Sell House Fast

I would talk to your agent about how to market your home a little differently. Like putting notes into the MLS that the sales price includes 3% for seller-paid closing costs or discount points you can pay to lower your buyer’s financing costs. Maybe that will help get someone to take your home sooner?

And you’re right, a short sale would likely affect your credit, though not necessarily if you made a payment arrangement with the bank for any amount that was owed. You’d be stuck with more debt on top of whatever home you purchase next, but if you can afford the payments it would take to do this, you should be able to protect your credit.

Pricing your house a little below market now instead of a month or two from now is the best way to get the house sold. The other houses for sale in your neighborhood are trying to sell for more because the sellers don’t have the time constraints as you do (so they are likely priced higher than they are worth). A below market price will enable you to meet your priority of selling the house quick, and might enable you to pocket a few dollars for the big move. Your lender doesn’t want the house, but if it comes down to you not being able to sell you can give them the “deed in lieu” of foreclosure, but it would still be a black mark on your credit.

As another answerer suggested to have your Realtor market in creative ways isn’t a bad idea, but I don’t believe is proper in this case because in order to offer seller paid closing costs you would have to initially price your house higher. Besides now a days most Realtors advise (or buyers already know) that a buyer can include closing costs in an offer anyway.

AmandaH obviously hasn’t spent any time in the business world to realize that “m” often stands for thousand when referring to quantities of goods, thus your abbreviation is completely understandable.

Usually a bank will not “Buy” a property that it has financing on. selling the home is your responsibility, not the banks. I have been writing loans for 7 years now, and have never heard of it. Some realtors will buy properties they know they can make money on, but there isn’t a lot in the way of equity. Short sales are for people who are behind in their payments, and pending a foreclosure, and the bank has to approve the smaller payment on the short sale anyway. Either sell it or rent it till you can sell it. Good Luck!