Property Swapping!?

[monkeyboy]

Hi

I have heard of this , sometimes you see it in Buy and Sell....

How does this work?

If no money changes hands is there only legal costs?

Im very interested to see what this topic opens up!

cheers

 

[mf1]

The only thing you'll save is estate agents fees. You'll still have legals and you'll still have stamp duty. It was something useful years ago when you only paid stamp duty on the difference in value between the two. Not anymore. Stamp duty is applicable on each of the values of both of the properties.

Any more bright ideas, monkeyboy?


mf

 

[monkeyboy]

so its the same as selling it to each other?!!

I pay the stamp on the new on e and they on mine!

Just an unusual thought I had!

 

[liteweight]

A long time ago this method was used for county council tenants who wanted to move to another area. For exam if you'd been allocated a house in Finglas but you wanted to live in Clondalkin, you'd swap county council houses.