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Need some AR help.....swapping and trading??? What?

By
Real Estate Agent with Exit Realty Tri-County

Active Rain has been almost a daily ritual of mine.  I have found so much information just from reading members' posts and comments.  I am once again looking for some insight.  Obviously, with the real estate market the way it has been lately, it seems that consumers are open to almost anything when the showings and selling isn't happening as quickly as they would like.

A good friend of mine who knows the ins and outs of real estate and has developed internationally just mentioned the other day the concept of swapping and/ or trading.  Now, I have heard of this but not at all clear as to how you would go about setting it up and the rules.  My friend is moving from Spain to Florida and he has already purchased a house here.  He also has a luxury penthouse in Costa Rica that he has been trying to sell with no luck.  It is a magnificent location with gorgeous views priced at 1.5 million.  My friend, now, just wanting to unload the property, is asking about trading or swapping with someone who owns a home in the states.

I don't even know where to begin.  I have tried to do a little research online, but, seem to come up with sites that are more directed at vacationers, etc.   Also, with a trade or swap deal between here and Costa Rica....how would you handle Title, Inspections, etc.?  I am assuming laws and rules are different.

Any advice would be greatly appreciated.    Thanks.

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Comments (5)

Diane Daley
Caron's Gateway Real Estate - Northumberland, NH

sorry I'm no help, I have heard of the swapping and have never been involved in one...  Good luck if it takes place please post about how it went...

Feb 25, 2009 06:26 AM
Tina Allen
Exit Realty Tri-County - Mount Dora, FL

I definately will Caron...thanks for reading.  I am sure there are many that know all of the ins and outs of this.

Feb 25, 2009 06:28 AM
Brian Opperud
Hot Realty Leads - Phoenix, AZ

It seems to me that it would be pretty straight forward if the properties were owned outright.  But if there is financing involved it would be pretty tough.....JMO

Feb 25, 2009 06:34 AM
Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

You've got me on this one.  I've only ever heard about it as far as vacationing as well.  As in the movie "The Holiday."  Sorry I'm no help here!

Kathy

Feb 25, 2009 06:55 AM
Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Tina --- I have done this, but not in another country.  Typically, you would find a agent in the towns to work with you.

Mama Liz's Signature

Feb 25, 2009 07:34 AM