Home Buying in Logansport>Question Details

Mamacat123, Home Buyer in Logansport, IN

is there anyway that i can trade my house now for a house of the same price range?

Asked by Mamacat123, Logansport, IN Mon Apr 18, 2011

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Yes you can trade homes. If you can find a SUITABLE home to trade for. They are called 1031 exchanges by the IRS and they DEFERR capital gains taxes. Seldom are properties perfectly equal in value so BOOT or money is used to make the exchange equal. To make an exchange work the properties must be of a LIKE KIND meaning a home for a home. Not a home for a business. I would be far short of giving you proper advice it I didn't say SEE YOUR ATTORNEY & CONSULT WITH A CPA before doing one. Search "1031 exchange" on the net to find more information. Good luck.
0 votes Thank Flag Link Sat Feb 2, 2013
Sure, if you can find somebody willing to trade with you, there's no problem with the approach. Real estate investors do this all the time.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat Feb 2, 2013
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