Home Buying in 53527>Question Details

Sarah Bowman, Home Buyer in San Antonio Road, Au...

My family is relocating from Tx to Wi. We will be renting our home instead of selling. Can we ask sellers if they are willing to rent instead of sell?

Asked by Sarah Bowman, San Antonio Road, Austin, TX Wed May 23, 2012

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Bill E’s answer
Before every Realtor in the State of Wisconsin chimes in offering to help you buy this year instead of rent...let me answer your question with candor not usually found on this forum.

Short Answer: Yes, you can ask Sellers if they are willing to rent instead of sell.

Long Answer: Don't bother. You will have to wait in line behind all the people who want to buy. The real estate market pulled a U-turn sometime in March and it is a whole different ballgame now. Multiple offers, bidding wars, short days on market, mobbed open houses, difficulty scheduling inspections and closings, lenders are out of their mind...sort of like 2006.

In real life, anybody with a house to sell is likely buying another house...and needs the equity from the sale for the down payment on the new one, not a stream of rental income for a year.

0 votes Thank Flag Link Wed May 23, 2012
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