House swapping benefits and drawbacks

Last update: September 26, 2008 - 2:29 PM

Benefits:You'll have a buyer for your house in hand before you purchase another one. And if you find a buyer without a real estate agent, you can avoid a sales commission.

Drawbacks: Finding a match offering exactly what you are looking for can be a long shot. You do the work of scouring listings, posting your home on websites and e-mailing potential buyers and conducting showings.

Tips: Both parties should be pre-approved for a mortgage.

• Follow all the conventional steps of buying and selling a home including full disclosure, property appraisals and inspections.

• Hire a real estate agent or attorney to guide you through the sale process.

Recent Homes stories

Ramblin' roses: Cities are sprucing up midcentury homes - September 26, 2008

Ramblin' roses: Cities are sprucing up midcentury homes - Coon Rapids and other aging suburbs are promoting upgrades to classic ramblers, Cape Cods and split-levels to try to keep buyers interested. More