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Have questions? We’ll help provide answers. Below are some important FAQ’s regarding trading real estate in California. Understanding the process is key to making your trade smooth and easy. For more indepth information please contact Bruce Blomgren today.
| Question: How Does a Tade Work? |
| Answer: The concept works as follows: I’ll buy your house, but only if you buy mine. It can also be viewed as two separate transactions taking place at the same time where Party A buys a house from Party B, while Party B buys a house from Party A. The closing of each transaction is contingent upon the simultaneous closing of the other. |
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| Question: What are the Benefits of Trading? |
| Answer: Unlocking your equity. This will allow you to move if a sale has been difficult. Taking a less expensive home in trade allows a Seller to lower his exposure on a home that isn’t selling. Not owning 2 homes. In the past, this was very common because homes sold quickly. But, Buyers in today’s market will often not act if they can’t sell their home. |
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| Question: How is Financing Structured in a Trade? |
| Answer: Of course, the simplest trade is for two homes that are free & clear. But, since this is not always the case, if you remember that a trade is basically two sales happening at the same time, each party will secure the funds needed to close the sale. |
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