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Property Swap
Mazzawa
Posts: 173 Forumite
As it says in the title, have you ever heard of this going on? We, after a throwaway post I made about buying a wreck, are now looking for our next house to need renovated. From what I've seen, the vast majority of properties up this way that need serious renovation tend to be inheritance properties and was wondering if anyone has ever heard of a property swap in this situation? Our apartment would make a lean mean rental machine so would be a great long term investment for someone so was hoping to offer a swap with a property of the same value. No idea if this goes on, or if it does what the pitfalls are - any advice would be great, or even how to go about this in the first place!
I'm afraid I really need a coffee so perhaps none of that made sense!!
I'm afraid I really need a coffee so perhaps none of that made sense!!
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Comments
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I can't see a collection of relatives, dealing with the will/probate etc, wanting to take on your property, when they have inherited their relative's place...
The odds of finding such a combination are low. Asking doesn't hurt, but I wouldn't base your plans on it.
How about selling, to an investor-type, get into rental yourself and be ready to jump (excuse the phrase) on the next inherited wreck..?
You'll need somewhere to live while doing up the wreck.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
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