Expert, localized Los Angeles answers provided by Heather Roy

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Trading Houses

  I recently viewed a home where the seller said they would entertain a trade. Basically trading our home for theirs. How does this work?
 
 

It's pretty much a matter of selling your houses to each other.  But remember -- if there are any mortgages presently on the properties, they'll have to be paid off.
I'd suggest talking with two different real estate lawyers, one acting for each of you, and getting advice on how to proceed from them.  Or you may want to hire a real estate broker, perhaps by the hour, to help negotiate the agreements between you.

    Edith
Originally published on January 30, 2008
 
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