Posted by Nate on November 02, 2000 at 09:54:52:
If they are not willing to do any creative financing, maybe they would be better off conveying the house to someone (you?) who is willing and able to do so. Since you are family there should be no problem with trust…
How to Sell a Huse Fast - Posted by Dalisha
Posted by Dalisha on November 02, 2000 at 09:29:10:
I need help.
Well actually, my in-laws need help!
Here is the situation.
My brother in-law is in the service and he was recently
relocated out of state for the next five years. He has been trying to sell his home for almost a year. They have listed it with several local real estate agencies, but non can seem to get the job done. How can they get this house sold and get out of paying two mortgages? I told them they should be a little more open to creative financing, but they aren’t. They don’t want to do any land contracts or
renting, etc … because they rented the house in the past and it didn’t work out. They want to sell and walk away free and clear. What can they do to get this house to sell fast?
Sellers always want cash and to walk away clear - Posted by Bud Branstetter
Posted by Bud Branstetter on November 02, 2000 at 19:22:09:
Your inlaws need help for them to realize what their mindset is going to cost them. They had a bad experience in the past and equate that to anything other than walking away free and clear. A good investor could explain to them how they can avoid all the problems they think might happen while getting the lions share of their equity. It is a matter of education. Ignorance is costly. Not trying to be to harsh but you might try clicking on Gatten’s banner.
Re: How to Sell a House Fast - Posted by dewCO
Posted by dewCO on November 02, 2000 at 15:22:11:
Yes, if they’ve ruled out terms/creative, then it price. Got to lower it. Agents don’t like to do that, because it either makes a liar out of them, and/or cuts their commission down. But too bad. Get it done with price.
Re: How to Sell a Huse Fast - Posted by JPiper
Posted by JPiper on November 02, 2000 at 11:59:07:
Selling a house fast is a question of price and/or terms. Since they have ruled out terms, that leaves price. There’s a price that any property will sell out quickly…they just haven’t found that price yet. Lower the price.
JPiper
They have a choice. - Posted by Mark-NC
Posted by Mark-NC on November 02, 2000 at 10:45:00:
Dalisha,
In a perfect world the house would sell for them and they would be done with it. Unfortunatley it hasn’t, so now they have to make a choice. They can continue to throw money into this burdensome mortgage payment or they can solve their problem, the choice is theirs.
They do have a few choices, although they may not like them, they will solve their problem. Maybe you could educate them from information from this site or find a local investor that could help them.
The way I see it A couple choices come to mind.
The first being the simplest, is reduce the price for a quick sale.
The second one, would be to lease option it to an experianced investor in your area. One that will make sure that everything is taken care of. This will relieve them of their burden and they may not have to take such a discount when the L/O is excercised as apposed to a discounted cash sale.
If you are still in the area maybe you could lease it from them and sublease it out. This may or maynot be a good idea seeing that you are a relative.
There are other ways to help out, but at this point it doesn’t sound like they are motivated enough yet to propose them.
Good luck, let us know how you make out!
Mark
Re: How to Sell a House Fast , oops typo!! - Posted by Dalisha
Posted by Dalisha on November 02, 2000 at 09:33:19:
I really do know how to spell house! LOL