I know that the market is bad right now, but my neighborhood is getting bad and overrun with teenage kids that are bringing down the property value. I want to get out while we still can make something off of it. We just moved in last October. We paid $165,000 and we are looking at one that is $220,000. Is it worth it to try and sell it ourselves and what would the approximate monthly payment be. Currently we pay about $1200 a month. We put nothing down on the first house with 30 year fixed at 6.25%. We hope we can sell our house for $180,000. I know it is alittle broad subject, but any help would be great.
2007-07-25 09:49:03 · 6 answers · asked by mpbclutch33 2 in Business & Finance ➔ Renting & Real Estate
There are many services out there now that will help you sell your property. Some of them are an amalgam of realtor/owner with reduced commissions and some simply provide the paperwork and Internet advertising. How much help you need is up to you. With today's prices it really makes sense to think outside of the box a little. Especially in a tight transaction where 6% can make or break the difference.
The payment on your new house should be approximately 25% more than your current house, assuming you put all the proceeds from your current sale into the new home and the taxes and insurance are the same rate (adjusted 25% upward also). That would put you right around $1500.
Good luck, I hope this helps.
2007-07-25 10:09:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If the market is bad, then you're going to be trying to sell the home for a while. Ask for a realtor to do it at a discount. ..but don't expect any service. Get her to list it on the mls and that's it.
One thing people do here is ask for someone to list the house for free so long as the agent gets in on the comm. for the new home. In many NEW homes, the agents comm. doesn't hurt your deal at all. Things are changing, but that is the case most of the time. As always the builder pays comm. not you. it's "built in"
2007-07-25 10:10:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Unless you are located in one of the rare healthy real estate markets right now, you will be lucky to get what you paid for the house. Market values have dropped somewhat in most areas. Unless you have made substantial improvements to the property, stick to your purchase price.
For Sale By Owner can be successfully accomplished, but DO be aware that one of the FIRST points of negotiation a buyer will try is "you're not paying a realtor, so knock 6% off the price."
Buyers are just as interested in saving the brokerage fee as YOU are.
2007-07-25 09:56:28 · answer #3 · answered by acermill 7 · 0⤊ 2⤋
do not try to sell it on your own. you will get less money for it that way. it sucks paying the realtor all that commission, put it pays off in the end. I would never think of even looking at house being sold by an individual unless it was to flip it and resell it!
2007-07-25 09:56:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
you will need to understand the process, know the laws, and the forms.
good luck
2007-07-25 09:58:24 · answer #5 · answered by Blue October 6 · 0⤊ 0⤋
With all due respect, you shouldn't do it if you don't understand the process. There are too many legal minefields.
2007-07-25 09:55:49 · answer #6 · answered by Anonymous · 0⤊ 1⤋