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House Swapping: what’s the process?
11th Nov 2018

 

Sometimes, in a more positive house-market, some homes would sell within a week. There may be numerous reasons why you can’t sell your home.

 

A straight exchange where each side wants the others’ home depends, of course, on you wishing to buy what your prospective buyer is selling.

 

Some clients are trying to exchange overseas properties, too such as one of our movers who want to exchange her two-bedroom house near Marseille. HomeSwapper4Sale.co.uk, which launched around 10 years ago, links landlords with rental tenants to matching vendors and buyers who want to exchange their properties.

 

 

While the attraction may be to side-step annoying estate agents, this blog post from Home Swapper – after you’ve found a potential swap – guides you in right direction for the potential conveyancing fees you may encounter. Then agree on how utility bills will be settled, speak to all bill provider about arranging services at your new address. Nobody said it would be a short process, but here are the bare bones:

 

1) Transaction costs for a house swap are the same as with any house purchase: seller pays agent's fees, buyer pays stamp duty.

 

2) Swapping works well for downsizers. "The chances are that the buyer for your house will have similar tastes and expectations, so why not speak to them about their property in case you like it," says Phil Tennant from Hamptons International.

 

3) House-swapping can mean a straight swap, where two people exchange properties. But there are also part-exchanges, where vendors higher up the chain buy properties lower down.

 

4) Swaps within families are a traditional form of exchange, says Gideon Sumption of buying agent Stacks (www.stacks.co.uk, 01594 842880). The large family home is passed down to the next generation when they start their own family and the older generation take over the younger family's home.

 

At Gago Movers, we will arrange a synchronized two-way move for your swapping day. We aim to take out the stress out of a stressful process as far as possible. This might be handling communications with the other side of the exchange, as both sides move on the same, or different, days.

 

Our insurance coverage and storage solutions give you the peace of mind as the contents (and memories) of our entire home are in transit.

 

Should you any questions about a potential home swap, drop us an email at enquiries@gagomovers.com

Gago Movers Ltd

Email: info@gagomovers.com

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