Home Selling in Richmond>Question Details

Patsy Withers, Home Seller in Richmond, TX

I live in Rose Ranch Sub. and want to move. Should I sell now or just lease it out? I have lots of up-grades and lots of money in this house.

Asked by Patsy Withers, Richmond, TX Tue Aug 24, 2010

It is a 3-bdr./2 bath ,formal living/dining, tile and carpet.It is 3 yrs. old.1900 sq. ft.,corian countertops. Only 3 houses in neighborhood like it.With no ammenities out here what's my chance of selling and getting a fair price

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4
Hi Patsy,

Part of your decision will be based on what you plan on doing.

Is your plan to move and rent another place or buy a new home?

If you plan on buying another home, your decision to rent or sell will be largely dependent on whether or not you can qualify for the new mortgage under the buy and bail guidelines unless you can qualify carrying both mortgage payments without including the rental income from your current home.

A lot of this will depend on the loan program you apply for, the lender, the type of mortgage you have currently and the reason for the move.

For example: If the move is a result of being transferred for work or relocating to find work, you should be able to count the rental income with an FHA loan without meeting the buy and bail guidelines.

Feel free to contact me if need more information or help.

Good luck.
1 vote Thank Flag Link Wed Aug 25, 2010
Good morning Patsy,

We agree with both John and Ashley's answer. You have to get all the information needed to make the best decision for you. How much have you put into the house? How much do you owe? How much are homes selling for in your neighborhood?

I live in Richmond and the value has dropped a little bit but new home sales are readjusting what was initially lost. You just have to get all the facts first before making the decision. Keep in mind if you rent all the responsibilities that come alone with the house are still your's to maintain.

Faith

Contact an agent to find out.

http://WWW.BUYWITHFAITH.COM
0 votes Thank Flag Link Tue Sep 7, 2010
Good morning Patsy,

We agree with both John and Ashley's answer. You have to get all the information needed to make the best decision for you. How much have you put into the house? How much do you owe? How much are homes selling for in your neighborhood?

I live in Richmond and the value has dropped a little bit but new home sales are readjusting what was initially lost. You just have to get all the facts first before making the decision. Keep in mind if you rent all the responsibilities that come alone with the house are still your's to maintain.

Faith

Contact an agent to find out.

http://WWW.BUYWITHFAITH.COM
0 votes Thank Flag Link Tue Sep 7, 2010
Hello Patsy,

It depends on the comparable homes in the neighborhood. Your best bet is to contact a Realtor to give you a Compartive Market Analysis. This will let you know what your house should sell for. Your Realtor can also give you an estimated net proceeds to give you an estimate of what you will walk away from closing with after paying off your current loan. Your Realtor will also be able to give you an idea of what you could lease your home for. I would love you help you!! http://www.TheSELLierTeam.com
0 votes Thank Flag Link Tue Aug 24, 2010
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