How to Do a Permanent House Swap

House swapping, where two families agree to exchange homes, is not a new concept. Typically it is done by vacationing families for a short period of time. However, in recent times we have also seen the growth of permanent house swaps. When the real estate market is weak and homeowners are unable to sell their house, they might decide to turn to a permanent house swap.

Difficulty:

Moderate

Instructions

1. List your house for a permanent swap on Internet sites that exist for this purpose. There are several online sites for house swapping. There is also a category on Craig's List for temporary and permanent house swaps.

2. Be wary. If you get a response to a listing that sounds like it might be a good match for a house swap, ask to see pictures and then go see the property in person. Be sure to go during the day and you take someone else with you.

3. Consider using a real estate agent. Although you do not have to use an agent for a house swap, you might want to. Call Real Estate offices in your area and ask them if they assist in house swaps. They might be able to find the swap match for you as well as assist in the paperwork that will need to be done.

4. Hire an attorney. The attorney should be involved from the beginning and can handle the legal aspects of the house swap such as title work and closings.

5. Take the usual precautions. If you decide you are interested in the house, hire inspectors to perform all of the same inspections that you would have done if you were buying the house. Just because you are swapping instead of buying and selling, you are still purchasing the home and want to know of any hidden problems.