Our current 6-month contract with a sellor realtor will expire in 2 weeks. The house is our previous residence 1000 miles away current home. We agreed to reduce the price during the selling period, but it won't work. We had quite a few interested and received a reasonable offer. We declined the offer because of a contingency term of selling their own house. Regretted it now :<.
If we sell at the current listing price we'll get 7 grants less than we paid 2 years ago after realtor commission. We wouldn't complain if we lose less than 10 grants. Should we sign another 6-month contract with the current realtor or hire another one (don't know how difficult that would be because of the distance)? Renting is an option since the monthly rent should easily cover the mortgage and December/January is a good month to rent. But we don't plan to rent it for too long. The downside for renting is uncertainty of the tenent. The upside is the hope of housing market recovery.
2007-12-04 09:35:07 · 4 answers · asked by TfC_137 3 in Business & Finance ➔ Renting & Real Estate
you can rent to own. You lock in the price of the house at your asking price today. Buyers come up with down payment. If down payment in short, then you apply some of their rent towards down payment. With the contract you both signed, you should give buyer 3-5 years to buy you out. Alot of people are unable to get a loan right now due to low credit scores. If they come in with good down payment and keep up there payments and it will give them time to rebuild there credit so they can get a loan to buy the house. If they don't keep up on payments then you evict and keep the down payment. But make sure you lock in the selling price.
2007-12-04 09:45:14 · answer #1 · answered by pammi716 3 · 0⤊ 0⤋
In reality the market recovery, especially into profitability is years off. Homes dependent upon location are still expected to drop in value and the market gets in more of a glut during the next 6-12 months, as more loans are coming up to reset. Advice would be to start and keep reading the market trends and reports on the internet at places like CNN.com, yahoo, and fox etc. Yes there is hype about a bailout but that affects very few of those involved more hype that substance. Right now is the worse time since the depression to be selling a home, as there are many on the market, few selling, and few eligible to buy because of the tightening of credit. It is only going to get worse, because of this I am sure the rental market will increase. As stated return to stable prices is still a year off, profitability a longer wait my guess is at least 5 years, if we do not fall into a recession
2007-12-04 09:43:17 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
D) Alert somebody else to propose a supervisor as you nevertheless watch the shopper in the previous some lower back up includes assist you,,,,,,,,,,,tell the supervisor that the purchasers call is Nicholas and that he's a common save lifter of woman underclothes. Griffo, is that this the job application you sent in for the help at grownup rubdown Parlour, St Kilda ??
2016-10-10 06:17:03 · answer #3 · answered by ? 4 · 0⤊ 0⤋
If your rent can cover your mortgage, I would do it. Get a property management company to do it for you.
Make sure you get a good security deposit to cover any damages.
And I don't know what you mean by, "we don't plan to rent for too long." The housing market is not going to recover no time soon.
But rent rates are going up.
2007-12-04 09:50:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋