Home Buying in 06901>Question Details

pattivb, Home Buyer in Darien, CT

MY NEIGHBOR HAS A LARGER HOUSE THAN OURS AND WANTS TO DO A SWAP FOR OUR HOUSE.

Asked by pattivb, Darien, CT Thu Jul 26, 2012

HOW DO YOU DO A SWAP.....STEPS, ETC. DO YOU NEED A LAWYER TO DO THE TRANSACTION?

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Answers

4
The Garthman Team’s answer
We certainly recommend that you have a lawyer involved, but first it may wise to have you and your neighbor hire independent certified appraisers to assess the value on each of your homes. That way you will each have a detailed professional analysis of the present value of the respective properties.

There may be a price differential in the values since you mentioned that your neighbor has a larger home. Of course, the appraisers will take certain factors into consideration: such as style of home, square footage, lot size, updates, etc. Your lawyer can then review the report and make suggestions as to how to proceed.


Good luck.
0 votes Thank Flag Link Sat Jul 28, 2012
If I was you, I'd do an inspection with a qualified licensed inspector to make sure the home don't have any surprise that you didn't plan on finding and could get costly! Find out what you own on your home, and definitely hire an attorney! Make sure its a real estate attorney as they know how to really handle deals like this and will protect you if things don't go as planned.
0 votes Thank Flag Link Mon May 26, 2014
First, speak with your lenders, if there are any. You have to make sure they are on board with the transaction.

Then discuss all the relevant details. Is there money changing hands? Who pays what closing costs? Are inspections needed? Mortgage considerations? What date do you want to do this? What fixtures and appliances are being left and which are being taken? Things such as this.

Now, get an attorney involved and let him do the rest of it.
0 votes Thank Flag Link Thu Jul 26, 2012
Yes; you should consult an attorney to proceed.
0 votes Thank Flag Link Thu Jul 26, 2012
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