In the Realestate market of today, trading comes as an idea on how to get where you need to go... does anyone?

Question

know where one would get info about people offering to do such a trade if all circumstances were agreeable? I am on 40 acres of wonderful land that am asking 468K for and no one can get a loan for it but cant move unless I can get house in location I need. Trading with someone who wants away from city and such, may be just our ticket.. but don't know where to go to find "prospects".. any input greatly appreciated but please no commentary for the heck of it lol... thanks

PS I am in NE WA state in case you are wondering about that.

Answer 1

I would enlist the services of a real estate agent. If you were in the MLS, buyer’s agents could find you and buyers could find you on thousands of websites. Your listing could clearly state that you are interested in a trade, though I wouldn’t completely rule out financing.

Why can’t anyone get a loan for it? Is it that they’re no buyers have been qualified or has a lender said your land isn’t worth that much? Otherwise, someone should be able to finance it.

Answer 2

here is the problem with trading.  Unless both properties DO NOT have a mortgage, then trading will not work.  Each property would need to get a NEW mortgage for the purchase since banks will not allow assignments of loans.

Yes,  both of  you could promise to pay the other person's mortgage.  BUT!!! I would never do this since if they didn't pay, you would be screwed.