A house swap in the UK is a great way to have a very low cost holiday and will give you a chance to explore some great new areas of our wonderful country. You can drive to anywhere in the UK and take all your home comforts so you won’t have to spend much money at all on your holiday. House swaps are a lot of fun and give you a great opportunity to enjoy a more local side of an area as well as save a lot of money!
Locate several house swapping websites backed by companies who have experience in this kind of transaction. Many of these companies employ real estate agents to facilitate questions and negotiate the deals.
Register with the company. This involves filling out paperwork about your financial status, the condition of the home and other pertinent details relating to most real estate transactions.
Browse through the listings of available houses. While you might not find your dream house available, if you have reasonable expectations, you may find a match. Consider every feature of the home, just as you would if you were going the traditional real estate route.
Inspect the home personally. Ask the owners to provide information on major appliances, neighborhood details, recent repairs and other important homeowner questions. Ask for any recent inspection records or arrange for inspections to be done on the property.
Hire an attorney with experience in real estate transactions to review all the paperwork before you sign anything. An attorney will advise you on any parts of the contract that might work against you.
Make arrangements for the transaction. Using the middleman services of the house swapping company, negotiate the time and date for the swap. You must both pay off existing loans and obtain financing for the new home.
Ensure that both your transaction and the other party's transaction are being processed by the same title company. This way, they can be closed at exactly the same time rather than leave one party responsible for two mortgages.