and she has paid almost $100k...if she were to sell it she could easiy get between $600K and $700k....could she sell it?
2007-12-04 09:07:56 · 6 answers · asked by James L 1 in Business & Finance ➔ Renting & Real Estate
The way the market is all around the country, I wouldn't suggest selling right now. The market is down and your relative probably wouldn't get asking price.
2007-12-04 09:11:33 · answer #1 · answered by Rick 5 · 0⤊ 0⤋
She could try to sell it. How long has she owned the house. If she has owned the house for more than 10 years then she might be able to get a small profit. If she owned the house for more than 20 years then she will get a great profit. If she bought the house in the last 5 years I doubt that she can get 600k - 700k for it. If she bought the house around 20 years for 400k then it could well be worth 600k - 700k in todays market. If she bought around 10 years ago the house might sale for 500k - 600k. If it was a purchase within the last 5 years then it most likely is worth the same amount she paid or even less in todays market.
2007-12-04 17:23:53 · answer #2 · answered by pammi716 3 · 0⤊ 1⤋
CA real estate is number two on the losing value only surpassed by NV. CA down 25% Jumbo loans hard to get. She could try but do not think she will get what you are stating. Most of what she has paid out has been interest also
2007-12-04 17:56:19 · answer #3 · answered by Pengy 7 · 0⤊ 0⤋
Yes, but the proceeds would first be used to pay off the mortgage and others costs in the sales process. She'd get the change.
It all depends whether someone is willing to buy it for what she's selling it for.
2007-12-04 17:18:25 · answer #4 · answered by Anonymous · 0⤊ 0⤋
maybe.. but where would the buyer get the income, a mortgage and the 20% down that is necessary now to even think about qualifying for it ?
2007-12-04 17:19:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
she can not sell the house
2007-12-04 17:13:54 · answer #6 · answered by Anonymous · 0⤊ 1⤋