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Trade-In/Negative Equity

Profile picture for Damatt2
If I were to trade in my office to a builder could I get creative with the mortgage.   I currently owe 113,500 and they are offering 103,000.  The new house is listed at 207,500, but appraised at 220,000.  Could I offer 218,000 on the new house to bring up the trade offer to 113,500?  That would leave no negative equity and be under the appraised value.
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January 23 - US
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Profile picture for Wes Black
You have nothing to lose to try.
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January 23
 
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