Hi Kathy,

It is all a negotiation on both sides, as long as the buyer and seller both agree on the value of both homes then it works out. Make sure you have a real estate representative and an appraisal done, at least to cover your side of the transaction. We work with Prudential Preferred, Realtors, a company that does a great amount of business in Kalamazoo. We work out of Grand Rapids, but I would love to refer you to someone that can help.

Thanks

I work with some builders who have offered this, and basically the way they do it is that they order an independent appraisal, and they guarantee you 90% of the appraised price if your home does not sell. I'd say that's pretty fair, especially considering if you listed the home for sale most buyers nowadays are probably going to try and lowball the offer by 10-20%. Now keep in mind an appraisal is a reflection of current market prices and is based on sales in the last 3-6 months. So what you would consider a "fair price" may differ from what the other party thinks