Vallee Stetner,
Broker, Salt Lake County, UT
I work and live in 84106 area. If you would like me to take a look at your property and give you a price opinion in "as is " condition and also one for improved condition, let me know. I am happy to do it.
You can appeal your tax assessment. The price opion can help you to do that as well. Also, depending on age, you may be elligible for a lower property tax rate.
Let me know if I can help.
Vallee Stetner
Realtor / Broker
PDS Real Estate
801-699-2022
You can appeal your tax assessment. The price opion can help you to do that as well. Also, depending on age, you may be elligible for a lower property tax rate.
Let me know if I can help.
Vallee Stetner
Realtor / Broker
PDS Real Estate
801-699-2022
Web Reference: http://pdsrealestate.com
Ann Ryan,
Agent, Doral, FL
You really need to have one or more agents take a walk-through and see what they recommend. Figure out when you can take the trip back to SLC and set up listing appointments with at least three agents. Then you can get a variety of opinions as well as figure out who can best help you sell the home when you're ready. They will also likely know folks in the building trades who can provide good service, and get the job done in a cost-effective way, if repairs are really needed.
Sorry about your situation, in order to get a really good recommendation you should connect with a local experienced Realtor, and give him or her access to the home, in order to figure out on your behalf what would be best. It is very hard for us to tell, because it could be better to sell the property as a tear down, depending on the market in that area, on the other hand if your Realtor will figure out that fixing up the property to sell, you will
most likely not get your money back, but sell the property..... So in other words it truly all depends on the surrounding market, the location, lot size, condition of home, repairs needed in $, and what the home could
potentially sell for, or what the house as is and land could sell for????
A local Realtor will be able to advise you best.
Good Luck to you.... and a Happy 2012
Edith YourRealtor4Life! and Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients... Buyers, Sellers and Investors alike
Edith will go the Xtra Mile with a Smile for her clients.... always
http://www.tinyurl.com/MeetEdithHere
most likely not get your money back, but sell the property..... So in other words it truly all depends on the surrounding market, the location, lot size, condition of home, repairs needed in $, and what the home could
potentially sell for, or what the house as is and land could sell for????
A local Realtor will be able to advise you best.
Good Luck to you.... and a Happy 2012
Edith YourRealtor4Life! and Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients... Buyers, Sellers and Investors alike
Edith will go the Xtra Mile with a Smile for her clients.... always
http://www.tinyurl.com/MeetEdithHere
Web Reference: http://www.tinyurl.com/MeetEdithHere
Paz Ortiz,
Agent, Salt Lake City, UT
Sorry to hear about your husband, my condolences. I may need a bit more information to offer you the best advice possible but you do have some options and you could possibly still do OK on this investment. There are some creative options out there right now and lots of investors looking to partner up with homeowners like yourself.
"Seller Finance Option" You enter into a legal contract and sell the property to an investor or contractor. You require a substantial down payment (10%) and then the contractor will renovate the property and sell it. Once sold they will pay you the rest of the amount and close the transactions. During the renovation period you receive payments including interest. Normally two or three months later you are paid the remaining balance and the transaction is closed. If they cannot sell the property or pay you the remaining balance by the end of the financing period you now have a renovated property, have received a 10% payment in advance and monthly payments.
Renovating it yourself would depend on your financial position, amount of work needed and if it's going to make you more money than selling it outright as is. If your going to go through the effort there should be some reward.
Selling may be the easiest and fastest way to transition from owning this property but if the property needs much work buyers will be wanting a considerable discount so you may be looking at a loss depending on your investment thus far.
I have the same property tax problem for a property I own in Idaho. I'm not an Idaho resident so they double my property taxes. It's still a worthwhile investment because I make enough income on rent to cover expenses and it's a great tax write off because I visit Idaho frequently. If your property taxes have increased recently it's very likely you can challenge them and have them lowered. Property values have decreased for several years now so appealing them should be fairly easy. http://tax.utah.gov/forms/pubs/pub-31.pdf
Contact me anytime!
Paz Ortiz
801 706 5415
"Seller Finance Option" You enter into a legal contract and sell the property to an investor or contractor. You require a substantial down payment (10%) and then the contractor will renovate the property and sell it. Once sold they will pay you the rest of the amount and close the transactions. During the renovation period you receive payments including interest. Normally two or three months later you are paid the remaining balance and the transaction is closed. If they cannot sell the property or pay you the remaining balance by the end of the financing period you now have a renovated property, have received a 10% payment in advance and monthly payments.
Renovating it yourself would depend on your financial position, amount of work needed and if it's going to make you more money than selling it outright as is. If your going to go through the effort there should be some reward.
Selling may be the easiest and fastest way to transition from owning this property but if the property needs much work buyers will be wanting a considerable discount so you may be looking at a loss depending on your investment thus far.
I have the same property tax problem for a property I own in Idaho. I'm not an Idaho resident so they double my property taxes. It's still a worthwhile investment because I make enough income on rent to cover expenses and it's a great tax write off because I visit Idaho frequently. If your property taxes have increased recently it's very likely you can challenge them and have them lowered. Property values have decreased for several years now so appealing them should be fairly easy. http://tax.utah.gov/forms/pubs/pub-31.pdf
Contact me anytime!
Paz Ortiz
801 706 5415
Kristopher Furrow,
Broker, Salt Lake County, UT
Hello & Happy New Year Voyagerbh,
There are a few questions that will change the way I might answer this question, here are a few to start...
1) What is the extent of dis-repair?
2) What is your current equity position?
3) Is the home occupied or rented?
4) Would you consider hiring and paying a general contractor to finish the work before marketing?
5) Have you considered offering the home for sale with a Lease option or Seller Financing?
6) Are you current on the payment, If so are you facing imminent default? If not how far behind are you?
There is a lot that goes into the valuation and marketing a home for sale in today's volatile market.
As far as Property Tax relief, there may be some short term options available. Maybe it is best to explore liquidating the asset altogether?
Please feel free to call me anytime to get information more specific to your needs.
Kristopher Furrow, REALTOR
-Associate Broker, CRS, ePRO
Windermere Real Estate - UTAH
Salt Lake City and Park City
2348 South Foothill Drive
Salt Lake City Utah, 84109
Direct: 801.999.8679
Office: 801.485.3151
Fax: 801.485.3152
Email: Kris@NOWShowingUTAH.com
There are a few questions that will change the way I might answer this question, here are a few to start...
1) What is the extent of dis-repair?
2) What is your current equity position?
3) Is the home occupied or rented?
4) Would you consider hiring and paying a general contractor to finish the work before marketing?
5) Have you considered offering the home for sale with a Lease option or Seller Financing?
6) Are you current on the payment, If so are you facing imminent default? If not how far behind are you?
There is a lot that goes into the valuation and marketing a home for sale in today's volatile market.
As far as Property Tax relief, there may be some short term options available. Maybe it is best to explore liquidating the asset altogether?
Please feel free to call me anytime to get information more specific to your needs.
Kristopher Furrow, REALTOR
-Associate Broker, CRS, ePRO
Windermere Real Estate - UTAH
Salt Lake City and Park City
2348 South Foothill Drive
Salt Lake City Utah, 84109
Direct: 801.999.8679
Office: 801.485.3151
Fax: 801.485.3152
Email: Kris@NOWShowingUTAH.com
Web Reference: http://www.NOWShowingUTAH.com
