I need to sell my home within 2 weeks, my lenders will take 25K for the home to sell immediately, but any offer would be great. The home still needs some repairs done thats why the price is so low. The after repair value will be worth anywhere from 80K to 100K. I need to sell quickly to avoid foreclosure, If there's anyone out there that could take this property off my hands or refer me to someone I would greatly appreciate it... There's alot of profit in this investment, but I dont have the available funds for the repairs to capitalize on it. This property is located in Atlanta, GA. Details: I owe about 120K to the bank which was what the home was appraised for when I bought it in April of 2006, but they will take 25K to satisfy my loan because the mortgage is behind about 17 months (I know, that's a long time to not pay mortgage and still own a home). Its a single family 2 bed 1 bath home.
2007-11-02 17:45:05 · 4 answers · asked by Michael Shaw 1 in Business & Finance ➔ Renting & Real Estate
me and my family just went threw this ourself. It needed repairs like painting and carpet, we went with a real estate place - there not too expensive and its the best way too go. We had about 4 people expect it on the first day & by night time we had an offer and accepted it. We had just over two week's to get out, contact the lawyers that are handling your morgage case, ask them if u CAN sell - sometimes they wont let you. Also ask them if you sell in the next two week's do you have time to move out or do you have to be out by that day. Just clean your house from top to bottom then put it on the market asap and let the real estates handle it. Sometimes the real estates will actually buy the house from you and do it up and make it into a rental home.
best wishes
2007-11-02 17:57:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You bought it in April 2006, 19 months ago, and are 17 months behind in payments? So you made one, maybe two payments? And they'll take $25K for it when you owe $120K? Did you totally trash the place too?
Somehow something doesn't sound quite on the up and up here.
2007-11-03 01:09:21 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
You owe $120,000 on the property and the bank will give someone the deed for $25,000... Somehow I am betting the buyer will get the near by bridge thrown in for free too..
2007-11-03 00:52:03 · answer #3 · answered by the_buccaru 5 · 0⤊ 0⤋
How to sell your house quickly
http://on-real-estate.blogspot.com/2007/10/how-to-sell-my-house-quickly.html
2007-11-03 15:35:51 · answer #4 · answered by nigyar_98 2 · 0⤊ 0⤋