Townhouses and trading houses

Trade you my Eagan Home for your Lakeville Townhome, and a cookie?

Recently a client called to ask about trading homes.  He and his darling young family are in an Apple Valley Townhome and someone they know is in a large Single Family Home South of Lakeville.  They would like to trade, but each property has a Mortgage on it.  Trading Homes sounds like a good idea and it is, the challenge comes with how to get the current mortgages closed out while simultaneously taking out New Mortgages.

Townhouses and trading houses

Trading Houses sounds like it would be easy, however there are several hurdles

It’s not impossible to do, however there needs to be either one home owned free and clear, or some temporary cash in the mix to pay off one of the homes. Otherwise we find ourselves in a classic push-pull type of “hand off” between the mortgage companies. We discussed other ways for him to move from his Apple Valley townhome and even talked about the idea of ‘rental swapping’ the homes.  They could trade homes for a few years until the market gets better and allows them to sell to each other. If you have a creative idea, or wish to discuss something like this, just give me a call or send an email, I’d love to hear it.

Read what Sheryl’s clients say about working with Sheryl and the Selling South of the River Team!

Click here to Search for all homes listed in Apple Valley!

Click here to contact Sheryl if you would like her to “Sell my Apple Valley Home!”

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Sheryl Petrashek
[email protected]

Sheryl Petrashek is a Realtor with Re/max Results. She is based in Apple Valley and Sells Real Estate in Apple Valley, Burnsville, Eagan, Lakeville, Farmington, Prior Lake, Savage and Rosemount MN.



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