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Updated over 7 years ago,
Neighbor Passed Away,Can I trade My Vacation Home For Their Home?
Ok so sadly, our neighbor passed away at the age of 90. We live in the center of town and double lots are very rare, her home is worth about $600,000 lot value and the structure is a home from the 40s worth nothing. Anyways I own a vacation condo in another state worth around $650,000. What happened is our neighbor had no kids so she left the home to a relative who doesn't live anywhere near this home, actually she lives very far away. We were talking bc she would like to sell the home and I would love to buy it. I would like to learn more about possibly trading the vacation home in south florida for the home next door. Her house is paid off, my home in south florida has a mortgage of 228,550 left but I can pay it off if it will make it simpler but she was open to the idea of a beach house and i would love the home next door. What would be the next step in working something like this out? A realtor in texas or a realtor in florida or an attorney?
What would the taxes/fees/etc involved in something like this be called and does it have a name for me to read up on more