is there anyway that i can trade my house now for a house of the same price range?

Asked by Mamacat123, Logansport, IN Mon Apr 18, 2011

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Michael E. L…, , Cass County, IN
Sat Feb 2, 2013
Yes you can trade homes. If you can find a SUITABLE home to trade for. They are called 1031 exchanges by the IRS and they DEFERR capital gains taxes. Seldom are properties perfectly equal in value so BOOT or money is used to make the exchange equal. To make an exchange work the properties must be of a LIKE KIND meaning a home for a home. Not a home for a business. I would be far short of giving you proper advice it I didn't say SEE YOUR ATTORNEY & CONSULT WITH A CPA before doing one. Search "1031 exchange" on the net to find more information. Good luck.
0 votes
Michael Cheng, Agent, San Jose, CA
Sat Feb 2, 2013
Sure, if you can find somebody willing to trade with you, there's no problem with the approach. Real estate investors do this all the time.
Web Reference:  http://www.archershomes.com
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Logansport Zip Codes

Email me when…

Learn more