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House swap/exchange

2 replies

Jackdanielsg1 · 06/06/2023 12:17

Hi all, I'm hoping to get some advice.

We saw a lovely house that would be big enough for our family and widowed MIL on at £600k. Its quite an usual one for the area and has been on for months but would totally work for us.

We told the estate we really liked it and it's taken a few weeks to get ourselves ready to go on the market. We have gone with the same estate agent and should be going in the market this week at £415k.

When I went to the estate agent to drop off some completed forms today she said that the seller of the house we want was asking about our house (she didnt give him the address) but that he may want to do a swap/exchange and buy our house.

Now hes not even seen it yet, so nothing might come of it...but if did what would happen? She caught me off guard and I had no clue what to say. Has anyone done this before and can advise pros and cons. Their house is top of our budget and we were hoping to offer a bit less so we can redo the kitchen- would you still be able to in these circumstances? Thanks

OP posts:
Karmatime · 06/06/2023 12:24

I think you need to separate the ‘house swap’ from negotiating the price on the property you want to buy. If you can agree a purchase price with them and then agree a price for the sale of yours then in some ways this could speed up the process as it takes a link out of the chain. However there wouldn’t necessarily be any financial savings for either party so don’t let the fact that they may want to buy yours influence what you are prepared to pay for theirs.

Jackdanielsg1 · 06/06/2023 17:16

Thank you @Karmatime that's a really good way of looking at it.

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