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Looking for a Real Estate Agent that can help!

Here's my situation: I have a property located in zip code 90501. Built in 1951, This property has 4 bed, 3 bath, loft area, living room, dining area, kitchen with marble counters, 2 fireplaces, 2,200 sq.ft., lot 6,760. Purchased for $425,000. Zillow estimate is $444,800. My mortgage is $396,000 / 6.125% rate. I can't afford to refi due to financial hardship. I havnt refinanced since then and I am planning on moving. I am currently renting out the property to help ease my financial situation. I want to sell the property fast! I want to put the property on the market, however, Im not looking for any financial gain from this property other than to get it off my belt. I originanlly bought this property as an investment, but I ran into other situations which I needed to concentrate on. Due to my financial situation, I can offer very little in enticing buyers who want to negotiate closing costs and other fees. I can negotiate in home inspections and appraisals needed for the sale. Is there someone that can heelp or offer advice? I do have renters and hope to keep them there until the property sells if possible.
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October 19 2011 - Torrance
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It has been a while, but if you still need a local expert I can help. I located in Torrance and familiar with your area. I would love to have a change to interview and talk to you in person. I can do a free CMA (market report).  Please contact me by clicking on my profile.
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March 17 2012
DEar Qfilanut98,
Well, you need a good agent to help you get this property sold and with terms you can handle. You need some statistics about similar homes in the area as well. I encourage you to speak to a local agent for the best guidance.
The fastest way to sell a property is to price it low. It's all about price in this market, because you are competing against foreclosure and short-sale homes.
 In the listing you can specify that you will not cover the additional expenses. IF the house is priced low enough, you will sell it.
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October 23 2011
Hello,

Looks like you have already received some great advice.  I would also suggest you interview a few agents and have them run a comparative market analysis on your property.  From there you will have a good idea of the possible sales price and if it works for you.  
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October 20 2011
Hello,

Yes, the Zillow figure is only an estimate.  It is advisable to consult with an experienced, full-time agent in your area.  Ask the agent for a realistic selling price, based on most recent sales of comparable properties.  Once the property is on the market, it may develop into a short sale; in that case,  the agent will need to submit any offers to your current lender.
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October 20 2011
Mr. Seller, 

My suggestion would be to interview a couple good agents to determine the true value of your home. Zillow's Zestimates should only be used as a rough estimates.

Get a clear picture of cost associated with sale to determine if there will be a profit left over when it's all said and done. If you find your self in the red and are set on selling, you could possibly be facing a short-sale situation in which case there will be no surplus. 

Definitely worth exploring, information is key when making these tough decisions. 
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October 19 2011
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If you consider a short sale you need to get tax and legal advice to make sure you understand all your options. An agent can help you sell, but they should not be advising you on the legal, credit and tax implications of short sale. You need to get the best information you can before you go down that road.
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October 19 2011
Hello,

My name is Sharon Sanchez and I specialize in Short Sales and helping people who are having difficulty making their house payments.  You can contact me for a confidential consultation.  My service is Free to you. Your lender will pay my commission.  Thank you.
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October 19 2011
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I think that before you move you should look into whether you are eligible for a HARP refi. If your credit is decent and you do not owe more than 125%, you could lower your interest rate by over two points. You would need to owner occupy the property, but if you qualify it might be worth doing for a short period of time. Many banks will even roll the cost of the refi into the new HARP loan or some lenders will even do it for free.

I did not need a refi, but asked my bank if I could save on my rate. I did HARP on my house. My loan to value was good, I was not underwater or in financial distress. My lender did not require an appraisal, they sent me a packet at home and I dropped my rate/payment in 45 days. It was easy and the difference in the rate I pay on the new loan now goes to principal every month. Can't save money any faster than that. 

Selling is an option, but you need to ask a local agent what your odds are of actually doing that in this market. To pay commission and expenses you might have to bring money to the table depending on what you can sell for. I hear that you want to sell, but if the house does not sell, a refi of 2 points on that purchase amount would significantly lighten your monthly financial load. There is a refi calculator here that might help you run numbers.
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October 19 2011
 
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