Results 1 to 10 of 10

Thread: Any Real Estate people here?

  1. #1

    Default Any Real Estate people here?

    I'm looking to sell my home.
    I owe a Mortgage but feel my equity (hopefully) will make a me a fair return and possibly enable me to purchase another place I'm looking at in the country and get closer to out of debt.
    I have never sold a place before so if anyone can help me
    what are the steps to do this by owner with consideration of the owed mortgage?
    There is only a first mortgage with warranty deed.
    Last edited by Dieseler; 06-30-2008 at 10:43 AM.
    Pandora's box is not only open but its sides have been split with a razor and it now resides in a dumpster.



  2. Remove this section of ads by registering.
  3. #2

    Default

    Terrible market in most places, terrible.

    There ARE people who want to buy but lending standards are now TOUGH, also its compounded by the number of people who get approved for financing but cannot sell their homes for the value needed to close!

    If you have a hot place and you mark it down enough the cash heavy deal hunters may pick it up. You'd need to market it as such if you want to sell it fast.

  4. #3

    Default

    Quote Originally Posted by jd603 View Post
    Terrible market in most places, terrible.

    There ARE people who want to buy but lending standards are now TOUGH, also its compounded by the number of people who get approved for financing but cannot sell their homes for the value needed to close!

    If you have a hot place and you mark it down enough the cash heavy deal hunters may pick it up. You'd need to market it as such if you want to sell it fast.
    Its a pretty good area but the rural is becoming a bit to city urban like for me. I believe it will sell pretty easily ( Much sought after school district, services and such) but my biggest question is the steps I need to take as far as selling goes with my mortgage company.

    Ok, I've done a little Google research and all I have found are examples of people with upside down mortgages and home equity loans(2nd mortgage) situations.
    From what I have read from those examples is both debts must be settled at closing or no sell period. That leaves me to believe that I can sell as long as I settle my first (and only) mortgage at closing.
    I really want to avoid a realtor and calling to talk to my mortgage holder until I find the info I need about selling.
    Any ideas on how to get the ball rolling please help, thanks.
    Last edited by Dieseler; 06-30-2008 at 11:08 AM.
    Pandora's box is not only open but its sides have been split with a razor and it now resides in a dumpster.

  5. #4

    Default

    Bump for help please.
    Pandora's box is not only open but its sides have been split with a razor and it now resides in a dumpster.

  6. #5

    Default

    This chick does real estate and is a huge RP supporter:
    http://www.facebook.com/home.php#/pr...php?id=4702701
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  7. #6

    Default

    Well, the mantra buy low sell high suggests that you keep them both for a time and sell the old when the market improves. Good stuff buying in a buyers' market like this one and selling in a sellers' market if you can. Not that I could make two mortgage payments myself, though. Is the rental market any good? Could you lease the old place out for a year or two?
    Quote Originally Posted by Douglas Adams
    'An SEP is something we can't see, or don't see, or our brain doesn't let us see, because we think that it's somebody else's problem. Thatís what SEP means. Somebody Elseís Problem. The brain just edits it out, it's like a blind spot.'
    This government is Not Somebody Else's Problem

  8. #7

    Default

    Ironically I was planning to rent my house out and get a second too.. I already have a tenant lined up for my first home, I believe the rental market is strong, but be careful, could take 6 months to evict if the person doesn't pay you!!

  9. #8

    Default

    Quote Originally Posted by jd603 View Post
    Ironically I was planning to rent my house out and get a second too.. I already have a tenant lined up for my first home, I believe the rental market is strong, but be careful, could take 6 months to evict if the person doesn't pay you!!
    90 days I believe is when you can have an officer go into the home and use some force. Request payment or throw em out.

    How did you handle the background check on your upcoming tenant? Did an apartment head hunter help you out? I'm thinking of doing the exact same thing. Must you first prove to the bank you are renting already before they lend you money for a 2nd mortgage on a new house?

    Any and all info you've got I'm curious about.

  10. #9

    Default

    I am a licensed agent in the state of Texas. Every area is different.

    If you are looking to sell by owner, then I would recommend you do lots of googling and research.

    If it were me and I had plenty of equity built up then I would just hire an experienced agent that knows the local market. I could refer you to a great agent in my company if you decide you want to pay someone to sell it. I work for Coldwell Banker and they have over 3700 offices worldwide. Send me a pm for more info.

    Whatever you decide, best of luck to you.

  11. #10

    Default

    I have to say I saw it coming. I sold mine in 2005 to get out of debt.
    I contacted several online investors and offered it at below market. I got two nibbles and a bite.
    They sent an inspector/apraiser and we signed papers a week later.
    It would depend on your situation, whether this is a good option for you.
    For me it was. The value was more than I owed. Even marking it down for quick sale, I was able to pay off my mortgage and buy my farm outright.
    Though the market has gone down, it may still be a possible option.
    Liberty is lost through complacency and a subservient mindset. When we accept or even welcome automobile checkpoints, random searches, mandatory identification cards, and paramilitary police in our streets, we have lost a vital part of our American heritage. America was born of protest, revolution, and mistrust of government. Subservient societies neither maintain nor deserve freedom for long.
    Ron Paul 2004

    Registered Ron Paul supporter # 2202
    It's all about Freedom






Similar Threads

  1. Where would you buy real estate?
    By Dianne in forum Personal Prosperity
    Replies: 21
    Last Post: 05-14-2013, 04:11 PM
  2. Economic: Real Estate
    By TIMB0B in forum Ron Paul: On the Issues
    Replies: 0
    Last Post: 02-22-2011, 11:41 PM
  3. Hypo Real Estate take over
    By Sarge in forum Economy & Markets
    Replies: 3
    Last Post: 04-09-2009, 12:09 PM
  4. Real Estate Downfall
    By UnReconstructed in forum Economy & Markets
    Replies: 0
    Last Post: 11-24-2008, 08:59 PM
  5. *If* we get the Real Estate Industry behind us we'll win
    By project100cars in forum California
    Replies: 4
    Last Post: 01-28-2008, 08:32 PM

Select a tag for more discussion on that topic

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •