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trade home in Arizona for equal valued home in STX
A house is not a car. So basically you would be selling and buying a house with this trade idea of yours. You would be better off just selling it, then trying to find someone in the vi who is going to want your particular house out of all the other houses in your area. The odds are good if you live somewhere like phonenix there are alot of choices to chose from whereas here there are usually only a couple hundred houses on the market at best.
Thanks for that input.... I am very well aware.....
Sometimes things in life are very strange. And stranger things have been known to have happened. Everything happens for a reason my friend. And so I will also add, that, I am very serious about this deal. I have someone ready with details of worth and how much still owed - - etc... there is that person who is as serious about this as I am........ So , what are you waiting for? e-mail me. firstname.lastname@example.org
( If I were to sell my house here tomorrow, I would not let it go for less than 285,000 ) If that person would be interested in buying it instead...... I'm open to that as well I guess.
I'll give this a shot.
KJ: The odds of finding someone in STX who owns a house that you want, and who wants to own your house, are about zero. There is no advantage in doing a trade. Your closing costs will not be lower. Markets exist for a reason. Use them. You'll have flexibility in picking the price, the date, and the buyer. On STX, you'll have similar flexibility. Why constrain yourself?
I doubt this is common in the VI. But this is a reasonable request coming from someone in Phoenix. House trades are fairly common in and between larger cities where RE is/was booming. Mostly for speculation. (There's a tax break in there somewhere. But I never really cared to get into the mechanics of it. ) So I believe the request is on the up and up. Just don't know why anyone would want to leave STX for Phoenix.
Okay, this is probably a REALLY dumb question, but here goes:
How can you trade a house that you don't own outright? Wouldn't the bank need to have some say in this matter? And would they allow it?
If money is owed on the house, I don't see any other choice but to sell it, but maybe I am missing something here.