Switching agents isn't necessarily the answer. I don't know what market conditions are like in your area but that might be part of the issue. It sounds like it's time for a frank discussion with your agent. Ask your agent for his or her honest opinion - are there things you could do to make your house more marketable? Should you consider reducing your price? Ask for updates on market activity for properties similar to yours. How long are properties on the market before they sell? What properties have sold since yours has been listed? Ask your agent for input as to how those properties differed from yours?
Good luck with your sale. It can be a crazy making process. When you get to the other side - with an offer and then a sale - you feel so much better. In the meantime - hang in there!... more
The situation will not get any clearing in the years to come:
You seem petrified to make a decision; yet, when you do, you will be right and you will be wrong.
You sound like you are contemplating selling becuase you want to move UP, into a larger or better house. You didn't mention Job-Relocation, retirement, or Moving to another State.
If you are Moving Up; your present house will continue to appreciate, and so will your next house; but if the next house is better and more expensive, then it will probably be going up more and faster.
Talk to a Realtor and relax:
It is one of the three most stressful things that could happen in your life; just go for it!... more
It is a serious matter for a seller to default on a real estate contract. If you read your contract, it will address your legal options. You should contact a real estate attorney to advise you on what actions may be the legal recourse for your specific situation. As a real estate agent, I would be glad to help with some names and numbers.... more
Great question DonnaD. Yes contact a knowledgeable and reputable Realtor and Mortgage representative. The lender will tell you exact steps to qualify for the type of home you seek. The agent can email or send you listings in the area's you want in your price-range. That way you are kept informed as to what's happening in your local market. I would not suggest viewing properties before you are financially able to purchase. The reason being if you find a home you love and there is no way for you to purchase it; you might become very discouraged. That defeats the purpose in my opinion.
Best of luck and contact these people now , rates are under 4% for 30 year mortgages currently.
If your mom needs a home asap, maybe she should consider just renting something. Owner financing & rent--to-own situations can be difficult to find, and rarely work out for either party (buyer or seller). Maybe it's different where you live.
Most of the time there's a reason why the buyer is looking for "rent to own" -- because they can't qualify for regular financing. If they have poor credit, high debt, poor income/job history, etc. then a seller who gives that person a chance is going to charge a premium for taking on that risk -- higher rent payment.
I tell people to just rent for now, work on your credit score, pay down your debts, save for downpayment, and hopefully in 6-12 months you'll be able to buy something. Good luck!... more
Drake20, this will depend on the other homes in the neighborhood. It sounds like you have done quite a bit and, providing the comps you referred to are similar to yours, you may be able to recoup your money in a several years. Check with a local realtor to get a more accurate picture of how your home compares to others around you. We need to see inside and out of your home before being able to accurately compare it to the recently Sold, Pending, Active, etc. listings.... more