Home Buying in Port Richmond>Question Details

Michael, Renter in Philadelphia, PA

If someone has a For Sale property on the market for a long period; would a broker recommend to an owner to consider renting?

Asked by Michael, Philadelphia, PA Thu Jan 24, 2013

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5
Sheri Curci’s answer
Good Evening Mike, There are 3 reasons why a home would not sell....

Price
Location
Condition

I've been happily selling homes with Sheri over 17 years and the last 5 years have been the Most difficult time to sell property.

Please note I said Difficult.... Not Impossible... I love a Challenge

Feel free to call me if your Interviewing?

All the Best John + Sheri 215-757-2889
0 votes Thank Flag Link Fri Jan 25, 2013
Hi John and Sheri! I'm in the market to Rent--and just wondered if there were sellers--perhaps in an over their head situation, or for any variety of other reasons would be willing to rent a property that has been on the market for longer than say 90 or 100 days...or longer.
Flag Fri Jan 25, 2013
It really depends on the seller. Some will never take a chance on renters due to the threat of damage, non payment and other ugly stuff.

Most likely the seller needs the procedes from the sale of there currant home to buy the next. So renting is not a good option.

Or maybe the seller is under water and needs out from under there mortgage.

I could keep throwing examples at you but will not. Seller are listed for sale to sell for there own reasons so looking to get one to rent there home would be on a case by case deal.
0 votes Thank Flag Link Fri Jan 25, 2013
This is a question that should be discussed in person. but it depends on the wants and needs of the Seller and why the house has not sold and location of the house. Please call me at 215-725-5700 X49 for more details

Philip J. Cunningham Sr
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
215-725-5700X49
Web Reference: http://www.GreatPaRE.com
0 votes Thank Flag Link Fri Jan 25, 2013
There are a few factors involved in making this decision, such as: the owners' motive for selling, rental income vs. holding costs, is the owner planning on purchasing another home, etc. But in certain scenarios, renting rather than selling can be a viable option.

Best,

Ryan C. Garrity
U S Spaces, Inc.
2043 Locust St., 1F
Philadelphia, PA 19103
215-829-8850 x208
215-514-9424 (cell)
ryan@usspaces.com
http://www.usspaces.com
0 votes Thank Flag Link Fri Jan 25, 2013
Depends on how much the mortgage is, sometimes people people are underwater and need more money then the home is worth. 90% of the time its the price is too high. Is your home the one for sale? Do you have a realtor helping you sell it? May I take a few minutes to speak with you if thats the case. Feel free to contact me if you have any questions.

Jon Unrath
JUnrath12@comcast.net
Weichert Realtors Media
267 968 1505
0 votes Thank Flag Link Thu Jan 24, 2013
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