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Is residential swapping; a owner-occupied for a foreclosed property a realistic option?

I am wondering if it is possible to swap my property with a foreclosed property.  The x-factor is that my property is an estimated $100,000 more then the listing of the foreclosed property.  Is there any possible way to work a cash-out clause in the purchase agreement?
  • December 28 2010 - Birmingham
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Answers (3)

The X factor is... the bank doesn't want to own properties. They only loan on them. They don't have a trade department and can not trade.....your not dealing with entrepreneurs.. you dealing with corp America.
  • December 29 2010
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Profile picture for Steven G. Hinton
Like Michael said, it won't hurt to ask. It is hard to see how the trade would benefit the bank.
  • December 28 2010
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This is going to fall in my anything can happen category. All you can do is ask. My personal opinion is that if a bank has one non performing asset like the foreclosed house you are interested in they most likely do not want to trade it for another. All they really want to do is sell it and get it off their books. You may have better luck negotiating a trade with whomever buys the house.
  • December 28 2010
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