Any Builders in Area willing to take a trade in? (Dallas: sales, real estate)

[Robin2007]

We are currently living in NC and really want to get to the DFW Area before school starts. We have not been able to sell our house...we have had many offers but it seems once we get almost set to close the deal it falls through. Anyway, wondering if anyone knows any builders in the area who would be willing to do a Trade In? We are looking to upgrade to a much more expensive house so it could work out well for both parties.

I know it is a long shot but I do know many builders are starting to use this option and have started seeing more stories of this happening around the country so I thought I'd give it a shot here.

Thanks for reading!

[itellyouthetruth]

Try Robbie Hale Homes

[Robin2007]

Thanks...I'll check it out!!

[loves2read]

some builders around DFW are taking trades in the local area but frankly most people have to have quite a bit of equity in the house to see a profit there because there is a knockdown of value to cover the costs the builder needs to cover in holding/marketing the trade-in...
they don't want to lose money on it just to get out from under a spec house that is also costing them money--

it does not seem very logical that builders are going to want to take a trade in an out of state market where they would be unable to 1) use their own crews for fixup, 2) have local appraisers/RE agents they have worked with to give them accurate input on home's value and resale,
they would also basically become landlord for rental property if it can't sell and that would mean hiring property mgmt firm there and other expenses...

[Robin2007]

I am looking in the higher end price range... Our house is 4 years (new) listed right now for 650K...we are looking to upgrade to a larger new construction home in the North Dallas area (interested in the 800-1.2 M range). I have read a few stories of builders doing so to decrease costs...thought it wouldn't hurt to try!!

Thanks for any input!

[loves2read]

some builders do and I think the ones in your price range are hurting more than lower priced builders

talked to my RE person yesterday--she does relo mainly for Coldwell Banker office in Colleyville/Tarrant county--and her clients are usually looking for 600K+ homes--
she said she has plenty of people coming in who what to buy here but they can't sell their current homes out of state--so her sales are really languishing and so are some of the builders she represents...
her clients are in the situation that you are in exactly...

[Robin2007]

Originally Posted by loves2read

some builders do and I think the ones in your price range are hurting more than lower priced builders

talked to my RE person yesterday--she does relo mainly for Coldwell Banker office in Colleyville/Tarrant county--and her clients are usually looking for 600K+ homes--
she said she has plenty of people coming in who what to buy here but they can't sell their current homes out of state--so her sales are really languishing and so are some of the builders she represents...
her clients are in the situation that you are in exactly...

It is so frustrating. We have had soooooo many showings...but same situation here in NC.

[nsumner]

There are very very few builders in DFW that will consider a trade in. Those that do will consider homes within the local market only and rarely in other markets if there is a division in their company that builds there.

Naima

[Rakin]

I would assume your home is paid for since any mortgage company would not let you transfer title without paying off the loan. The cost of a builder borrowing money, closing costs and the risk factor does not sound like a good investment idea for a builder.

Unless you're willing to sell cheap & buy high.

[Robin2007]

Originally Posted by Rakin

I would assume your home is paid for since any mortgage company would not let you transfer title without paying off the loan. The cost of a builder borrowing money, closing costs and the risk factor does not sound like a good investment idea for a builder.

Unless you're willing to sell cheap & buy high.

A Builder trade in is a process when a builder buys your lower priced home and in turn you buy one of their homes at a higher price...so you have two closings both usually scheduled at the same time. The benefit to the builder is that they can sell a higher priced home at usually list price and than they usually can have more flexibility in selling the other home maybe at even a much lower price. It is becoming a big trend is somem areas where Real Estate is hard to move right now.