Can It Work For Me
A simple test to determine if you are a candidate for a house swap is the following: "If you sold your property today, would you be able to go out and purchase that other property tomorrow? If the answer is no, you either need to look at a less expensive property to swap with, or you're not a candidate"DomuswapGoswap.
Since this type of house swapping is in actuality a simultaneous buy and sell, you will need to walk away from the sale part with enough funds to complete the buy portion. The stumbling block here is often the necessary down payment (20% is standard). You therefore need to have at least 20% equity, minus closing costs, to purchase the other property.
Read more about this topic: Real Estate Trading
Famous quotes containing the word work:
“Many people mistake our work for our vocation. Our vocation is the love of Jesus.”
—Mother Teresa (b. 1910)