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is it possible to trade in my house like a car
Sent to Legal Experts October 11 05:37 PM

i would like to buy a new house .I donot want to sell my existing house . i want to trade it in like a car.Is this possible?

 

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garfield hts, Ohio

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October 11 5:40 PM (3 minutes and 21 seconds later)
         
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October 11 10:49 PM (5 hours and 8 minutes and 43 seconds later)
         
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Hi! As a Realtor I have to disagree. In my 21 years of doing real estate I have never seen a house traded only auctioned. If you are trading your house to avoid transfer tax or real estate commission, I understand. BUT no house can be sold or traded unless the mortgage is satisfied and the bank has turned over the deed and title. Second, no one will take your house in exchange for another. This does not happen. You will still have to do a title search, survey and transfer tax to meet the States requirements. Real Estate law is more complicated than you know. A home inspection may find an underground tank, termites or any thing else that reduces the value of your house. A mortgage company will do a inspection and determine the value of your house. You have no say so after that if you want to transfer title. If you have any questions, please ask, I will do my best to help you.

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Marie -- Realtor -- 100% Positive Feedback on 173 Legal Accepts
Real Estate Law/Broker Owner/Morgage/Title Co./Builders LLC
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