Last night (Tuesday, May 27, 2008) KY3‘s Cara Restelli reported in her “Contact KY3” segment about innovative ways buyers and sellers are working with one another to make real estate transactions in today’s sometimes challenging housing market. The story highlights the practice of trading houses, an occasionally workable solution in which a builder or other seller is willing to accept their buyer’s home as partial payment for the home the buyer wishes to purchase. In the right circumstances, this practice can help builders and other sellers overcome today’s buyers’ most significant mental hurdle: “But what if I can’t sell the house I already own?”
In this news story (below), two HBA members shed light on the practice. Realtor Jim Bolin (Carol Jones Realtors) and builder Terry Ozborn (Ozborn Homes) help explain how the process can work.