First list it with a local Realtor who knows your area and the values in your community. Once they meet with you and the price is determined and the other particulars for your home are clear, the agent will list your home. Find an agent who is tech savvy, has Realtor.com 'enhanced service' and a system like ListHub that will automatically post your home on dozens of websites and search engines. This type of exposure is critical in this market and real estate climate to have the most favorable results in the marketing and sale of your home.
Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
Hello Matt, Probably like yourself I have seen BPO really cause havoc on an otherwise straight forward short sale. I like to meet them and give them comps as well as point out things that make a difference to the homes value. The dangerous thing to do is let them in all on there own. It really is rolling the dice.... more
I'm so sorry you are underwater on your home. A lot of homeowners are in this situation right now. Here are some possible options for you:
1. Contact an investor to see if they are interested in buying your house. Believe it or not, there are investors out there willing to buy underwater properties with owner financing.
2. Rent out your house. The rental market is very hot right now and rents are high and days on market are low.
3. Come to closing with money-If you in a position to bring money to closing and you don't want to rent out the house, then this may be an option.
4. Short Sale-This is where you sell your house for less than what you owe. However if you are current on your payments, you will need to get your banks permission to do a short sale first. If you have a VA loan you can do a short sale while being current and purchase a new home again right away. A short sale isn't always your best option. If you want to talk about please call me.
Thank you, Brismom. Thank you for stating the best reason to live in an HOA community.
That is, indeed, a terrific suggestion from Sandy Kinslow. You might just have to find the next creative couple who will feel welcome next to your neighbor. I also enjoyed the candy corn story from Gerard Carney. No question, there is a difference of perspective that exists. Some people call them junked cars and some call them "yard art" in rural areas. It might take longer to sell, but hang in there.
A suggestion for getting the cleanup going and keeping it that way is what I will call "beer diplomacy." You can use brownie diplomacy, too. But, I bet it's the man of the house who handles this chore. Invest in a six-pack and take to the neighbor. Sprinkled with a few pleases, you can illicit some sympathy and maybe cooperation. I hesitate to call the city.
I can identify with Sandy, and I even have my own story about a neighbor and his 24-hour power saw "hobby." That neighbor had even asked me to tell them if all the noise was bothering me. When I did, they were taken aback. Boy did it turn frosty from that direction.
In terms of repayment requirements, they refer to net gain. Several of the closing costs on the front end can be added to the original sales price to reduce net profit at sale. But, if you want to pay nothing back, you should seek out the advice of a tax expert or accountant that can advise you on specifics of what your total cost was at purchase (purchase price plus applicable closing costs that may be included) and compare this to sales price (contracted price minus acceptable fees and payments) to determine the end number that will most affect the net proceeds.
As a former Veteran that spent 2 years at Bragg in the 90's, I wish you the best of Luck!!
Darrell D. Drouillard
Home Team of America
16719 Huebner Rd., Bldg 4
San Antonio, Texas 78248
If it is an FHA loan, then there are no penalties for missing the appraisal. If it is not an FHA loan, then I would sign the extension and continue on unless you know for a fact that the buyer is dragging their feet.
Chances are the buyers are excited about the home and working to provide the lender with all the information they can in a timely manner. Banks tend to drag their feet as do appraisal companies. Neither of these are the buyer's fault and your quickest way to settle the home is still with your existing contract.... more
Renting it out might not even be an option depending on what your HOA rules and bylaws are. You might have to apply for a "permit" to rent it out depending on where your HOA stands and if they are close to losing FHA approval.
Condos in Colorado Springs have been hit so hard with foreclosures and REOs that in order to compete you have to sell at a much lower price. Unfortunately no one is going to pay more than any regular buyer is going to in any area.
Contact someone direclty to discuss your specific situation. You might have several options available to you. We do offer a free of charge consultation to help people figure out where the stand and what options they might have.
There was a time when the people working for banks were bankers who spent their working lives in the banking business and learned the business from others who had spent there lives in the banking business.
The "Financial Advisor" in the branch of my local bank just graduated from college. He is totally lacking in experience and the last person I would trust my financial future too.
The "Loss Mitgator" you are dealing with on your short sale could have been the assistant manager of a Red Lobster restaurant only a month ago. He barely knows the real meaning of some of the terminology he is using and is pretty clueless about laws. As for Government Programs and their rules the bank has committed too, his attitude might be so sue us if you don't like doing the short sale on my terms.
The bottom line is that no one should do a short sale without "smart" legal representation. Unfortunately, doing a short sale it is often a game of intimidation.... more