To trade houses in the United States, first assess financial readiness by securing pre-approval for a mortgage, save for a down payment (typically 5-20% of the purchase price), and review current market conditions. Next, work with a licensed realtor to identify properties, evaluate their value through inspections, and negotiate offers. Finally, complete the closing process with legal documentation and payment transfer.

The process relies on structured steps to ensure compliance with federal and state regulations. Financial readiness is critical because 89% of homebuyers in 2023 relied on mortgage pre-approval before searching, according to the National Association of Realtors (NAR). A 5-20% down payment aligns with conforming loan standards from Fannie Mae and Freddie Mac, which require minimum equity to mitigate default risks. Market conditions matter because the U.S. housing inventory stood at 1.42 million properties in May 2024, a 15% drop year-over-year, per the Federal Housing Finance Agency (FHFA), pressuring buyers to act swiftly. Realtor involvement is essential; NAR reports 88% of buyers in 2023 used a realtor, who provide access to listing platforms like and local market insights. Negotiation success hinges on timing; 65% of offers in high-demand markets require multiple bids, as noted by Zillow. Closing typically takes 30-60 days, with average costs representing 2-5% of the loan amount, including title insurance and origination fees. Interest rates, influenced by the Federal Reserve’s 2023 hikes, impact affordability—30-year fixed rates averaged 7.25% in June 2024, up from 6.5% a year earlier, per Freddie Mac. This structured approach minimizes risks like financing delays or legal disputes, ensuring efficient transactions.