Hi, I am listing my home and now on second term with this real estate agency. We adjusted the price, and there is no complaint on my part as to no showings on first 6 months. The market has been hard on everyone. My questions are related to being able to withdraw from this second contract due to my unique circumstances.
I have a Rural Housing Development loan. I built the house in 2000. I do have to repay subsidy recapture, less appraised value of major landscaping and aluminum screened porch I had built. This has to an addendum to the appraisal for RHD in order for me to receive credit off recature. My agent said the appraiser is working for buyer. I am thinking can I get an appraisal myself and we use that for buyer. 9% is basicaly what the realtors first negotiation for buyer was. That is 6% to realtors and over 3% for closing cost. I am thinkng I should withdraw my house from market as I cannot afford to lose this kind of money. How long would I have to wait till I list FSBO?
to answer your question.. You can actually withdraw your listing at anytime. Just give a termination in writing to the agent.
Alot to do with homes not moving is marketing, you must be VERY aggressive to homes sold quickly in this market. It seems hard to believe no showings in 6 months.
I would be happy to do a FREE cma on your home and you will know what you should be in. Don't pay for an appraisal because even if you put it for sale by owner, the buyers lender will still require another appraisal so it will be wasted money.
Also a fyi, we list and sell for only 4.5% and have a reputation for moving properties fast.
thank you and feel free to give me a call or send me an email
Lisa Revis
Southern Charm Realty Inc
5975 Hwy 152 W
Mooresville, NC 28115
704-856-2551
sold28117@yahoo.com
Selling FSBO might be the best option, but you will have to lower the price maybe since buyers look at FSBO as bargain deals. You can contact an investment company to see what type of offers you can receive.
Laura,
We certainly wish you well with whatever direction you elect to take. However, this may not be the best time to venture into the FSBO marketing experience. Three to four years ago, when the RE market was hot and FSBO's were viewed by buyers as the best elective for savings and value it was relatively easy to sell FSBO.
As everyone known, times have changed, with today's buyers being fully aware of the best options for savings being "short sale" and "foreclosures." The typical FSBO property cannot compete with these prices and as a result buyers, for the most part, have drifted away and are no longer seriously considering FSBO.
This is a tough market...even for professionals. Our recommendation is to consider all options, but this may not be the best time for a novice to venture into troubled waters.
Our best wishes
Although it might be a good idea for you to order an appraisal for yourself, don't even think of using it for the buyer. Many buyers finance their home purchases, and most--if not all--lenders will order their own appraisals (now through a third-party as of the beginning of May).
You're probably not getting any showings, because your house is most likely priced too high. You'll know how high after you get the appraisal. Since you mentioned already that you live in a rural area, then I'd strongly recommend that you reconsider NOT listing your property as a FSBO. Instead of selling your property as a FSBO, you might consider selling it with seller financing. This way you'll be able to sell for a slightly higher price, but you still will have to price your home according to its CURRENT market value.
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