Does anyone know of house swaps between towns working? With a crazy house market and job oppourtunities being presented elsewhere i was wondering if its worth advertising a house ownership swap rather then fighting with the market of buying and selling. Obviously houses of similar value or payment made to the difference. Does anyone know of advantages or disadvantages to this and if banks would even allow an easy transfer of ownership?

peppastar - 2021-03-16 20:51:00

peppastar wrote:

Does anyone know of house swaps between towns working? With a crazy house market and job oppourtunities being presented elsewhere i was wondering if its worth advertising a house ownership swap rather then fighting with the market of buying and selling. Obviously houses of similar value or payment made to the difference. Does anyone know of advantages or disadvantages to this and if banks would even allow an easy transfer of ownership?

Banks don't transfer ownership. If you have a mortgage, it will have to be discharged and a new mortgage taken over your new property. So long as the property offers reasonable security it should not be a major obstacle.

johnston - 2021-03-16 21:06:00

peppastar wrote:

Does anyone know of house swaps between towns working? With a crazy house market and job oppourtunities being presented elsewhere i was wondering if its worth advertising a house ownership swap rather then fighting with the market of buying and selling. Obviously houses of similar value or payment made to the difference. Does anyone know of advantages or disadvantages to this and if banks would even allow an easy transfer of ownership?

you mean buy and sell privately by swapping properties with a cash adjustment. I've done that recently myself as have others I know, if thats what you mean.

gabbysnana - 2021-03-17 09:26:00

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kittycatkin - 2021-03-17 12:29:00

This message was deleted.

kittycatkin - 2021-03-17 12:30:00

kittycatkin wrote:

Someone I know did this; she wanted a smaller, low maintenance house and went to see one. By chance, she found that the sellers wanted a house like her existing one, so they did a swap. Some money changed hands, but I can't remember in which direction; it wasn't much.

we did this during covid of all times worked out well, we upsized with cash adjustment and she downsized. Good result all round.

gabbysnana - 2021-03-17 12:31:00

kittycatkin wrote:

Could you buy each other's houses for a token payment just to make it legal ?

That could be seen as a sham. Simply transfer at the agreed prices with contemporaneous settlements.

Edited by johnston at 12:51 pm, Wed 17 Mar

johnston - 2021-03-17 12:50:00

kittycatkin wrote:

Could you buy each other's houses for a token payment just to make it legal ?

That would do wonders for the median house prices.

tony9 - 2021-03-17 13:51:00

Of course this all relies on finding someone who wants to move to your town who wants your property and you wanting theirs.

In reality far simpler to just sell and buy what you want.

sparkychap - 2021-03-17 15:16:00

I know someone who did a house swap between two different towns. I think they'd gone to look at a property and then discovered that the sellers wanted to move here. Some money changed hands but I don't know in which direction.

scarlettnz - 2021-03-17 15:33:00