I tryed to sell it thu ReMax, but no buyers. There are 4 more condos for sale across the street from me, and 3 more around the corner. Those condos have been on the market for well over 11 months. We took ours off the market because Remax said that we would have to come up with $5, 994.37 at closing. We don't have that kinda money, and this is why we have NO choice but to leave. Why stay and get buried in more debt worse than we aready are?!?
2007-12-14 09:02:27 · 8 answers · asked by Tim Cowan 1 in Business & Finance ➔ Renting & Real Estate
Don't make a very foolish mistakes.
The VALUE of your home may have fallen, but you only lose ACTUAL money, not to mention destroying your credit for the next 4 years, if you bail out.
Moving, unless you have a growing family or relocating, is a WANT not a NEED.
People have to make some tough choices in this market, and don't stomp your feet and take your toys home just b/c you don't get your way.
Stay put, and you have lost nothing. When the condos across the street sell, you may, in fact, have equity. But you have to stick around for it.
2007-12-14 09:28:17 · answer #1 · answered by Expert8675309 7 · 1⤊ 2⤋
WT reread the question there WILL be NO profit.
Is it fair to say that you can not afford the condo any longer regardless of the value?
Perhaps you should consider renting the unti out, if allowable by the HOA.
2007-12-14 17:36:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
i think lissy gave you a very good answer, hmmmm you need 6000 to close with because your cost and mortgage is more than what you could get as your sales price. HA HA, and what does the realtor get, think about it i bet at least 6% of the sales price, no idea what you are asking but i bet if you sold it on your own and even reduced your price you would walk away even. dont let the bank foreclose on you, worse thing you can do short of filing bankruptcy, if need be do a lease purchase or option to purchase, there has to be a way gl
2007-12-14 17:51:06 · answer #3 · answered by donald e 4 · 0⤊ 2⤋
If can afford your condo, stay.
I guess for me your question doesn't address why you are trying to sell, or why you think you have "NO choice but to leave."
2007-12-14 20:41:39 · answer #4 · answered by godged 7 · 0⤊ 0⤋
Why are you trying to sell ? Is it just because your property values have decreased ? If so, that's a pretty dumb reason. If there is no reason to sell the property, stay there and continue making your mortgage payments as you agreed.
2007-12-14 17:07:34 · answer #5 · answered by acermill 7 · 0⤊ 2⤋
Just an idea.
I was looking around in eBay and I noticed that their were many homes for sale.
Maybe you should try a for sale by owner....
Who knows, you might succeed in selling your home on your own.........You'll be surprised.........
Good Luck
2007-12-14 17:13:50 · answer #6 · answered by Lissy 3 · 0⤊ 3⤋
It stinks I know.
It is not a sellers market.
You answered you own question though.
2007-12-14 17:06:01 · answer #7 · answered by Mom of 2 great boys 7 · 1⤊ 0⤋
Can't they just take the $6000 out of the profit from selling?
2007-12-14 17:06:11 · answer #8 · answered by WT 4 · 0⤊ 4⤋