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House trading gains popularity

House trading gains popularity



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SALT LAKE CITY -- A new way of selling homes is getting more popular as the housing market tries to recover.

Your house sits on the market for months and no serious customers come around. Well, if you can't sell your home, maybe you can trade it.

Onlinehousetrading.com CEO Daniel Westbrook said, "We say 'trade' but it's really, put into simple terms, ‘If you buy my house, I'll buy yours.'"

Westbrook says there are ways to make sure you don't get stuck with another home you can't sell.

"You need to make both contracts contingent on one another. The one thing we recommend is that they use the same title company," he said.

Other mortgage analysts recommend using an independent appraiser, also.

E-mail: pnelson@ksl.com

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Paul Nelson

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