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Old 04-02-2008, 10:45 AM
AKF AKF started this thread
 
178 posts, read 708,518 times
Reputation: 42

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If ANYONE can give me a referral to any realtors that might deal with House Swapping in the Indy area, I would greatly appreciate it!

Thanks!

Last edited by AKF; 04-02-2008 at 10:57 AM.. Reason: Incorrect Msg.
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Old 04-02-2008, 04:14 PM
 
Location: Houston-ish, TX
1,099 posts, read 3,735,896 times
Reputation: 399
Hm, let me think on that one. Are you talking about a 1031 exchange? I need more info! You can send me a direct message if you'd prefer.
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Old 04-03-2008, 10:44 AM
 
Location: The Fruited Plain
172 posts, read 511,900 times
Reputation: 58
There was a peice on the TV about house swaps. It seems that some want to exchange their home for a different one that has a smaller mortgage. How is that going to happen?
I wonder where they'll find the other party? How are they going to deal with the tax implications? What are the mortgage companies going to say about it?

Sounds like a great way to get out from under a huge mortgage - except for all the details, huh?
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Old 04-03-2008, 04:22 PM
 
Location: Houston-ish, TX
1,099 posts, read 3,735,896 times
Reputation: 399
From what I understand, they trade the homes, then mortgage the rest if there is any leftover amount. If you and I trade houses, but mine is worth $150,000 and yours is worth $200,000, then I would have to mortgage the extra $50,000 to pay you, but you would be mortgage free.

I really don't know a lot about this arrangement though. I prefer to stick to the more usual methods.
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Old 04-03-2008, 04:43 PM
AKF AKF started this thread
 
178 posts, read 708,518 times
Reputation: 42
yeah but desperate times call for unique action(s)!

i am just weighing mine.

thx both!
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Old 04-03-2008, 08:10 PM
 
Location: The Fruited Plain
172 posts, read 511,900 times
Reputation: 58
Quote:
Originally Posted by AKF View Post
yeah but desperate times call for unique action(s)!
?????
Desperate times?
Wow! I'm sorry to hear things are that bad for you!
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Old 04-04-2008, 05:46 AM
 
Location: Houston-ish, TX
1,099 posts, read 3,735,896 times
Reputation: 399
I wish I knew more about it so that I could help you.
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Old 04-04-2008, 09:50 AM
 
Location: The Fruited Plain
172 posts, read 511,900 times
Reputation: 58
I did a very quick search about this subject and while it seems to be 'sweeping the nation', it sounds little more that an assisted 1031 exchange. One web site said,'A home exchange is built on trust, and the mutual respect of each other's property is what makes home exchange possible'.

That sounds fantastic, but when was the last time a buyer and a seller trusted each other about anything?

After hundreds of years of mustrust and adversarial relationships, I find I difficult to believe that buyers and sellers are suddenly lovey-dovey!

This sounds like repackaging of the 1031 exchange product. While it is a good product, it's an income device for tax dererral. Using it to exchange homes is a new twist that I am not familiar with.

I guess I'll do more research!!!
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Old 04-09-2008, 11:22 PM
AKF AKF started this thread
 
178 posts, read 708,518 times
Reputation: 42
Quote:
Originally Posted by TraderJack View Post
I did a very quick search about this subject and while it seems to be 'sweeping the nation', it sounds little more that an assisted 1031 exchange. One web site said,'A home exchange is built on trust, and the mutual respect of each other's property is what makes home exchange possible'.

That sounds fantastic, but when was the last time a buyer and a seller trusted each other about anything?

After hundreds of years of mustrust and adversarial relationships, I find I difficult to believe that buyers and sellers are suddenly lovey-dovey!

This sounds like repackaging of the 1031 exchange product. While it is a good product, it's an income device for tax dererral. Using it to exchange homes is a new twist that I am not familiar with.

I guess I'll do more research!!!

Well Jack,

If you do happen to find out more about it, do tell!

Thx!!
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Old 04-16-2008, 03:30 PM
 
21 posts, read 67,862 times
Reputation: 12
well geez I wouldn't mind doing that. My mortgage is for 151K right now, anyone wanna change? oh yeah, the house is in Stallings, NC in a BEAUTIFUL new community. 3 bedroom, 3 bath, upstairs downstairs, 2 car garage and fenced yard.

:-D
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