Does the usual due diligence rules apply to house swap?
A permanent house swap is still a legal transaction and there may be issues to be ironed out before the process is complete. A full survey would need to be completed to determine the condition of the property. You should also consider checking the market values of the properties involved, and if they have a mortgage, there must be sufficient funds to pay it off. Any price difference between the two homes should be met either with a cash payment, or by obtaining new financing from a mortgage lender. There will also need to be some form of legal agreement of a transfer of ownership to allow permanent swapping of property, which should present no significant legal problems.
