Teresa,
I sure hope you get this sorted out quickly, I know this must be a frustrating time for you.
The reason why some investors get paid so well is because they can come up with a variety of solutions that you otherwise may never had thought of that may fit your needs based on the information you provide.
With that said, you have not provided enough information for one to recommend any one solution.
Do you need debt relief or cash for your equity?
Is there any equity? Have you had an appraisal?
Do you need all you equity right away? What is your reason for selling? Is your house vacant? Behind in payments?
Based on your information I can tell you that I bought a home from a missionary couple subject to their existing financing. They just wanted debt relief and sold it for what they owed because they moved into another house and could not afford two payments. They wanted to protect the good credit they had and they were current in payments. Some people would scoff at giving up the equity that they did, but it is what worked for them and felt it was the best alternative for themselves after not succeeding with the traditional Realtor way of selling.
Need creative ideas to sell house! - Posted by Teresa Hacker
Posted by Teresa Hacker on December 10, 2007 at 09:15:06:
Hi. I own a home I no longer can afford. The price has dropped dramatically. I have a realtor who is trying to sell it. I owe 389,000 on it and I do not want to ruin my very good credit that I worked so hard for.
How can I get rid of this house and pay off the mortgage?
I am feeling desparate. I am losing thousands each month and don’t know how much longer I can keep it up. Its wearing me down.
Re: Need creative ideas to sell house! - Posted by del-ohio
Posted by del-ohio on December 15, 2007 at 19:24:51:
We have been using a couple intetresting strageties in the last two month and sold seven properties with it.
Consists of an inexpensive one page website well written, about five hundred flyers printed and distributed in the neighborhood inviting people to an open house, (flyers are inexpensive) and can be distributed by self or friends, you can get a mortgage broker to come to open house to qualify interested people. If you want to spend a little more momey you can throw a sort of party, we have done this with, on st pattys day, with leprecauns and irish fiddlers at each house. brings out a lot of people, if done right. If I cant get a sale this way I within 3 days will list the house with the top SELLING realtor in the area (do mls search) I pay full fees plus offer ann extra 1,000 bonus to the selling realtor. The last three hoses I listed with a Realtor following this strategy all houses had signed sales contracts in less than 10 days.
We are in Ohio with markets as tough as most anywhere else.
Re: Need creative ideas to sell house! - Posted by David Krulac
Posted by David Krulac on December 10, 2007 at 15:38:50:
Price the house as agressively as possible, perhaps even less than debt owed.
Advertise everywhere, web, newspapers, flyers, bandit signs,bulliten boards, etc. etc. etc.
Most lenders won’t consider a short sale unless you’re delinquent, but don’t purposely become deliquent to qualify.
Sometimes it takes reaching in to your pocket or another source of funding to close the deal. It may hurt, but then its over, sort of like pulling a tooth.
Several properties that I bought required the seller to bring cash to settlement, for one reason or another. That’s better than either continueing to feed the neagtive every month or worse yet losing the property to foreclosure.
If you’re looking for creative, stress-free ways to sell your house, check out Comfort Homes. They buy houses as-is in Evansville, so there is no need to fix anything or clean up. It’s a great option if you want cash fast and skip the usual listing headaches.
They’re local and super easy to work with. Worth a look if you want something quick and straightforward!