Keep trying to sell or lease to buy option???? (foreclosures, leasing)

[bunny1234]

Trying to sell house for 6 months now with no luck. There are a lot of foreclousures and new houses that have been priced cut to sell. My question is should we lease or house with the option to buy so so we can move on. My husband has a new job and has relocted already. This option would allow us to move with him.????????

[Pcola110]

Originally Posted by bunny1234

Trying to sell house for 6 months now with no luck. There are a lot of foreclousures and new houses that have been priced cut to sell. My question is should we lease or house with the option to buy so so we can move on. My husband has a new job and has relocted already. This option would allow us to move with him.????????

That is one of the options you can take but do realize the person leasing your home has the option to not exercise the lease option if the home does not appraise at the price they're willing to purchase it at in the future if the addendum is added on the contract. Then you'll still be juggling two mortgages. My advise take a lost (lower the price to your lowest) on the house if you can afford too. Get some feedback from your agent and see what was stirring potential buyers away. Good luck though!

[bunny1234]

We have not had much neg. feedback. Just didnt like location or neiborhood. Our reltor says its the forclousures in our nhood are selling first. I hope that since they will be gone soon other houses will start selling. As for price we are coming out of pocket 15000 already. I dont think we can lower anymore. Thanks for advise

[atlantagreg30127]

Originally Posted by bunny1234

We have not had much neg. feedback. Just didnt like location or neiborhood. Our reltor says its the forclousures in our nhood are selling first. I hope that since they will be gone soon other houses will start selling. As for price we are coming out of pocket 15000 already. I dont think we can lower anymore. Thanks for advise

Well, potential buyers not liking the location and neighborhood says something. Is this a higher crime area or intown neighborhood that some call "up and coming" (but which may still look frightening to buyers)? You can't change the location, but sometimes people do buy in the up and coming areas thinking that with fresh paint and landscaping they'll be able to easily resell one day - only to find out that the neighborhood hasn't "come up" quite yet, making it impossible to sell.

The house has to compete with new stuff as well as foreclosures. Spotless clean, fresh paint, no traces of pet hair or kids toys scattered around - SUPER clean bathrooms, mowed grass and neatly trimmed bushes, etc etc. You're competing with a lot. Don't keep dropping the price over and over in small steps - one LARGE price drop has a greater impact.

Renting has a whole slew of problems, and everyone I know who has ever gone that route has horror stories to tell. It's definately a "last resort" thing, and the rent with option to buy crowds usually aren't any better than standard renters. You'll wind up putting $$ into fixing and cleaning each time someone moves out (which can be frequently).

Good luck with it. Oh and um.. there's no need for so many "?????" in your post subject line - folks WILL answer you.

[dproctor]

Originally Posted by bunny1234

Trying to sell house for 6 months now with no luck. There are a lot of foreclousures and new houses that have been priced cut to sell. My question is should we lease or house with the option to buy so so we can move on. My husband has a new job and has relocted already. This option would allow us to move with him.????????

Have you thought about having the home staged?