Housing swap? (Charlotte: sale, real estate, condo)

[SueLagoo]

I'm curious if anyone has heard of people successfully swapping real estate here.

I posted a while ago about our Dilworth condo that is not selling. We were thinking that maybe a swap would be a better road to take, if, of course, we could find someone with a suitable property who is willing.

Info and insight is appreciated, thanks!

[yantosh22]

I don't remember your specific situation, but I do remember your post. There is only one thing that will make real estate sell, and that is to drop the price to what the market will bear. Note that in this day and time this often isn't what you paid if you bought in the last 5-6 years. (maybe more)

I would consider a real estate swap to be nothing more than a sale where you agree to take over property that someone else doesn't want in return for yours. Sure, if you can find such a deal then go for it, but if you can't find someone who is paying $s then I don't see where this would be easier. This might have worked better in the days of loan assumptions, but the banks successfully lobbied to get the law changed where they are not allowed now.

[chicagocubs]

I think that is called a 1045 exchange (tax-wise). A real estate atty might have listings of people that are interested in such things. (the numbers may be wrong, but, this really does exist)

[Sylbeth]

Would you want to swap a condo....for a condo? Would you want to move to a certain part of the country....or still be in the Charlotte area? Those would seem to be the first things that I would think about. If you still want to be in the Charlotte area.....what part would you prefer...or would you be willing to go to another county? Answering those questions might help another homeowner who could be thinking of doing the same thing...thus it might broaden your prospects.

[Sylbeth]

Sorry Sue.....Didn't remember the word..."here"!! Maybe there are homeowners out there that have a home that they would want to swap....since you have a condo....you might find some "Empty Nesters"...that want to get out of something that is just too big for them. What is it that you want to end up with...besides a "swap"?