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Home Exchange Overview
Home Swapping is a fairly new concept, still unique to the market. Since its origination in 1992, there have been many successful housing swap transactions that have taken place both nationally and abroad. Currently, BluePointe Realty and our licensed agents are only providing the Housing Swap services in the State of Georgia.
What is Home Exchange?
Home exchange is the act of two individuals, groups or families agreeing to exchange their homes for a defined period of time.
How Does Home Exchange Work?
With our Home Exchange program, there is “No Sale” involved. Each party simply agrees to occupy the other parties’ place of residence at the same time, for a specified period. Once this time has elapsed, both homeowners can agree to extend the agreement or simply move back into their respective homes.
Our Home Exchange Qualification Process Our extensive screening and qualification process can include the following:· Credit Check (all 3 bureaus)
· Criminal Background Check
· Property Lien Check
· Current Mortgage Standing Check
· Employment Check
· Personal Reference Check
· Pet Verification
· Home Owners Insurance Verification
· Home Inspection Review
· CMA Report (or an appraisal dated within 90 days)
Homeowners have the option of choosing which of these screening services will be required, or they can simply request that all verifications be completed.
What Are Some Potential Risks to Home Exchange?
· Theft
· Property Damage
· Injuries
· Cleanliness
· Payment Defaults
What Are Some of The Benefits of Home Exchange?
· No Lender Qualification Required
· Financial Savings
· Convenience
· Direct Exchange Between Two Parties
While our home exchange program is typically modeled after the rental model, a “Sales Transaction” is possible and in the event a sale takes place or is opted, standard commission rates may apply.
Our Fees Our fees for the Home Exchange program are very reasonable and extremely competitive for the services we offer.
Our Fee Structure
Application Fee $100 (per applicant over the age of 18)
*Note: May be negotiable, pending requests by each homeowner.
Transaction Fee $250 (per household on properties valued under 500K)
Transaction Fee $500 (per household on properties valued over 500K)
Listing Fee $50
*Note: Home Exchange Properties will be listed as rentals with the words “Home Exchange Option” available on both the MLS and FMLS system. Home exchange properties can also be listed on our “Featured Listings Section” on our Company website.
When Are Fees Due and Payable?
Transaction fees are paid by each household according to the value of the property they will be residing in. Transaction fees are not due and payable until lease signing has taken place.
Listing fees are due and payable once a homeowner has decided to list their property with one of our licensed agents. This fee is due upfront before the property is actually listed.
Application fees are due and payable once any party decides to proceed with the Home Exchange application process.
*Note: All Fees are Non-Refundable.
There will be a $25 withdrawal fee for MLS, a $25 withdrawal fee for FMLS as well as a $25 withdrawal fee for the BluePointe Realty featured listings section, should a homeowner decide to withdrawn their property prior to the end of a previously established listing term.
How Do I Get Started in the Home Exchange Program?
To find and select an agent to utilize in the Home Exchange process, visit our “Agents Profile Page”, select an agent and contact them directly. Additionally, you may email our firm at HomeExchange@BluePointeRealty.com for additional assistance.
We are confident in our Home Exchange Program and
look forward to assisting you in your housing swap!
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