Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
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
