I understand your concern about selling time. Depending on the situation of the buyer, they may allow you to stay in the home after the closing at a cost. There is no way to tell how quickly your home will sell, but it does take 30 - 45 days to complete the loan process for some mortgages. If it sells really quickly and you are not able to remain in the home after the closing, I recommend having options to stay with relatives or somewhere affordable.... more
Yes, you should definitely list your home now. First, it's early spring season so you may not have as much competition as you would if you waited for two months. Secondly, in the best scenario, it usually takes two-three months before a closing takes place and that is with the best scenario, with your securing an accepted offer right away. And since it takes atleast a week or two for your agent to take photos, and market the home, you are well served to start moving forward now.... more
Strongly consider renting. First of all, you are going to throw money away on interest payments. Don't forget to factor in closing costs such as loan origination fees and closing costs that you will have to pay when you sell. Factor maintenance costs, too.
If you hire a listing agent when you go to sell, prepare to pay up to 7%. Property taxes are another consideration. You need to assess your own situation to determine how much not having a mortgage deduction will affect your income taxes. But all things considered, the housing market here would have to improve drastically for you to break even. Ask yourself if you want to take the risk of the house not selling or of ending up with a loss.
No one can offer any assurance that home values in the area will even remain stable, let alone increase. I don't have a product or service to sell; I just want to help others with lessons that we learned the hard way!... more
You can't renegotiate the price without canceling your existing contract. Then you would need to wait until bids are open again and place a new bid. As far as the lien is concerned, if that was missed during the foreclosure there is a legal process to clear the title. That process will most likely take at least a few month to even over a year.... more