Well, kind of. You'd have to bring the difference with you to the closing. You could get a personal loan for the difference, prior to the sale, and then show up with the cash. Recognize, though, that it'll be a lot more than $6,000. If you use a real estate agent, there will be commissions. The buyers may require you to help pay their closing costs. There might be repairs needed to the house. Allow, at a minimum, another $6,000-$8,000. So, with your scenario, you'd have to borrow $12,000 or more and then pay that out at closing. It certainly can be done.
You can check with your Realtor for a better estimate of the expenses you're likely to incur.
Not sure, but to be of the safe side add a clause to the contract allowing you to break the contract if "seller is able to obtain funding to bring the current mortgage current". You can even wait to add it during the negotiation process.
You need to speak to a Realtor who has successfully navigated the short sale market and knows how to get the job done. Everything you do from this point needs to be made "subject to Lien Holder Approval". Best of luck to you!... more
In the St Louis market area, a home must be off the market at least 61 days before the days on market reset to zero. That is totally off the market and out of the MARIS computer, not just in temporarily withdrawn, etc. It does not matter if you change realtors, withdraw the listing early from a realtor, relist with the same realtor, let the listing expire, etc - if the home is not taken out of the computer system for at least 61 days, the days on market will continue to count... more
No that is held private to the realtors community UNLESS the listing agent determine show you results. You can also see who in the area are big listing agents, with yard signs and etc.
http://www.lynn911.com http://www.homes-for-sale-dallas.com... more
The market in Pleasant Hollow is sluggish. Since the beginning of the year, houses that are listed are more likely to fail to sell (expire) than to sell. There currently is more than 6 months of inventory on the market, meaning that if properties continue to sell at a rate of 3 per month, it will take more than 6 months for the market to be sold out of the current inventory.
Ranch homes are selling for an average of $111,227 with an average of 120 days on the market (for those that sell. Days on market is much longer if you factor in all the homes that are still currently for sale and those that tried to sell but failed.)
Split foyer homes in the past 6 months have sold for an average sales price of $107,500, with an average of 168 days on the market.
If you are looking to purchase, this is all good news. You will have 23 homes to choose from in Pleasant Hollow. If you are not currently working with an agent, I would be glad to get more information for you.
Good luck.... more
Well MAM, it really depends on the condition of the foreclosure(s) and the number of foreclosures in your neighborhood or area. In many cases, foreclosures do bring down surrounding home values. However, if you are really only talking about one foreclosure in the neighborhood, it may not affect you as much as a neighborhood that has 5 or 6 foreclosures.
With the media hype about the sluggish real estate market, buyers are being very critical of pricing and stagging. It is highly recommended that you stage your home as though it were a builder's model and that your price takes your current competition into account, not just sold comparables.
It may be a good idea to have your agent run an absorption rate analysis for you to see exactly how you fit in the market. The aborption rate analysis will show you exactly how many homes in your price range are selling per month. If three a month are selling, you know that your home but be in the top 3 that month. Sounds simple enough, right? Where it becomes difficult is when you have 20, 30 or more homes on the market within your price range. Many times, your home is more likely to sell if you were to lower the price. You may be able to better compete with a lower price range...and lower price ranges usually sees a higher rate of sales.
Even in our market where 20% of our sales are foreclosures, many of the homes that are in showcase condition and competively priced, still see multiple offers. If you are in a "buyer's market" like most of the country, it is not time to test the market with price. It is time to price it right and get it sold!... more