Kerry, Other/Just Looking in 77449

Can we trade in our house for a new one? Like you would a car.

Asked by Kerry, 77449 Thu Feb 25, 2010

We have lived in out house for over ten years and would like to have a new home but the idea of sellilng anything seems way to stressfull for us but we would be willing to trade it in for a new one.

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11
The Franklin…, Agent, Katy, TX
Fri Mar 4, 2011
Jimmy Franklin / RE/Max Grand offers a Home Buyout Program. Take a look at his website listed below.

Charlene Bolduc
The Jimmy Franklin Team
Web Reference:  http://www.hbprogram.com
1 vote
Bruce Lynn, Agent, Coppell, TX
Sun Feb 28, 2010
There are many builders who offer this program. Not sure it is the best deal in the world, but as you state, it can be less stressful. Just remember you are paying them to take on your stress and there can be a high cost for that.
Web Reference:  http://www.teamlynn.com
1 vote
Ronda Allen, Agent, Plano, TX
Thu Feb 25, 2010
Do you have an assumable mortgage? Is it at a lower rate than a buyer can get today (probably not - interest rates are still pretty low, unless you bought your rate down when you purchased)? If your current mortgage cannot be assumed, and isn't more attractive than a new mortgage, then finding someone to take it on isn't likely.

I'm curious what the stressful part is for you? Some people do need to move out of their home in order for us to sell it. But, most often, the times I've run into that have been because someone was chronically ill and unable to keep the house staged and show-ready. If you need to stay with friends or relatives until it sells, you would not be alone. Lots of people do that. Move out, put your things in storage, and put the home on the market while you live somewhere else. But, be sure you price the home to sell, as you can wear out your welcome if the home takes a while to sell.

There are still home builders willing to take contingent offers. That means they'll accept your contract for a new home to be built, while you are selling your current home. It's not a trade, but it's a way to trade-up, knowing it will take 5-6 months to build the new home, during which the current home can be listed and sold.
1 vote
John Juarez, Agent, Fremont, CA
Thu Feb 25, 2010
Kerry,

Even if what you have asked is possible I don’t think is economically the best path. You will come out best, financially, if you contact a local Realtor to sell your house and help you to negotiate the purchase of a new house.

I understand your reluctance to go through the hassle of selling and buying but don’t throw money away just to make it appear that you are saving wear and tear on your nerves. Tell your agent that high on your list of criteria for a successful relationship is that the transactions be as low-stress as possible.
1 vote
Not an agent, , Colorado Springs, CO
Thu Feb 25, 2010
Some home builders here locally USED to have a guarantee program that would promise to buy your home for you if you couldn't sell yours in time to close on the new home. The problem with that program is that it cost the agent a portion of their commission AND the buyer a portion of the proceeds on the sale of their home. However, I haven't seen that program around for a few years now!

Now, for you to actually just trade your home with someone else for their home, you have to: 1) find the swap"ee" on your own because there aren't any "real estate dealerships" out there that I know of... 2) find the buyer who has a home that you actually want to move into... AND 3) both mortgages need to be paid off. The chances of finding the right candidate are really slim and it could potentially take a very long time, costing you quite a bit of money in advertising. Then you will need to hire a real estate attorney to handle all the paperwork. Just the sound of having to find a buyer on my own that will want my exact house and actually own a home that is perfect for me PLUS have both of us completely mortgage free sounds more stressful than simply putting my house up for sale and go house shopping! Good luck to you!
1 vote
Dallas Texas, Agent, Dallas, TN
Thu Feb 25, 2010
Trade a home becomes very confusing MANY you would need have family qualify for a home loan and you qualify home loan.

Not many people swap homes OR trade in a home UNLESS it is manufactured home.

Real Estate is not as if you purchase an item wanted to return to a retail store.

HOWEVER if you find right builder which are few and far between might consider a trade however you would need to qualify for a loan, they would need purchase your home.

Good luck with all this

Great question

Lynn911
Web Reference:  http://www.lynn911.com
1 vote
Christi Bord…, Agent, Katy, TX
Thu Feb 25, 2010
Not sure how that would work for you. To be able to find your buyer who has the perfect house for you and will ing swap could happen but not very likely. Plus, if you are not selling or listing your home, how will you find your buyer? There are builders who offer incentives but I am not aware of any willing to take on a home as a swap. I hope you can accomplish what you are seeking but in our market, usually the best approach is to ready your home for the marketplace, hire a great Realtor to represent you, start looking for a new home that fits your needs and then make your offer on the new home once you secure a buyer for yours. Yes, it can be stressful but having a true professional help you though the process will help ease that stress to some degree. I wish you well ... Hope you end up in Katy TX as it is a great place to live.
Web Reference:  http://www.ChristiBorden.com
1 vote
Shayne Stone, Agent, Sugar Land, TX
Thu Feb 25, 2010
It's not really the same like trading your vehicle...

When dealing with a vehicle - your trading it in to dealership which in turn can resell it and sells you a new one.

In real estate there is no dealerships, there are Brokers, Lenders, Buyers, Sellers and Agents. No one Broker carries an inventory of houses for sale, there are all given the right / premission to sell properties (listings) given by the owner of record.
1 vote
Mack McCoy, Agent, Seattle, WA
Thu Feb 25, 2010
Realistically, no. In the quantum real estate world, yeah, sure, it's possible. But in the Newtonian world of real estate, probably not.
1 vote
Bruce Ericks…, Agent, Irving, TX
Thu Feb 25, 2010
Some builders are willing to help with the selling of your home when you go under contract to buy a new one from them. I have even heard that some builders are willing to purchase your current home.

But be sure you fully understand the value of their service or buyout vs you selling it by your self. They are in the business to make a profit .. so anything they offer probably has a cost built into it.

Suggest you find a Realtor to help you do the research and negotiations to get the best deal for you.

Good Luck .. Bruce
1 vote
Elizabeth He…, Agent, Agawam, MA
Thu Feb 25, 2010
If you could find somebody willing to do a "for sale or trade" deal with you it's possible provided that you could satisfy any outstanding mortgage and/or financial obligations upon closing.
1 vote
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