subject: The House Swap Phenomenon [print this page] Most people who have been caught in a waiting game, trying to sell their home so that they can buy another one, are fit to be tied. Some may have the luxury of not being pressed into moving. Others have urgent needs to sell their home. They have a job waiting for them in another city, or they need to move closer to their family. Still others may find that the neighborhood they live in no longer suits them. And all of these people have been waiting for a housing market that has been floundering to find its feet again.
That is why so many of these people have turned to the house swap. They have discovered the buyer they were looking for, and all they had to do was find that one other person who was in the same situation as they were. So instead of waiting for an escrow that falls through, or a prospective buyer who just changes their mind at the last minute, they only have to meet the other party, find a reputable broker to set up the process, and wait for escrow to close.
Of course, this is the way it used to work back in the good old days, before the housing bubble blew up. A buyer would make an offer, terms would be agreed on, financing would be set up, and the closing date would be set. But the way things are today in the housing market dictates a fresh approach. If financing is so prone to being bogged down, then another form of asset has to take its place. Its so simple. The buyers own home is the financial basis of the deal, as is the home of the seller. There is no need to arrange financing for the buyer. Their home is the asset, and its as real as it gets.
A house swap is the rainbow after the storm that so many have been waiting for. And the good news is that there is a tried and true way to find the qualified parties that are interested in entering a house swap transaction. Thankfully, there are now more and more websites that are becoming the meeting place of buyers and sellers. These sites are more than an electronic bulletin board, however. They are that, but they are also a service entity that can help in the verification process. This is how they find qualified buyers and sellers. Once a homes value has been established, its simply a matter of hooking up one party with the other.
So now, finding a qualified buyer or seller is almost as easy as social networking. A homeowner can have their home posted on a reputable site, and let the mechanics of the site do the matching up with the buyer/seller they are looking for. In many cases, a home swap will be an equal trade. But even when a difference in home values exists, it can be a simple matter to work out. A cash sum can be included to make up the difference, or a mortgage can be can be taken out to even out the terms of the deal.
by: Pan I
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