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Answers (4)
- Maria Morton, "MariaMorton"
- Contributions:716
First of all, Zillow estimates are a great place to start but they are often not enough to properly price a home for sale on the open market. You are probably on Zillow because you want to avoid Realtors but a Realtor is who would be able to evaluate your home, tell you what it might sell for today, how long it might take to sell, go over your mortgage info, help you figure out where and when you want/need to move and then see if there is a way for you to do what you want to do. Maybe you can get what you want; maybe you can get what you need; the only way to know for sure is to get a professional opinion.
When selecting your realtor, beware of the ones who try to buy your listing by offering a discounted commission or telling you what you want to hear instead of what you need to hear. You need someone who will tell you the truth.
When selecting your realtor, beware of the ones who try to buy your listing by offering a discounted commission or telling you what you want to hear instead of what you need to hear. You need someone who will tell you the truth.
- wetdawgs
- Contributions:26833
VERA: Read the good neighbor policy and stop the spam. Your violations are being reported to the moderators.
- Jason Bonas, "Jason Bonas"
- Contributions:214
you will only be able to short sell if you can prove hardship... So unless you are having financial difficulty you won't be able to get an approved short sale. which also as said by vera could hamper your ability to buy.
Next thing is are you in a position to buy another property while renting out the current? Lenders are not making it as difficult and since you owe more than it is worth it may more difficult to get a loan for a second home also.
Next thing is are you in a position to buy another property while renting out the current? Lenders are not making it as difficult and since you owe more than it is worth it may more difficult to get a loan for a second home also.
- Vera Brodsky, "Vera Brodsky"
- Contributions:98
Hello! Well there are really not many options at this point if you NEED to sell: You can go with a short sale, but it will bring your credit history down and you will not be able to buy much after that. Here is my suggestion - if you had the house for over 5 yrs the new tax credit allows you to get $6500 from IRS if you buy till 04/30. AND, you can rent your current house. You can also bring cash to closing to make up the difference, but I would HIGHLY recommend renting instead of selling if you can. You get the tax write off, and with current projections the prices should start going up, you will make money on 2 houses (knock on wood! ). Call me if you need help! You can find more info about me on http://www.linkedin.com/in/verabrodsky. My website is http://verabrodsky.com/. Call or text me at 206 412 7792. talk to you soon!
Vera
vera@verabrodsky.com
I want to sell my current home and buy another one. But the value of my house is less than owed?
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