I'm moving to oversea and urgently want to sell my house. What can I do if I already put my property in the MLS but no response yet (I need to leave the country at the end of Dec)? Should I talk to the bank to take the house back? Any help will appreciate!
2006-11-30 17:21:48 · 8 answers · asked by tx_cloud 1 in Business & Finance ➔ Renting & Real Estate
Thanks all your feedback...but want to add some more details. Yes I'm renting a apartment in oversea for my wife and son to stay. It is really difficult to catch up mortgage payment and rent in 2 places. I already reduced the price to very mininium cost which can cover the house amount and realtor's fee. I'm in houston, TX, should I get one more realtor to help to sale the house? Many thanks again!
2006-11-30 17:48:57 · update #1
Hopefully you are working with a realtor who was honest enough to explain that price is always the objection. Have you tried lowering the asking price, significantly? Have you done the area comps? What are the houses that ARE selling going for? Don't spend a lot of time comparing to what people are asking for their homes, you want to sell your home, not keep up with the Joneses. The Joneses are trying to keep up with each other, and in this market, might be keeping up with each other for forty or fifty days.
Another thing to do is to aggressively market it. If you reduce the asking price, it will show up on the MLS as a reduction. It will allow people who might have thought they were out of your home's price range to come take a looksee. Let people know you are looking for a quick escrow. You might lose a little leverage, but let people know they have to act now, because you are selling it soon.
2006-11-30 17:30:35 · answer #1 · answered by keithistical 1 · 0⤊ 0⤋
Is it listed with a realtor? If so, talk to the realtor about situation and make arrangements so that you can sign the papers by proxy.
Also let your bank know what is going on so they can work with you and the realtor. Do not let the house go back if it is possible to avoid this at all. It will hurt your credit and take years to repair.
It may be possible to rent out your house while it is on the market. Once again, talk to your realtor. Many realtors manage properties for absent landlords (for a fee of course).
2006-11-30 17:27:15 · answer #2 · answered by maamu 6 · 0⤊ 0⤋
Well, one problem you have here is the media killed market. Many are refinancing at a lower rate or an ARM and renting their homes out till the sales go back up.... which will take about another 5 months or so. BIG PROBLEM for you.... good luck finding a company to refinance since you have had the home on the MLS within the last 6 mo.
It is gonna hurt the wallet but if you are able to take a loss on the home, list it on Craiglist at a wholesale price and specify the date you need to close by... I wish you luck, I just went through something very similar and lost 80k out of my pocket!
2006-11-30 17:33:09 · answer #3 · answered by wizardslizards 4 · 0⤊ 0⤋
I'm assuming that you do not need to sell your current house to finance a new house overseas. If this is so, don't sell your current house. Hire a property management firm to lease your house. You need zero involvement in managing the lease. They take care of everything and on average charge about 15% of monthly lease and you get the rest which should be enough for the mortage and any appreciation will be good investment.
2006-11-30 17:31:00 · answer #4 · answered by lightpulse 4 · 0⤊ 0⤋
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2006-11-30 18:05:02 · answer #5 · answered by JFAD 5 · 0⤊ 0⤋
get a good realtor who will aggressive market your property. right now all buyers are holding on tight because of new reports of drops in prices.. Other option if you can lease w/ option to buy to someone, that will help them and you. Good luck.
2006-11-30 19:49:39 · answer #6 · answered by JNC 2 · 0⤊ 0⤋
Move overseas and rent an apartment. I don't know, where you are moving to, but if it should by Europe, you are probably not able to buy anything anyways. You will sell your house eventually.
2006-11-30 17:26:42 · answer #7 · answered by ? 6 · 0⤊ 0⤋
Your Realtor can direct you to a lawyer who can act Of power of attorney on your behalf. You will still have to pay the mortgage while you're away, but they can handle the transactions for you.
2006-11-30 17:24:55 · answer #8 · answered by FRANKFUSS 6 · 0⤊ 0⤋