Property Q&A in Apple Valley>Question Details

Berta Ramirez, Renter in Orlando, FL

how about a house swap with the bank? I give them my 200,000 house in MN for a 120,000 in FL? will it work?

Asked by Berta Ramirez, Orlando, FL Sat Dec 25, 2010

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Answers

3
Hi Berta - As the others have said, it is highly unlikely that this would work.

Your more likely option would be to sell your Minnesota home and then purchase in Florida. That said, there may be alternatives like renting your home in Minnesota or some other lender mitigation option. To explore all of your options feel free to contact me as I know Apple Valley extremely well.

Bill Wallace
RE/MAX Results - Apple Valley
651-338-0355
0 votes Thank Flag Link Sun Dec 26, 2010
It is highly unlikely that a bank would ever do this - their systems are not set up for anything like that and with today's market they have to follow a strict set of company policies.
Web Reference: http://www.aaronsold.com
0 votes Thank Flag Link Sat Dec 25, 2010
If it did please let me know because I would be aboslutely shocked. Banks arent in the business of Real Estate so they would not be trying to aquire property more than they would absolutely have to. This swap could work with a potential seller in Florida though.
Web Reference: http://www.lennyfrolov.com
0 votes Thank Flag Link Sat Dec 25, 2010
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