Home Selling in Joliet>Question Details

Norma, Home Owner in Magalia, CA

my home is payed for and I would like to trade for equel value is that posabale?

Asked by Norma, Magalia, CA Mon Aug 22, 2011

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Norma, what you are referring to is called an EXCHANGE. you would have to find someone who is willing to trade you for your house. Many exchanges are 2, 3, or 4 levels deep and VERY COMPLEX. It is not a casual encounter for even a seasoned real estate agent. There are exchange clubs that may have experienced professionals in your area. Also as an escrow company executive who does these types of deals in Magalia CA.

Also consult your tax professional. You can also do what is called a TAX DEFERRED EXCHANGE whereby you sell your home and then put the money in escrow until you find another home.
0 votes Thank Flag Link Tue Mar 26, 2013
Norma,
Depends on what you have and where you want to be, not to mention what price you are in. If you need assistance from this point, please let me know. I have 21 years experience.
0 votes Thank Flag Link Tue Aug 23, 2011
Theoretically yes, but obviously, the trick is that you have to find someone in a similar situation where you want to move who wants to move where you currently live.
0 votes Thank Flag Link Mon Aug 22, 2011
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