Thread: Trying to Sell

If you are finding difficulty in selling your house then I will suggest you to look for some resources from where you can better approach some online agents that will help you in selling your house.

You need to check with a local agent to figure out the costs of selling. Many localities have their own taxes/fees associated with selling.

You can only do a short sale if you are behind on payments and can prove a financial hardship. Thus, you can not buy another house after a short sale.

There are a number of agents in the area that can give you advice and assistance regarding the matter. Try checking over Zillow and you will see a list of agents that have been classified according to location.

Originally Posted by RealEstateAgentsRichmond

Welcome to the forum, im new too!

Hi, welcome. I'm happy to see you here. Hope you'll have a great stay.

A short sale is when you cannot sell for what is owed. However, it does not mean that the bank necessarily eats the loss. If you want to save your credit you might consider paying the short fall. Basically I'm saying you are already in a short sale.

I would quit looking at how much you have to get and look at how much you can actually sell the home for. Get three price opinions from different brokers. Do not let them know you are interviewing them AND DO NOT under any circumstances tell them that you've got to get one dollar amount or another. There are plenty of Realtors who will tell you what you want to hear to get the listing.

Then decide what your credit is worth to you. If there is a short fall of $5, $10 or more thousand dollars how much are you willing to pay. If you are not willing to pay you need a very experienced agent to represent you and give you your options. Find out from your current lender what options they have. I recently did a short sale in which the seller was never late on their payment.

Good luck!

Originally Posted by equivalent

Kinda stuck between a rock and hard plate rate now. Here's my dilemma. House has been up for sale for the past 6 month with very few showings. Probably priced high from the get go.

In may of 2008 i bough the house for $158,500k + roughly $8k in closing costs. I got a Sunny Mae Mortgage where they basically payed 95% of the closing the costs on the house. I ow nothing if i stay in it for 7 years if remember correctly. Then i got the Feds $7500 home credit (repay $500 every year thru taxes till payed off). I used the $7500 for all new windows, vinyl siding, new Kitchen. Which i wrote off siding and windows for the energy credit the following year. I did all the work myself

Im trying to figure out the lowest i can sell this house without doing a short sale.
I currently owe roughly 146k in principle.

146k(principle)+$7k(fed credit)+$7-8k(sunny mae)+8k(realtor roughly commision i believe)

Im pondering if i sell less then 170k i might aswell do a short sale? So i should probably lower the house from the 199k its currently listed at to either 175k or 179k? let me know what you think. I know the sunny mae has some special arithmetic if you sell it with the 7 years it reduces i believe... I believe the originally amount they gave toi my closing costs was $7,600 off the top of my head back in may 2008

-John