I have a home in philadelphia. i just moved from phila to new york. I want to sell it but the value of the

Asked by Mohammed Samsuzzaman, New York, NY Mon May 26, 2008

home is lower than the mortgage amount. i dont want to rent it and i am not behind on mortgage yet. what is the best option?

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Jeremy S. Hi…, , Cherry Hill, NJ
Mon May 26, 2008
Hello,

First you will need to know whats the true market value of the home.- 2nd you if you are upside down you may choose to bring the difference to the table. The other option is to negoiate a short sale with the bank. You will need to make a strong case for why they should allow a short sale. Feel free to call me anytime toll free to discuss further. 1-888-818-0957. I can speak with you in detail about the process.
1 vote
Chris & Step…, Agent, Philadelphia, PA
Tue May 27, 2008
It is a tough market out there, especially in these types of circumstances. It will be imperative for you to choose the right agent to market and advertise your property to get it sold.

One good option that others have not mentioned would be the possibility of doing a short sale where your bank agrees to accept less than what it is owed on the property. 19111 has a lot of inventory so if you cannot clear title (sell the property for more than what is owed plus real estate closing costs) than looking into a short sale may not be a bad idea.

Feel free to contact me via email at thesomersteam@yahoo.com - would be glad to looking into your situation to see what is the best strategy for you. Also, please visit our website below for more helpful hints and to learn more about us.

Chris Somers
RE/MAX Affiliates
Web Reference:  http://www.thesomersteam.com
0 votes
Ashok 'Shooo…, Agent, New York, NY
Tue May 27, 2008
All of the prveious answers are correct. You first need to find out the true value of the property. Have you considered doing an OWNER FINANCED deal? If you get the right person, it is a win-win for all. I own several properties which I bought this way and I have no regrets!
Web Reference:  http://www.shoookie.com
0 votes
Robert Worth…, , 19033
Mon May 26, 2008
Renting it can cause more headache than it may be worth. You may be undermining your homes value. Get a true sale value by calling me to assist you @ (610)534-5525 X119. I can help guide you through and find the true value of your home. Don't e fooled by the media myth of the dead real estate market!
0 votes
Fred Glick, Agent, Mountain View, CA
Mon May 26, 2008
It depends on the property. I am great with getting the most for a property. With staging, updating and proper marketing both on and offline, you may be able to sell it, get even and move on. Call me and let's chat. I will run comps for free and take the listing at a discount because you found me on Trulia! Fred Glick 215-852-4469
Web Reference:  http://fredglick.com
0 votes
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