Send an email or give a call, lets do a market analysis of the home in your area. You need someone that will give you an honest opinion on your home and what the current market value is, then we can discuss the options from that point.
There is not too much that can offerd on your question without a consutation on the house and the market.
Broker / Manager
Orange Key Realty
Depending on what you owe on your home, adding the $10000 grant money that must be repaid, closing costs and attorneys fees (if applicable) and what the house is worth today, you may not be able to break even. Overpricing will not make you break even - because a buyer isn't going to pay for an overpriced home. Finding out what the house is worth today is a good start.
Gina Chirico, Sales Associate
In my view, you need to be speaking to an accountant an/dor finance professional to determine your options before speaking with a Reattor. Remember a realtor's goal is to gain your business first and foremost. If u are uncomofrtable with speaking to your current financial pro, email me through Trulia or @ Francesca@PatrizioRE.com and I will set u up with individual that can most appropriate direct you.
Francesca Patrizio, Broker Sales Associate
Glloris Nilson REALTORS, Real Living
732.606.2931 (Direct/Cell 24/7)
Have you considered renting your home? If you must stay there yourself, have you considered taking in a room mate to help with your expenses? This will at least help with some of your expenses while you sort out your next move.
Casa Bella Realtors
I have worked with many homeowners going through the same situation as yourself. It is a little difficult to try to list a home with a realtor and break even while trying to afford to pay a commission. A short sale may be an option, but you will have to wait to purchase another home in the future due to credit issues. You may want to consider a lfat fee listing. Your property will be listed in your local MLS, and the most you will pay will be 2-3% commission if a realtor is involved on the selling side. Please feel free to contact me to discuss your situation.
There are are many factors in play here and to analize yor situation you need to be a little more specific . How much you paid for it? Did you improve it's condition? What was your down payment?......Also , I have not heard of a first time buyer's grant lately or are you talking about a "seller's concession" that goes incorporated to your loan.....Maybe you are on a "Short Sale" category and that's all you need, otherwise if you can afford the cost ypu should stay in the house and wait till the market recovers.
Oscar Alban CDPE
Good luck to you,
Unwavering Commitment to Service
Who or what agency gave you the first time buyer grant? Are there other penalties and/or hardship escape clauses?
Did you put any other money down?
What State is the house?
If you purchased a home at a very good price that when sold would allow you to pay everything back then you might be ok but after 3 mos. I would be surprised.
There are investors who buy distressed property.
I do not have any real great answers for your problem, Sorry.
if you contact me, i can do some research for you, come look at the house and see if what you need to do will work in your favor.
write : email@example.com or call :732-600-5959
I'm sorry I dont have better news for you - - the market isn't appreciating.... it's going to be very hard for you to break even if you have to pay that back and pay real estate commission and the real estate transfer tax....