Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Anyone ever done a house swap?

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » The DU Lounge Donate to DU
 
Robb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-28-08 08:24 PM
Original message
Anyone ever done a house swap?
Oh, ye gads, the copycat threads this will spawn... :D

Anyhoo. Anyone ever swap their house, permanently? I've began conversations with a guy in another city who wants my house, I think I want his, and they're in the same price range.

Seems like something a lawyer could write up for us on the cheap, eh? :shrug:
Printer Friendly | Permalink |  | Top
Muttocracy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-28-08 08:25 PM
Response to Original message
1. is this like that make me move feature on zillow.com? nt
Printer Friendly | Permalink |  | Top
 
Robb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-28-08 10:22 PM
Response to Reply #1
2. This is done via craigslist
...You basically say, I have a house for $X in my city, want to move to your city into your house, let's swaparoo. :D

As I understand it, you sign the houses over to one another, and take out new mortgages to pay off the old ones.
Printer Friendly | Permalink |  | Top
 
Tuesday Afternoon Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-28-08 10:41 PM
Response to Original message
3. It is the hot thing to do right now --
http://en.wikipedia.org/wiki/House_swapping
House swapping is the increasingly popular activity of two homeowners living at each other's houses for a set period. Homeowner A would live in Home B for a time period, while Homeowner B lives in Home A.

Home swapping during travel and vacations always has been used informally between relatives and friends. In the early 1950s a couple of organizations sprung up to more formalize this process and they still exist today as Homelink.org and Intervac and are amongst the largest home exchange organizations.

Initially the lists of families interested in exchanging were circulated primarily amongst educators but over the years these organizations grew to thousands of members from all walks of life and with printed catalogs including color photos of the homes. With the coming of the Internet the number of organizations increased and arrangements are made more quickly by email rather than postal mail.

It is usually used as low cost vacation accommodation and is a private arrangement between the two parties. The arrangement has several benefits - neither has to pay for lodging, the home itself is usually more comfortable than a hotel, and plants/pets may be cared for for free. House swapping is most popular with in-town residents planning to vacation in another major city. There are many organizations online that facilitate such swaps for free or a fee.

and more:
http://www.cbsnews.com/stories/2007/07/01/business/real...
AP) A tough real estate market that has seen homes languish with for-sale signs in their yards has pushed some Michigan homeowners to try to swap their residences.

Home swaps more typically are used by vacationers, who arrange to temporarily exchange homes. But owners looking for bigger or even smaller homes are trying to set up permanent swaps, The Detroit News reported Saturday.

Rob and Kelli Clifton want to swap their three-bedroom ranch on Lake Louise in Ortonville, about 37 miles northwest of Detroit, for a larger home near good schools. The home offers with 55 feet of private shoreline, a big backyard and a new kitchen.

"It's not like we haven't tried our best to sell this house," said Kelli Clifton, whose home also remains for sale on the traditional market. "We've offered everything, dropped the price. If this does the trick, that's fine by us."

and more:
http://www.google.com/search?sourceid=navclient&aq=t&ie...
Printer Friendly | Permalink |  | Top
 
Lex Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-28-08 11:15 PM
Response to Original message
4. Do you swap mortgages, assume his, get a new mortgage?
Edited on Thu Feb-28-08 11:21 PM by Lex
If you pay his, and he pays yours, what if he defaults on yours (if the mortgage is still in your name)?

Sounds like 2 regular closings is the best bet.





Printer Friendly | Permalink |  | Top
 
flvegan Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-28-08 11:19 PM
Response to Original message
5. Invest in a title search.
Both of you.
Printer Friendly | Permalink |  | Top
 
Whoa_Nelly Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-28-08 11:21 PM
Response to Original message
6. About the same price
but what condition?

Would swapping be contingent upon a building inspection?

Just wondering.... :shrug:
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Mon Oct 20th 2014, 06:20 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » The DU Lounge Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC