Good to see that there are folks offering to list the home for free or heavily discounted - just what she needs, that great focus and motivation from an agent working for free.
Katina has given the correct response in that the current value of your home is the key to a sale. Is the payoff Plus any equity you wish to gain or need within the Price range you could receive in a sale.
I can look at your Numbers and also offer you at least 2 to 3 ways to sell your home whaere compettitive commissions could be the answer. Location and condition are also very important.
For a review and friendly discussion give me a call. I assure you "no hassle" and will only proceed on your invitation.
Ken Guillen. Associate Broker, REO Certified Specialist
Casey and Associates Realty Co. (on Clairmont Road)
Buyers should beware of such agents or brokers.
As Diddy says - "playas, talkin' it, but ain't livin' it."
I would like to see the P&L statements of these tools.
Desari seems like a solid agent in Stone Mountain - talk to some agents Pati, but as Stephanie suggests you need a broader look at finances, loans and lending before you leap into the move up market...
The first thing you need to do is get qualified to own two houses. In other words, that you don't need the proceeds from the current house to buy the new house. The underwriting rules are pretty strict and depending on your equity position in your current home. Best of luck! Also suggest you work with a good local agent on the buying side and ask for a buy/sell discount if that agent gets to represent you on each side.
5565 Glenridge Connector NE Ste. 400
Atlanta, GA 30342
Atlanta Housing Source at
Solid Source Realty, Inc.
Home Buyers & Sellers - http://www.AtlantaHousingSource.com
Property Management â€“ http://www.SolidSourcePM.com
I would be happy to assist you with the sale of your home as well as your purchase. Please feel free to contact me, and I can let you know how much your home is worth in today's market.
Your best option would be to speak with a Realtor so that you can determine an amount at which you'd most likely be able to sell your home and assess your entire picture to better direct you. As for not being able to purchase for 3 years after having a short sale, my sister sold her home in Indianapolis in February 2009 via short sale and is now purchasing another home in East Point with an FHA mortgage. If you have a verifiable hardship, are considering a short sale, and would like to purchase another home; then, my suggestion would be to speak with several area mortgage professionals in order to get a clearer depiction of what your purchasing options may be.
If we have 100% missed the mark on your question, please restate it and we will help any way we can.
To oversimplify, if you owe less than the house is worth, then you don't have a major problem. Example: You owe $200,000. The house is worth $300,000. You sell for $300,000, pay off the $200,000 mortgage, pay the other expenses (Realtor commission, miscellaneous costs), and walk away with about $75,000.
On the other hand, if you owe $300,000 and the house is only worth $200,000, you're $100,000 "upside down." You owe more than the home is worth. In that case, either you'd have to come to closing with $100,000 or you could attempt a short sale for $200,000. In that case, your lender would have to agree to absorb the $100,000 loss . . . or it might somehow attempt to stick you with it. (Your Realtor can advise you on these possibilities.) A short sale would also damage your credit and make it nearly impossible for you to buy another home for several years.
Hope that helps.
Iâ€™m not sure what youâ€™re looking to do, but I would be happy to provide answers to any mortgage question you have. My contact information is below.
Jonathan R. Cundiff
Home Mortgage Consultant
Wells Fargo Home Mortgage
464 Cherokee Ave SE
Atlanta, GA 30312
The only thing that you have to worry about is being able to sell it. If you would like assistance feel free to contact us.
Your biggest obstacle will be current market value...is it worth what you owe?