i've only had my house for nine months my sister and my boyfriends best friend moved in with us(me and my boyfriend). we got a house with extra bed rooms because my sister and the friend told us they would stay for a couple years. they wanted to help because we just had a baby in april. my boyfriends friend left in july with 2 weeks notice an didn't give us any rent money for the previous month. now my sister's leaveing(she didn't tell me i found out from my mom) and she has not given us rent for this month. we charge 475.00 per month is that too much.i work 4 jobs right now because i can't get enough hours at one or two my boyfriend works full time and goes to school. can i sell my house this soon after i bought it and get enough to pay it off? i need help please
2006-12-15 07:27:30 · 10 answers · asked by jenhuggie 2 in Business & Finance ➔ Renting & Real Estate
It will really depend on the market in your neighborhood, but generally, the answer will be no. Your house probably hasn't appreciated enough already to cover the realtors fees and closing costs that you would incur by selling. That will more than likely erode any profit you've seen thus far. Additionally, there are potential federal income tax implications for selling if you haven't been in the house for at least two years. Also, by selling you're losing a hefty tax deduction. Since you've only been in your house for 9 months, you haven't seen what that's like yet. Consult your realtor and a tax advisor before making any moves.
My advice (for what its worth) would be to find other people to rent rent those rooms to and stay where you are. You've made a very wise investment by purchasing a home. You should hold onto it.
2006-12-15 08:05:37 · answer #1 · answered by jeepdrivr 4 · 0⤊ 0⤋
As many members here have stated get a market analysis from your local REALTOR. He/She can do a neighborhood comparison and tell you whether its worth to sell or not. Ask for a net sheet which will tell your overall walk away from your current home. Some markets are still doing well despite what the media state's so you might have some great equity built up in the home to get out it you need to.
Also look at local colleges or put a post for some roommates. Might be a hassle right now but stress over going into foreclosure suxs. Maybe talk to a loan officer about your option's if you dont have a prepayment penalty.
Good luck!
2006-12-15 08:48:05 · answer #2 · answered by Openthathouse.com 4 · 0⤊ 0⤋
In uk there are a number of rules to be observed. different than for the hygiene ones there's a query of labelling. All tarts ought to have an actual checklist of all components, volume of each and every in step with cake or in step with a hundred gm. the quantity and share of fat, sugar, salt etc.. a catalogue of any ingredients or colourants. in spite of if any nuts or hypersensitive reaction style components are modern. I truthfully could question in spite of if it became all nicely worth it. ought to mum administration her baking so the parts and effects have been precisely the comparable every time? you're able to do what you like at abode or supply them away yet can no longer sell them. Even the WVS and mothers Union have had to end the handmade cake revenues at fetes and comparable by using fact of rules and rules.
2016-10-15 00:29:57 · answer #3 · answered by Erika 4 · 0⤊ 0⤋
If you haven't made any improvements and the housing market isn't outstanding in your area, you are unlikely to make a profit off the sale, but will probably make enough to pay it off and pay your closing costs.
You should have signed a lease with the friends or not purchased a home beyond your means.
2006-12-15 07:39:19 · answer #4 · answered by Phoenix, Wise Guru 7 · 1⤊ 0⤋
You definitely need to speak to a Realtor. You might be able to make enough on the sale to sell and payoff your mortgage. There are options, and a Realtor will be able to identify all of them for you. If you live in or around St. Louis, MO, I would be more than happy to help.
2006-12-15 08:27:08 · answer #5 · answered by firedncer80 2 · 0⤊ 0⤋
its very doubtful you have enough equity built up to make money selling the home. you may however be able to break even if you can get more for the house than you paid. call a realtor and see what they can do for you and what they think you could get for the house
2006-12-15 07:53:17 · answer #6 · answered by Queen B 6 · 0⤊ 0⤋
buying and selling homes is very expensive, lots of money involved in closing costs, even if you are the seller you still have to pay some closing costs. instead of selling kick out the bums that are not paying rent, and if you still don't make enough money to pay for the house, advertise for someone to live there and charge them rent..this is easier than trying to sell your house.
no one lives for free..........
2006-12-15 07:40:10 · answer #7 · answered by besthusbandever 4 · 0⤊ 0⤋
You might actually want to take a look at refinancing and doing debit consolledation it will do alot for you and can possibly sayve you 1000's .
If you want more information my email is sarahglian@yahoo.com. I am a direct lender for Fannie Me, and I can help you look at it. But you have to do what is best for your situation.
2006-12-15 12:46:29 · answer #8 · answered by sarahglian 2 · 0⤊ 0⤋
you need to talk to a local realtor. have them do a market evaluation to see if you can get enough to pay it off.
2006-12-15 07:37:40 · answer #9 · answered by daniel r 4 · 0⤊ 0⤋
you won't get the amount that you paid for it, since it depreciated.
2006-12-15 09:08:30 · answer #10 · answered by Anonymous · 0⤊ 1⤋