Home Selling in 86314>Question Details

Al Bunger, Home Seller in Colorado Springs, CO

I have a Prescott Valley home that is for sale. However, I would like to trade for a home in Prescott Valley that would be of lesser price.

Asked by Al Bunger, Colorado Springs, CO Thu Feb 17, 2011

Do people trade homes very often within the same community?

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Answers

4
Hi Al,

Protecting your investment is your primary concern. You'll likely go through all the same channels and jump through all the same hoops as buying a home. Both homes will need appraisals, inspections, title work, etc... Why? You'll want to know that you're getting a legitimate home in exchange for yours. In a trade it's not about the "price", there's concerns of judgements, liens, encumbrances, maintenance, etc.

However, if you have a home with more square footage, and is of greater value, wouldn't it be better to sell it and have extra cash in the bank when you purchase? Also, marketing your home properly will ensure its exposure to the world. Is your agent doing everything they need to procure a buyer?
7 votes Thank Flag Link Thu Jul 3, 2014
Bunheral,
I know it can be done, but is it the best thing.

Bear with me as I use my dead fish analogy. You have a dead fish (home that will not sell on the open market) and you want to trade it for another dead fish (home that will not sell on the open market), if you find someone for your dead fish. Likely you will not like theirs.

I know there are on-line sites for trades and that is where I would start. Also it is a good idea to have 2 appraisals on both properties you can agree to split the value in the middle of both appraisals. This will help you from trading to low.
Let me know if you would like to chat.
best of luck
Brad 928-237-4400
Web Reference: http://bradbergamini.com
0 votes Thank Flag Link Thu Feb 17, 2011
Yes, this is possible. I recieve messages from our local Realtor associations of people considering trades. I also think that someone who is desperately trying to sell their home and having no luck will consider almost anything. I am a Realtor in Prescott, I can reach many home sellers. Give me a call if you have further questions.
0 votes Thank Flag Link Thu Feb 17, 2011
I am not a big fan of trades because they limit both buyer & seller options to only those properties that would work, on both sides, for a trade. I recommend that you sell the property that you have at market value and then find just the perfect property to meet your needs. If there are financing issues involved talk to your Realtor. They can get you in touch with lending sources that may be able to make this happen.
Web Reference: http://www.prosperaz.com
0 votes Thank Flag Link Thu Feb 17, 2011
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