You have recognized that there are some great values out there today. As a realtor familiar with the Lake & Geauga areas I am amazed on a daily basis to see the fabulous buying opportunities that are out there today, especially in the "step-up" home market.
Please contact me either via e-mail at email@example.com or better yet call me at 440-487-2193 & we can discuss some alternatives.
I look forward to working for you.
In rethinking your problem, one suggestion would be to write an offer that would seek up to 6% of the purchase price toward your points, closing & prepaid expenses.
This will decrease the amount of money that you will need to closing costs and soften the blow on your selling side.
For more info, call me at 440-487-2193 or e-mail me at John@CallRealtorJohn.com
I was reading over your question about having the Seller cut you a check for $15K. In Ohio, this is not the same as Seller's contribution toward closing costs.
The real problem is the $15K shortfall on your sale. There are 3 choices:
1.)Get a higher offer or stay put.
2.)Pay $15K at closing to square up your mortgage.
3.)Have you explored the short sale process?
This is a process that, though time consuming & complicated, can work in this situation.
If your home is currently listed with a Realtor, he should be aware of this process. If it is not listed, give me a call at 440-487-2193 & we can talk about it.
Another option may be to get a second mortgage on the new home after you buy. Second mortgages will ofter allow a new appraisal and it may come in at what you are thinking.... Seconds are just much harder to get now with all the mortgage issues.
Hope this helps.
You would need to be careful off this cash back follow the state laws.
Now is a great time to move up... while you may "loose" some on your sale you will save more on the new purchase...