I want to sell my house, can't afford to fix everything, bad credit score to get a home equity loan, I just want out from underneath it, don't think it will qualify for a bank loan.....
2007-08-13 09:09:36 · 8 answers · asked by ? 1 in Business & Finance ➔ Renting & Real Estate
I have a house in North Pole, Alaska I would like to sell, can't afford to fix it up, it may not qualify for a bank loan. I just want to move closer to my parents in Montana..
2007-08-13 09:56:00 · update #1
Get a Realtor and have him/her give you an idea of what the house would get on the market. They can give you comparisons in your area to homes of similar size, age, and specs. Then if like what you see, have the Realtor sell the house for you. Most Realtors will have you sign a listing agreement, that are usually 6 months to year. Someone may be interested in a fixer upper that has the money to do the needed repairs and work. Good Luck!
2007-08-13 09:21:01 · answer #1 · answered by Drew R 3 · 0⤊ 0⤋
Your realtor should do most of the work. If you haven't picked one yet, look for one that has higher volumes, or one that is in a larger brokerage that has the cash to advertise. You might even consider a rent to own, that helps to get people in much easier than getting traditional financing. When it comes to signage, I get bigger signs. Sounds crazy, but all real estate signs are the same. Make yours stand out, make the sign bigger or change the shape. Everyone looks when they see a for sale sign that's a circle! Keep that flyer box on the sign full. Also, Most Important, if you are selling it as a rental or investment, call every 1031 exchange company in your area. If you don't know what a 1031 is, google it. Exchange companies have customers with a tight IRS window, meaning they have to find properties within a certain period of days. I sold a rental once in 1 day buy calling a 1031 company and they had a client with 5 days left to find a property. The nice thing about 1031 clients is they pay with a lot of cash down, and many times quickly. Good luck to you.
2016-05-17 04:46:07 · answer #2 · answered by kayla 3 · 0⤊ 0⤋
A good REALTOR would know a way to sell your home as a fixer upper. And It would be wise to sell it for well below the comparable homes in your area. The reason being is that an investor would buy the home if he can make a profit off the home you are selling. Also if your neighborhood has a great appeal and is well taken care. That would entice an investor to buy, because it would be easy to sell. And investors also want an easy and fast sale because of the loans they take out. Good Luck.
2007-08-13 10:25:52 · answer #3 · answered by Ulises Romo, REALTOR 1 · 0⤊ 0⤋
Real question is can you get enough to cover what you owe on it in todays market? If it was in good shape when you bought it, financed 100% and it was only a couple of years ago I would venture to say no. But all you can do is check with a Realtor, see what it is worth, and compare that to what you owe. Make the judgment from there. Best of luck
2007-08-13 09:22:21 · answer #4 · answered by Pengy 7 · 0⤊ 0⤋
The only way is to sell a fixer is owner contract and you to carry the paper or a all cash sale. Lender will not lend on a house that is fair or poor conditon.
2007-08-14 05:46:45 · answer #5 · answered by Leo F 4 · 0⤊ 0⤋
Sell it at a cheap price. Investors will want to buy it.
2007-08-13 10:01:43 · answer #6 · answered by frankie b 5 · 0⤊ 0⤋
hi, where is your house? how much are you asking for it ? i was trying to email you,, but no luck
2007-08-13 09:31:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
i would try to fix it up
2007-08-13 09:23:55 · answer #8 · answered by beachlover 2 · 0⤊ 0⤋