
Apartment too small? House too big? Swapping is the solution!
older people often find it more difficult to live alone in their own homes as they get older. Once the children have long since moved out, the once beloved, spacious house suddenly seems much too large, and the distances to doctors and shopping facilities become too far. It is time to look for an age-appropriate and centrally located apartment. But that's easier said than done, because the real estate market is empty. On the other hand, numerous young families are desperately looking for a house with a room for each family member and a garden where the children can play. A property swap would be just the right thing for both sides. All they need to do is find a suitable swap partner.
A professional real estate agent as an intermediary
The best thing to do is to contact a local real estate agent. As an intermediary, they will usually help you achieve success quickly and will also assist you with the further processing of the sale of your old property and the purchase of your new one. In principle, a property swap works no differently than a "normal" sale: Each party buys the other's property, and the purchase agreements for both sales are, of course, duly concluded by a notary, for which the usual documents are required. However, the big advantage for you if you have a property to offer in exchange is that there is much less competition than on the "open" real estate market. You differ from other prospective buyers in that, ideally, you can offer the seller exactly the property they are urgently looking for—namely, your own property, which no longer suits you. This means that your search for a new home will be more successful.
Property search and sale run parallel
An additional, considerable time saving is achieved by the fact that you do not have to wait until you have found a new place to live before selling your current property. Property search and sale take place simultaneously. Both parties find a home that meets their current needs much more quickly. However, as much as an exchange simplifies the search for a suitable buyer and a new property, you should not forego demanding a fair price for your property from your exchange partner. After all, it goes without saying that the person buying the more expensive property must pay the difference in the purchase price. As with any other sale, a professional valuation of both properties is required to determine this difference. Your real estate agent will take care of everything else that is necessary to complete the exchange and, as a neutral intermediary, will ensure that both you and your exchange partner are completely satisfied with the financial outcome of the property exchange.
Is your property no longer right for you? Would you like to learn more about the advantages and opportunities of a property exchange? Contact us. We will be happy to advise you.
Further information can be found here:
- destatis.de: Housing
- aachener-zeitung.de: Property swapping is becoming fashionable
- noz.de: Offering large house in exchange for small apartment
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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