619.521.0100
2365 Northside Dr Suite #200
San Diego, CA 92108
Prudential California Realty
Please feel free to contact me and we can discuss in detail.
Coldwell Banker Real Estate
930 Prospect Street
La Jolla, CA 92037
(858) 395 7727