my husband and I need to sell our house because of a job change. What happens if I cant get the amount of my mortgage out of the sale of the house? Will i have to pay that before it closes or will i still be able to make payments? what are the hidden costs in selling a house? I want to know how it works, so let me know! thanks!
2006-12-26 02:17:52 · 7 answers · asked by lonijean 3 in Business & Finance ➔ Renting & Real Estate
Get a Realtor who has experience in "Short Sales". A short sale occurs when the mortgage company agrees to take less than is due on the mortgage.
The mortgage company does not have to agree to a short sale, but many do. Mortgage companies do not want to own residential real estate. If they can get most of their money, they will usually be happy.
You need an experienced agent who has dealt with short sales. If an agent doesn't have any experience, find one who does.
2006-12-26 04:27:12 · answer #1 · answered by txrealestateagent 3 · 0⤊ 0⤋
Offering agents lower commission will cause you house to sit on the market even longer. (They will not show your house over another offering higher commission). Contact a mortgage lender and ask them what your options are-there are bridge loans available. Also, you could carry a mortgage on both houses but most people don't want to do this. A real estate agent and your lender should both provide you with an estimate of closing costs so you know what all would be coming out of your pocket and what would be going in. There should be no hidden costs.
2006-12-26 03:11:03 · answer #2 · answered by Val 2 · 0⤊ 1⤋
I don't know where you live, but real estate in the U.S. is not selling fast right now. It's in a slump most places. I suggest you contact a realtor for advice. For Sale By Owner will be even slower right now.
2006-12-26 02:20:39 · answer #3 · answered by Wiser1 6 · 1⤊ 0⤋
extremely not some thing. that's why I have interaction the amenities of a qualified actual sources agent - someone who knows the community market. there is not some thing in any e-e book or record off the internet that ought to replace a qualified actual sources agent.
2016-12-01 04:38:03 · answer #4 · answered by ? 4 · 0⤊ 0⤋
call a real estate agent. you must pay off the entire balance to xfer the deed. real estate agents commissions are negotiable try and get 4-5% total commision rather than the 7-8% they will offer
2006-12-26 02:21:52 · answer #5 · answered by Anonymous · 1⤊ 1⤋
write in details at kishaloy_bhowmick@yahoo.com ,no problem about having the house sold.
regards,
kish
2006-12-26 06:26:10 · answer #6 · answered by kishaloy_bhowmick 2 · 0⤊ 0⤋
http://www.realestate.com
2006-12-26 02:55:38 · answer #7 · answered by sunflare63 7 · 0⤊ 0⤋