Hi. The largest obstacle to selling will be the increased monthly payment for the flood insurance (assuming that insurance carriers will insure it). As monthly payment is made up of principal, interest, taxes and insurance many will tell you that you have to come down on your price in order to make up for the increased risk and expense of flood insurance. There are alternatives. In many instances it could be cheaper to pay for a couple years of the buyer's flood insurance premium, or pay "points" for the buyers loan, making their loan cheaper and the flood insurance more affordable. If you would like to discuss further, please give us a call. Coldwell Banker Bullard Realty 770-477-6400... more
Like with most questions concerning real property, Yvonne, the answer is usually...it depends. It depends on how much you paid for it, and how much you can net after selling, paying off the existing mortgage and closing. Good Luck!
We grew up on the south side, Mita. Feel free to email or call to see if I might be able to assist you. Good Luck!
You have already answer one question and that was did you seek short sale as an option? You may want to offer, a home warranty with the sale of the home? Do you have the home listed at market value? Are you upside down on your loan? Are you in Henry county or Clayton?... more