Q:

Can you trade your house?

A:

Quick Answer

Individuals can trade in a house in a similar way to what they would do with a car, provided they can find an interested buyer with a similar mortgage. Trading a house is a popular option for those who tried to sell a property unsuccessfully, states the Christian Science Monitor.

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Full Answer

Trading houses has become a more common phenomenon on the real estate market after 2006, when the sluggish market made it difficult for many to sell. The simultaneous sale approach is the most common way to trade houses. This means that the selling and buying transactions happen simultaneously, which allows proceeds from the sale of one home to go to the purchase of the other one, states Forbes.

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