Was your home actually listed on the MLS and marketed by a quality Realtor, or did you do for sale by owner. If it was on the MLS and you had no activity, the house is overpriced for it's condition. I've noticed that tenants are good at deterring showings to. Tenants often decline showing requests if the showing or tell agents they didn't know about a showing when they come to the door.
I'd recommend reviewing the price, the showing condition of the property, the marketing methods, and try again. I haven't heard of anyone making more by selling at auction.... more
I know this is an old question but it is always best to let someone ,like a real estate agent ,help you through this process. We are in contact or can get in contact with them , Trulia , or you as a potential repeat customer would be welcome to talk to them. The number is 785) 336-5419â€. For any other folks who have a question just shoot it back to my profile or on here.... more
TI; there are options available for homeowners in distressed situations. The LAST thing one would want to do is have a foreclosure go on their credit record. It sounds like you were exploring all your options, which is the prudent thing to do. Loss Mitigatation/Restructuring and Short Sales are all possible options. The important thing that you should do is keep your property in good shape. If and when you put it on the market, the better shape the home is in, the more likely to command a better price/terms when an offer comes in. I am a Certified Distressed Property Expert and work in the Leavenworth/Lansing area. If you would like to discuss the options available to you, please give me a call. Mike... more
I've been at this for about 20 years and I have to agree with your Realtor. Will you recover your expenditure? I think the more accurate way to phrase it is, how much will the buyer want to discount for the mismatched floor? Even if they don't mind it that much they will probably want to use it as a bargaining point. As for a flooring allowance, I don't recommend it. I had a listing with very dated carpet and the seller wanted to give an allowance. I got a bid to replace the carpet and put it in with my brochures advertising an allowance. Showings but no offers. Finally the seller just replaced the carpet with a neutral color throughout and the house was under contract within two weeks. Most buyers don't want to move in and do work. Those who do want to be substantially rewarded for their efforts. Hope that helps.... more