"Trade Plan Available" means the seller might be interested in buying your home, if you will buy their home. Sometimes, the listing broker may buy your home instead of the seller; or the broker may be representing a builder who would be interested in buying your home if you bought one of their homes.
Although the term "trade plan" is used, it's not actually a trade. You buy their house and they buy yours - 2 closings, 2 settlement statements. As you might expect, the seller who is taking your home in on "trade" will want to buy it at a discounted rate. They will most likely resale your house, so they need a cushion to cover carrying costs until it sells. KY Real Estate License Law requires that any time a "trade plan" is advertised, the real estate licensee must disclose the conditions that would apply to a trade and the terms.
If you are considering a trade, don't make the mistake I have seen some buyers make - unnecessarily giving their equity away! Some buyers get caught up in "wanting it now" and will negotiate a trade when they haven't even tried to sell their home! If you have been unsuccessfully trying to sell your home for over 90 days, a trade may be a good option for you. Another time you might want to consider a trade is if your home needs updating or repairs (that you don't want to deal with). Otherwise, I recommend that most sellers put their home on the market and try to sell it before deciding a trade is right for them.
If you are interested in Owensboro, KY real estate or homes for sale, consider me your #1 source! Call or text me today for a no obligation consultation. 270-903-2167
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