Show me the money? Or Money for nothing?
It is actually illegal to offer money to mutually exchange a property but it is quite common to see people offering money on ill-informed websites or in newspapers. Sometimes the amount offered can be thousands of pounds. I haven’t looked on the HSS website to see if they hold statistics on tenants who have been refused an exchange on the grounds that financial incentives were offered. I would be surprised if they held them.
There must be exchanges that do take place with finance being offered by one of the tenants involved – but is it right – morally or ethically? A mutual exchange should be just that, an exchanging of properties where both tenants are in mutual agreement.
What are the reasons that people offer money? Is it desperation or just that they want the right property – what ever that might be.
[ad#Google 200×200 right]When I see advertisements that offer money to exchange, I stay well clear of them – not because I know it’s illegal, but because I wonder why they are so desperate. Is it a dump? Is it a really rough area? Do they have the neighbours from hell? What?
I’m sure there are some tenants who are desperate to move for really genuine reasons like overcrowding or personal/family reasons and who think they stand a better chance if they offer a financial incentive of some sort.
Do some tenants take the swap just for the money? Are they happy after the exchange has taken place?
Surely someone must be able to answer one or some of my questions ……………….?
Your comments are welcome about this subject.
Author: CCHE Deb