I live in Michigan, which is 50 out of 50 in terms of economic strength in the nation. Forclosures abound, and I consider myself lucky to have gotten an offer at $10k less than what I bought my house for two years ago. That's to say, I bought for $185k, and the buyer is offering $175k. I owe $172k on the house right now. What, beyond realtor fees, will I pay so I can make a good assumption of my out-of-pocket costs?
2007-02-03 03:44:37 · 4 answers · asked by Tr0nik 2 in Business & Finance ➔ Renting & Real Estate
Dont sell at a lower price.
2007-02-03 15:47:25 · answer #1 · answered by coooooool g 2 · 0⤊ 0⤋
I don't know the particulars of the offer, nor do I know what the customary closing expenses are in your locale. Your Realtor does though, and should have given you a net sheet with the offer. Have them figure out an estimate of what you'll need to zero out, and counter just a bit above that to be safe.
2007-02-03 04:03:25 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Be glad if you can walk away with zero. Many will try to hold out and lose it all.
You might want to counter with a walk away offer and cut commision.
Best of luck.
http://www.breakingbubble.com/index.htm
2007-02-03 03:54:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
call your mortgage company and sak about a short sale....They may do it......
2007-02-03 06:58:00 · answer #4 · answered by ron d 3 · 0⤊ 0⤋