Home Selling in 01960>Question Details

Iltx, Home Seller in 01960

Need help! I want to sell my condo in IL because I now live in TX.

Asked by Iltx, 01960 Wed Oct 6, 2010

I want to sell my condo in IL because I now live in TX. I'm currently renting it out, but the lease is up soon. I owe more than the condo is worth and I'm not sure what to do.

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Thank you, Thaila! This was my primary residence when I lived in IL, then I moved to TX unexpectedly (but the move is permanent). I was unable to sell at that time so I found a renter. Now I’m feeling anxious about the next steps to take. You’re right, I should contact my agent for more information. Thanks, again!
0 votes Thank Flag Link Wed Oct 6, 2010
I have sister companies in IL through Leading Real Estate Companies of the World. The corporate HQ for Leading Real Estate Companies is in Chicago. We have alot of great agents & brokers that can offer advice & guidance & are glad to be of assistance. http://www.LeadingRE.com

Let me know and I can find you the local office for you if you'd like,
Web Reference: http://www.MedfordHouse.com
0 votes Thank Flag Link Wed Oct 6, 2010
Have you considered looking into a Short Sale, which is when you speak to your bank about your situation? I don't know if an investment property will qualify for a short sale or not.
Do you know if any other condos in the area have been selling and for how much? I think you're doing the right thing by asking questions. Are you still in contact with the agent who helped you purchase your condo? He/she will be able to get you many of the answers, such as what is the value today, how long is it taking for condos to sell, etc.

Is there any reason why you could not re-rent it to a new tenant and still break even? Is your move to TX permanent or temporary?

I have real estate contacts in the suburbs of Chicago (Oak Park, River Forest area) who might be able to help if you like. "Til then, talk it over with the agent who represented you with your original purchase.

Best of luck to you.
0 votes Thank Flag Link Wed Oct 6, 2010
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