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You can trade homes like you can a car?

I know it's not available everywhere, but mil told me if we wanted to buy our place/land we could trade the DW for a newer one. Where we live is a '78 DW. The floors are pegboard and caving in. The landlord has been fixing little areas at a time replacing it with plywood. No wonder they want to sell it to us lol. They are asking for too much but SO and I are considering getting it re-appraised since the last one was in '05. If we can in fact trade we'll probably do it. Anyone have advice or knowledge about this?

Answer Question
 
Owl_Feather

Asked by Owl_Feather at 11:53 AM on Feb. 15, 2011 in Home & Garden

Level 22 (13,272 Credits)
Answers (8)
  • I wouldn't. That would be like buying a used car for $3000 just so you can get $1000 trade in on another car.

    JeremysMom

    Answer by JeremysMom at 11:59 AM on Feb. 15, 2011

  • ~*Well*~ our realtor made it clear if we are accepted on a bid we place on a house, the bank will apraise it, and if it is worth less... the bank will not cover what they are asking! Place a bid, using a realtor, and don't allow yourself to get scammed... sounds like you will be taken advantage of!!
    MommaClark3

    Answer by MommaClark3 at 12:00 PM on Feb. 15, 2011

  • what is a DW?
    jamesonjustines

    Answer by jamesonjustines at 12:01 PM on Feb. 15, 2011

  • what is a DW?


    Double Wide trailer

    JeremysMom

    Answer by JeremysMom at 12:02 PM on Feb. 15, 2011

  • oh ok thanks!!!!
    jamesonjustines

    Answer by jamesonjustines at 12:03 PM on Feb. 15, 2011

  • thanks everyone! i am new to this so I'm just looking for whatever information I can get before doing anything lol
    Owl_Feather

    Comment by Owl_Feather (original poster) at 12:10 PM on Feb. 15, 2011

  • You can trade in trailers like cars in many states because you have a title to a trailer like you do to a car. The land is deeded separately than the trailer.

    Personally, I would get an appraisal before I bought AND if you are sticking to the trailer route - go talk to a local dealer to see what kind of deals you can get even without the trade.
    twinsplus2more

    Answer by twinsplus2more at 2:55 PM on Feb. 15, 2011

  • Oh and with a '78 - you probably won't get squat in trade....look at the land value instead.
    twinsplus2more

    Answer by twinsplus2more at 2:55 PM on Feb. 15, 2011

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