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Nesters ExChange Upgrade - 11/30/2008
New Functionality - Lead Marketplace Mortgage Leads There is new type of leads in the Lead M...
 

ExChange Forum

Solving problems or creating a new one?
Last Post 25 Jun 2008 04:28 PM by Mary Ann Peeler. 2 Replies.
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jim
Posts:5
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24 Feb 2008 10:35 PM  

Recently there was a couple in the news who were unable to sell their home.  In order to take a job in another state they did a internet search and found a party in the town and state that they wanted to move to that was willing to do a house swap with them.  What are your thoughts on this?  Please detail why you think it either was a good idea or bad.


Ivan Tchakarov
Posts:41
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25 Feb 2008 06:31 PM  
Jim, it depends on how the transaction took place. If new mortgages were originated then the it is an arms length transaction and it is a good way to sell/buy a home in these tough times. If the swap was by assuming each others mortgages it may create some legal problems down the road.

We are actually considering adding a "Swap" listing type on Nesters.com but I am not very sure how much interest there will be for such a functionality.
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Mary Ann Peeler
Posts:2
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25 Jun 2008 04:28 PM  

Jim:

I read this post about house swapping.  I guess it could be a good thing, but I would hope someone was advising both parties on inspections, contracts, title searches, etc...  It could open up a can of worms for either party, don't you think?  Interesting, though.

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