House swap/sale

NEM1SES

Hi,

I was wondering what the cheapest way to swap houses with a relative.

We are looking to swap , but I imagine we would have to sell to each other.

But do we need an estate agent or what?

Thrugelmir

No need for an estate agent.

Though you would need to go through the formalities of buying and selling property.

NEM1SES

So a fanancial advisor?

Get a free valuation, energy efficiency certificate?

NEM1SES

Any one any ideas what I would need to do?

jaybeetoo

Do either of you need a mortgage?

NEM1SES

Yes. Both currently have and would need a mortgage

Guest101

Then go get a mortgage and a solicitor. That's step one and two

Yorkie1

Have you decided on prices for the two properties? As you need mortgages, then you need to ensure that the property values are not over-high or the lender will down-value them at the valuation.

Then seek mortgages and appoint solicitors (different firm for each side of the transactions).

NEM1SES

So we couldn't use same solicitor. ?

We haven't decided prices, both properties would be around sane price and both have positive equity.

G_M

1) why would you need an estate agent? You've already found a property to buy!
2) you can't use the same solicitor - conflict of interest. But you could do the conveyancing ourselves (if you feel up to it) though if mortgages are involved you'll still need topay for the lender's solicitor.
3) Mortgage? Find in the usual way - shop around and get the best deal
4) Price? If you're unsure of the respective values of the properties, you could invite estate agents round to give you valuations (and then not use the agents) or pay a surveyor, or compare sold prices locally yourself

NEM1SES

Ok. Thank's for the replys

So get them valued.
Apply for mortgage and the solicitor the mortgage provider chooses will sort everything?