Trade Deal...are They Possible
There is a seller interested in downsizing to one of my homes, by trading for their larger much more expensive home. I am unsure how to work this deal. How do trades work in Texas? Do we subject to both homes? Their home is 560k and mine is 260k. Do I have them credit me the 260k then get the 300k or have them carry a second???? Not sure how this works yet...help! :)
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Give us more details...what are the loan balances on each of the properties...etc?
My property has a loan balance of 217k their loan balance is around 545k. The prices in my previous message was sales price for mine 260k and their "bottom line" sales price.