Home Selling in 78261>Question Details

Stuart, Home Seller in San Antonio, TX

my wife and i are relocating.

Asked by Stuart, San Antonio, TX Sat Jul 19, 2008

we can't afford to keep the house after we move. What are our options to have the house sold before we move.

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Answers

15
Stuart,
You can definitely rent the house to help you with your mortgage. Be sure and get a good tenant though.
0 votes Thank Flag Link Thu Nov 15, 2012
You could always make the purchase of another home contingent upon the sale of your old house. Have you had someone show you the value of your home as a rental property? I rent my house for $400 more than I pay for it so anyone could afford to keep it. There are several tax advantages to this strategy which depend upon how long you have owned the home. Take a look at my website if you want more information in North San Antonio.
0 votes Thank Flag Link Sat Oct 13, 2012
Stuart,

No matter what you decide, I'd love it if you reported back...would love to know how it all goes for you. Good luck.
0 votes Thank Flag Link Mon Jul 21, 2008
I think you need to consider what would cost you less. When leasing you have to consider all your out of pocket expenses suchs proprety management fees, property taxes, home repairs, insurance, etc. When selling consider your actual profit. In a normal market condition you would have some equity and can subtract the cost of selling your home from your capital gain tax liability such as your realtor's commission).
do you have any equity and what is the balance on your mortage loan? What is the acitvity os sellers and buyer's in your area? Can you ask your neighbor's or ex/co workers to promte your the selling or leasing of your home? A Realtor can help you weight all your options.
Let us know, what you decided and how it works outs for you.
Victoria
0 votes Thank Flag Link Sun Jul 20, 2008
I recently listed and sold 20811 Viola Park , Summit at Bulverde Creek in 8 days. There are a lot of military people coming in now to work at Fort Sam and BAMSE. I would listed with an experienced Realtor who has a proven marketing plan. Try selling first, rental is always a possibility. You can also listed it for rent and for sale at the same time with a company like mine that would allow you to do that. Hope everything will work out for you and feel free to give me a call. All my best. Estela
0 votes Thank Flag Link Sun Jul 20, 2008
A good property manager will do the hard work for you. Finding renters, making sure you comply with the various laws regarding leasing, and handling maintainance issues while you are away from TX. I don't deal in property management myself as it is a whole other ball game from buying and selling.

Some things I would suggest you look for in a property manager - experience, number of properties managed, and most importantly, how comfortable do you feel with them. Since you will be in OH you want to be sure you and your family feel like you're in good hands.

A fellow agent in my office is a great property manager (in my opinion) and I would galdly pass on his info to you so you could investigate further.

(Please know that I am not offering this referral to him for any sort of compensation, as this I would do for him as a friend and someone who has helped guide me in my career. I value what he does for me on a regular basis and although we all love referrals, this is one I would make as a Realtor who values him as an agent.)

Good luck again and if there's anything else, please feel free to ask.
0 votes Thank Flag Link Sun Jul 20, 2008
Thanks everyone for the insights. We have been in the home since 2006. And the market concerns me.

If we consider leasing the home, what will a property manager do for us? Leasing sounds like a good route. But again the concern is how do we find someone to lease the home...considering the competition with apartments.

Oh, our home is in Bulverde Village for those that have so kindly responded.

Thank you for all the advise.
0 votes Thank Flag Link Sun Jul 20, 2008
Stuart,

At this point, you probably need to list sooner rather than later. On average, it takes close to 120 days to sell a house. Some sell faster, some slower, some not at all. Everyone is right, in that the most important factor to make an immediate impact in the demand for your home is pricing.

While renting it out isn't your first choice, it is still a viable option, and better than potentially losing it to foreclosure, short sale, etc. Often, I have clients that try to sell, but if they don't get sufficient bites on the house, they end up leasing.

The important part for you, if you want to lease, is to have an adequate property manager to manage the property while you're gone. This is an ongoing expense, but will provide tremendous peace of mind, and with a new baby, peace of mind is priceless. Even if you're at a small loss each month, it may be more affordable than other possibilities.

Give me a call, 210 521 0068, and I'll give you a no cost consultation in greater detail on what your options are, what I can do to help you, and what to expect from the process. Or, if you prefer, email me at stevemalinoff@aol.com.

Best of Luck

There are other things to consider if you are going to sell. How long have you lived in the house? how much do you owe? how do homes in your area sell?
0 votes Thank Flag Link Sat Jul 19, 2008
Pricing is the biggest factor in getting your home sold. You need to work with a realtor that is very experienced in your area. I would recommend talking to 3 different ones to get the best idea on pricing. If you need help finding an experienced realtor, I know some great ones in your area and would be happy to have a few call you. Let me know if I can help further.
Kindly,
MaLisa
0 votes Thank Flag Link Sat Jul 19, 2008
Stuart,

So it sounds like you'd rather get this home sold sooner rather than later. I think your best bet is to price it very competitively, offer any sort of incentive you feel comfortable with, and find yourself an agent who you think can help you market the house effectively in order to effect the quickest sale. I would gladly speak to you further about this.

One other note to help prepare yourself - call your mortgage company and get your current loan payoff so that you know how (exactly) you owe, this will help the agent and you come up with a list price that will both meet your financial and timeframe goals.

Good luck with the new baby and your move to OH.

Matt

Contact info is on my website (below) if you wish to speak more about this.
0 votes Thank Flag Link Sat Jul 19, 2008
Congratulations on your new born... I have a 1and 1/2 year old myself...There are people whom you could have manage your property should you decide to rent...I have a few names & numbers if you need them...call me @210-430-2055....Good Luck
0 votes Thank Flag Link Sat Jul 19, 2008
We are moving back to OH to be closer to family since we just had a baby. No family here in TX and we did not anticipate this after the baby's arrival. I have a few job leads and anticipate an offer from one soon so once that happens we will be put in a situation to sell. We have not considered leasing as just have fears that being away from TX after the move would know how to manage the tenant.
0 votes Thank Flag Link Sat Jul 19, 2008
Have you consider leasing your home? That could be your best option.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat Jul 19, 2008
Stuart,
Matt gave some real good advice...What's your time frame for selling/moving?? Are there a lot of homes for sale in your neighborhood?? If not, you might want to talk to your neighbors & perhaps provide them with a flyer in reference to. Many times your neighbors may have friends or family who might want o live closer to them...Buyer & agent incentives would go along way in addition to a fair market price...Good Luck.
0 votes Thank Flag Link Sat Jul 19, 2008
Stuart,

Your best bet would be to list the house at the best fair market price. Make sure the home is clean, staged well, and looks great for potential buyers. Make any repairs necessary before listing it. Find an agent willing to work hard to market your property and expose it to the greatest number of potential buyers. If you're able - buyer incentives can help too (help with closing costs, allowances, etc.). You need to look around your neighborhood (and your agent should do this for you) and know what's out there and what you can do to stand out in the crowd. What kind of time frame are you looking at?

Good luck! Please report back, I'd love to know what you do and how it works out for you!

Matt
0 votes Thank Flag Link Sat Jul 19, 2008
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