I need to sell my home fast

Question

i am not behind on payments because i have been borrowing money from family but cant do it forever.i am in a fixed loan and the payment was not bad until my hours got cut at work. i have my home listed with a Realtor.its been on for 6 weeks now with a couple of showings.but i am afraid it will not sell fast enough. i have it priced for 199,000 and owe about 174,000. when i bought it about 20 months ago it appraised for 220,000. and i have put about 30,000 into the lot and home. i don't care about losing my invested money or equity i just need out before things get bad.i am trying to save my credit.my lender does not want to seem to help me.and i cant really rent it because i would not get enough to cover my payment. plus i will have to get a apartment somewhere. any suggestions?

Answer 1

Hi there,

    One option you might consider to sell your house fast is to sell it to a property investor like myself. We by from all types of individuals who need to sell fast. Some reasons but not limitied to: Decrease in Wages, Loss of Job or Job transfer, Relocating and can't afford to wait until a Realtor sells the house, making more then one mortgage payment, divorce, death in the family, behind on payments, tired of being a landlord, facing foreclosure...First you might want to see if you can have your listing released from your realtor so you don't have to pay their commission. Some realtors understand that if they can't sell your house and you have someone that is willing to buy it they will cancel the contract and let you proceed. Some will not. What we are willing to pay depends on several variables. No we don't pay full retail price as someone who is going to live in the house once they buy it would, that don't make sense. We would be taking the risk of buying the property with not quite knowing how far housing prices will fall still. Times are difficult in real estate, the main problem being buyer's not being able to  get a mortgage. The banks have gone from one extreme of giving money to freely to those that never deserved it in the first place, to not writing mortgages for the ones today who really can handle making the payment.

    "Sell Your House Fast"       "We Buy Houses"

                      800-718-CASH (2274)

Answer 2

If you're not getting much interest, I'm surprised that your realtor hasn't suggested dropping the price.  Does your realtor understand that you need to sell it quickly?  Have you gotten any feedback from the showings of why people weren't interested?  The feedback would help you develop a plan of action.

The only other thing that pops into my mind is all the shows on HGTV about staging houses.  Have you looked into them at all to see if there are any suggestions you could use?  

It's really hard to give any other advice other than dropping your price.

Good luck.

Answer 3

Your lender won't be interested in helping you because he has no reason to. So far, you're making the payments.  If you start missing payments, he'd probably be more interested in helping.

List the house as low as you can, and sell it.  You've still got a little room to wiggle, use it and price the house a s close to $174 as you can.  I know it's harsh, losing all you equity, but you seem to be saying that's all you can do.

Answer 4

It may be possible to refinance, at a lower interest rate. What is your current interest rate?

Answer 5

Craigslist.  any forums on line that you can find.  there are yahoo groups where you can post real estate available.

Print out fliers and post them at any store.  bank lobbies that allow you to post fliers...  GET the house out there.. not just MLS... word of mouth.. friends places of employment.  everyone you talk to should know your house is on the market... NO SHAME In the game.

I once picked up a tenant to lease option my property when my truck broke down in a bed bath and beyond parking lot.   went inside to look around while i waited for the tow truck and got to talking to a sales rep and asked if she needed a place to live.  She didn't but the new manager did...      

GET IT OUT THERE!!!  

Good Luck and start searching on line right now!

Answer 6

    I'm sorry if I am repetitive or telling you something you already know, but here is my 2 cents.

    In this market, the problem with getting a house sold lies in two major areas.  Firstly, the fact that even buyers with decent credit are having difficulty getting loans, and therefore can not purchase property, and secondly, everyone thinks that the sky is falling and is scared to purchase, which has increased the supply of houses on the market.

    With that said, if you want to get your house sold, there are a few things you can try.  

1.  I would need to know a little more about the particulars of your situation, but you may be able to sell it on a rent-to-own basis.  This often gets premium rents (therefore possibly covering all of your payment) and you can set it up so that the tenant takes care of property maintenance.

2.  If you have a reasonable interest rate on your mortgage, you can sell your home "subject to the current mortgage".  With this option, a trustworthy person buys your home and makes the payments on your mortgage in return for the deed to the property.  There can be a lot of pit falls with this method, so you would probably want to make sure you get a lawyers advice before doing this.

3.  Make sure that your home is clean and tidy inside and out, make sure the landscaping is well manicured, the inside paint is fresh and not wild colors (preferably earth-tones) and if you have the funds to update the kitchen and master bath, this is where your dollars are going to be best spent.

4.  Like the previous answer said, if you really just want to move on with life, and don't want the hassle of the above processes, you can sell it to an investor, however we are not able to pay anywhere near retail prices for the most part, but it really does depend on your specific situation.  I am an investor and would be happy to discuss what I can do to help you out.  Visit my site at http://www.readyhousebuyers.com or email me.