Profile picture for elaine.brown7025

I owe $28,000.00 on my Well Fargo loan. my house needs repair and i do not want to invest in fixing

I need a realtor who will work with me on starting the process of selling my house.  I just want to paid off the mortgage and move on to Georgia. If you are a realtor in Riverdale, Il or the surrounding suburban area respond to my question and leave a number and i will call you. Again I want to sell my house "as is" and for the paid off of the mortgage of $28,000.00.

  • June 03 2012 - Riverdale
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Answers (6)

Profile picture for elaine.brown7025

Thank you Rob,  You would be perfect for me in my situation to handle my housing transition for me to move forward in my future plans.  I know my house is worth more than the paid off price of $28,000.00 but i was concern about getting the market value for it because of the repaired (bathroom needs updating, garage is worn down, side porch need replacing, basement top panel aneed to be replaced, painting, etc., etc. My house just need a investor or buyer who want to put the money and work in updating it to their taste.  I have lived in this house for 19 years and if I had not been down size last july 2012 I wouldnot be thinking of selling my house when i was so close to owning it.  My decision to sell is that my mother lives in Georgia and is 86 years and her leg are artirithic and i want go and help her at her home. I live in Riverdale, Il 60827 local.  Again Thank you Rob  P.S.  Anyone reading Rob post in reply to my question if this fit you and you looking for a nice rehab property to live in and update leave a post.  I need an agent with Rob suggestions to help me sell my house leave a post too.

  • June 04 2012
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user6212947,

I run into this a lot as well with clients buying homes of people in similar situations.

As I don't know your local market in Riverdale, I'm not able to advise you on the real estate piece but I can offer some advice from the other side of the transaction.  Many times my clients are seeking homes like yours, homes that can be obtained at a good price that need work so they're not fighting with ten other people on a beautifully rehabbed home.  For a great number of buyers out there, your house would be very attractive, you just need to find the right agent who can market it properly.

Buyers using rehab financing will likely be your ideal client as they can make your non-updated house "their" updated house.  I strongly advise bringing this suggestion up to your agent (I may even know them and could give you feedback on what I know about them since I'm local also).

On a side note, I noticed just now you owe about the market value, is that market un-rehabbed and being compared to foreclosures or a home in average condition with standard sales?  It's possible your home, rehabbed could be worth significantly more, only a Realtor will be able to answer this for you.

You could also do the same on your purchase in Georgia.
  • June 04 2012
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Profile picture for elaine.brown7025
Yes i want to sell my home - No I owe market value (the loan balance is 28,000.00) - No I am not walking away without paying.  I will stay in my home until i paid it off or it get sold off.  
  • June 03 2012
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Profile picture for wetdawgs
Okay, I'm still not understanding completely.  I do understand that you want to move and I do understand you don't want to do any repairs.

Do you wish to sell the house?

Do you owe more than market value of the house?

Did you just want to walk away and forget about it?  



  • June 03 2012
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Profile picture for elaine.brown7025
No, The balance on the loan I owe is $28,000.00 and the house need repair and i do not want to fix the repair because i want to move to Georgia.
  • June 03 2012
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Profile picture for wetdawgs
What do you wish to do?   Do you owe more on your house than the current market value?   Do you wish to sell the home?

  • June 03 2012
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