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Now you can swap your home instead of selling it
Wednesday, 7 January 2009
Two Londonderry estate agents are the first to trial ‘house swapping’ in Northern Ireland.
The pilot scheme is a bid by local estate agents to kickstart the property market here.
The scheme, which will run in association with house swap website houseswapni.com, will offer sellers provincewide a match-making service between potential buyers.
Peter Doherty Estate Agents in Garvagh and Derry-based EOC Estate Agents are the first of five local agencies pioneering the scheme. Others set to get involved are First4Homes in Ballymoney, Coleraine-based IMPG and Newton Estate Agents in Limavady.
EOC Estate Agents owner Eddie O’Connor, said: “We are delighted to be one of the first five estate agents in Northern Ireland to trial the option of house swapping. Already the idea is proving popular with customers — it is this type of innovation which could break the current stagnation in the market.”
Bobby Farren, co-founder of Houseswapni.com from Ballykelly, Limavady, added: “House swapping targets the current market stagnation by re-introducing an old bartering system.”
The swap works by matching seller with buyer who then negotiate all the details of the sale or trade on their own grounds, said Mr Farren.
He said: “It simplifies the deal. You pay for your own valuation, and so does the other party. Normally the property is swapped at the agreed valuation.”
Once a property has been identified for a swap and both parties are in agreement the details are handed over to the professionals to formalise a contract.
“House swapping enables both parties to hold onto the equity they have built up, and they swap a the true value of the property at a set moment in time avoiding property chains,” said Mr Farren.
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There are a few sites which already cater to this market and cover the whole of the UK. I have found that a really good one to use is PartExMyHome.com. The information on there is very clear and the site is very easy to use. We have had lots of interest as a result of the site. The concept is not hair brained. If worked properly, it can be very productive. What is hair brained about finding your next home and finding a buyer at the same time? The concept will work in a buoyant market but it suits the current market conditions very well.
Posted by Visitor | 06.02.09, 15:15 GMT
why dont we have a whipround and get dave and fubar a room?
Posted by ripper | 20.01.09, 00:28 GMT
Not me I'm afraid. Maybe theres more than 1 Fubar. I know another guy called Dave or maybe its you.
You clutching at straws me finks.
I heard a well known houseprice forum is made up of a few posters with multiple ID's, maybe your confusing me with them.
Posted by Fubar | 08.01.09, 16:15 GMT
So the last BTL you bought was 2004 was it?
From UTV comments yesterday: Fubar wrote: "I recently completed on a buy to let."
You are not fooling anyone. Property as an investment is finished in NI. Back to houses as homes.
Posted by Dave | 08.01.09, 15:08 GMT
Dear oh Dear wrong again Dave, The last BTL I bought was in Jan 2004.
Now with base rate of 1.5% is now the time do buy back into the btll market, as long as the figures stack up which they do.
You make me laugh!
Posted by Fubar | 08.01.09, 12:31 GMT
Fubar I said you were probably exposed to the crash. It looks to me like you are. Heavily. Anyone who thinks 2009 is going to hold anything other than falls for property is ....... (I can't find words which will get accepted).
Posted by Dave | 08.01.09, 06:33 GMT
Wrong again Dave.
I work in IT and post regularly on a number of Houseprice forums.
Buy to lets are a side line for me, as long as the figures stack up I'll give it a go. Like a lot of people interested in the btl market I am looking forward to buying more property and if I can buy them off the stupid sheeple who paid to much then all the better.
Posted by Fubar | 07.01.09, 17:25 GMT
It appears from your posts Fubar that you are exposed to the crash and are desperately trying to put a positive voice out there to influence opinions. It must be hard for you to see your paper wealth disappearing before your eyes.
Posted by Dave | 07.01.09, 13:40 GMT
I don't think anyone will need to swap anything, the market is on the move. Anyway I wouldn't take advice from someone who would want to drive a megane.
You must be one sharp cookie.
Posted by Fubar | 07.01.09, 13:01 GMT
Fubar I'll swap you my renault megane for one of your houses. You might have to add a bit of cash too, but we'll work it out.
Posted by Dave | 07.01.09, 09:55 GMT
This is a brilliant idea. I think house prices are at the bottom anyway and think the market will start to move on its own.
Posted by Fubar | 07.01.09, 09:24 GMT
Once everyone gives up on 2007 valuations and cuts their prices this hairbrained scheme will be unnecessary. It'll take time for sellers to capitulate, but it will happen. It always does.
Posted by Dave | 07.01.09, 06:50 GMT