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Old 07-27-2007, 07:38 AM
 
4 posts, read 15,643 times
Reputation: 11

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Im in bit of a situation that I need to sell my house fast. My husband has accepted a position out of state and we need to move ASAP. We have a mortgage and dont have time to stay in Iowa to sell the home. With home prices the way they are right now, Im afraid we'll only get out of the home what we owe (which Im perfectly fine with). Therefore, hiring a realtor would only make us go further in debt. We've thought about letting the bank take it back just to get out of it, but I know that will make our credit worse than what it already is. Does anyone have any suggestions on how to get out of this mess? Thanks for any input.

msgibby
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Old 07-27-2007, 08:08 AM
 
3,376 posts, read 12,360,892 times
Reputation: 765
For heaven's sake, don't let your house be repo-ed by the bank!

Let your husband move, you stay in Iowa to sell the home. Put it for sale at about $10,000 over the very lowest you can take. Advertise big. Watch all the HDTV shows for info Seriously, those are the best. After 2 weeks, start lowering the price and get feedback from people who saw the house and didn't like it. I think you've already realized that you might be taking a hit here, so just plan for it.
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Old 07-27-2007, 08:18 AM
 
4 posts, read 15,643 times
Reputation: 11
Thanks PearlBob..
Do you think that a FSBO is the best option then? I just know that Ive got to get moved as well to start looking for employment. Im just at my wits ends with the stress this causing us. Do they allow advertising homes on here? Thats one way I guess to get the word out on selling my home!

I love watching all those HGTV shows by the way! Ive gotten tons of ideas. Even utilized some of them. Thanks again for your advise.

msgibby
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Old 07-27-2007, 08:40 AM
 
3,376 posts, read 12,360,892 times
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There is a certain place on here that does allow you to advertise themselves, and houses. I will have to look into that.

I don't know if FSBO is the best...if you had a ton of time to wait, I think it would be fine. Today's market is horrible though, and it would be pretty rought to try and do it alone with no experience, no knowledge, etc. Not sure where you are, but housing sales are way down all over the country. It is impossible to sell FSBO, or even with a realtor, if you are not there. Your best bet is to stay behind for a while. I think selling the house is much more important that looking for work. You can apply for jobs from Iowa, but you can't sell a house in Iowa from another state.
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Old 07-27-2007, 09:14 AM
 
4 posts, read 15,643 times
Reputation: 11
Im in Des Moines. I'll contact a Realtor today! I think I'll go with Next Generation because they only charge a flat fee of $3500 or something like, which is tons cheaper than 7% other Realtors charge. I appreciate your helping me out here. That black cloud still hangs over this situation but Im starting to see some "sunlight".
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Old 07-27-2007, 09:19 AM
 
3,376 posts, read 12,360,892 times
Reputation: 765
Definitely read up on it; I'm no expert in any sense of the word! Lots of people do FSBO, but if you are needing to sell quick, it might be best to leave it to the professionals. You could always try it yourself for 2 weeks, so what interest you have, then go to a realtor.
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Old 07-30-2007, 12:33 AM
 
Location: California
510 posts, read 3,058,337 times
Reputation: 383
You can skimp on an agent selling your house, but you will be giving up something with that.

You can look into services like "Help u Sell" or something similar. There are a few ways that people discover your house is for sale. The two main ways are through thier own realtor telling them about the house, or searching their local newspaper internet site, or a similar site.

First, regarding realtors that bring a buyer to you. They are paid a commission that is set by the seller. The Help U Sell company, or similar can break this down. This means you would need to have your house on an MLS (multiple listing service) in order for most agents to know your house exists. In addition, the commission you offer them often plays a part on if they show your house to their buying clients. While giving up 3-4% to the buyers agent may cost you money, it's much more likely to get you a buyer faster.

The Help U Sell type companies typically charge .5% - 1%, or a flat fee. They basically list your house on MLS, and help advise you. Some may help with your contract preperations as well.

I think the biggest key to deciding on offering a buyers agent commission really has to do with your house. Now before you answer this, detach yourself personally. Is your house unique? Is it much better than the houses in the area? Is your neighborhood considered great? If so are there very few houses for sale in your neighborhood?

I guess what I am getting at, is really make a solid analysis of why someone would want your house. If it's on the higher end of the desirability spectrum it's probably worth trying to sell it without the commissions.

If it's common to the area, with a lot of similar competition then you may want to consider the commission to the buyer's agent, and if you don't get the success you want, you could consider your own agent.

Hope this helps...
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Old 12-11-2007, 11:00 AM
 
6 posts, read 9,491 times
Reputation: 16
Default Look into contacting Des Moines Home Buyers, LLC...

If you are in the Des Moines metro area, they may buy your house. The website is desmoineshomebuyers.net: des moines home buyer,des moines home buyers,des moines house buyer,des moines house buyers,i buy homes des moines,we buy houses des moines,des moines real estate investors,des moines real estate buyer.
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Old 12-12-2007, 01:26 PM
 
7 posts, read 32,675 times
Reputation: 13
I've sold by owner & w/an agent in the past two years & both worked out fine ( of course you keep more $ by selling yourself, but it might take longer.) I just talked to our previous listing agent who's very successful in C. Rapids real estate & she says the market is very strong right now for selling. Good luck.
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