Just bought a Condo -- now Relocating to TX (Seattle: sale, to rent)

[angel_rose]

I bought a condo in The Lakes, Kent area about a month ago.. now i got a good job in dallas and going to relocate .. should i rent my condo? if yes, how do i find a good tenant?
if i sell it now, i will lose alot of money..

**also the company is paying to relocate, do they have some incentives towards it that i could ask for?

[Ira500]

If you rent the condo out, how much of your mortgage payment is going to be covered by the rent?
Generally speaking, these days in the Seattle area rents are much less costly than mortgage payments, so it might cost you money every single month to rent it out..And..local prices are dropping, so if you held onto the place for a year and rented it out, not only could it cost you money every month while you're renting it out, you may have to sell it for less than what you could sell it for now.
If you feel confident that the new job is going to work out, and you're happy to cut your ties to the Seattle area, I'd try selling it now and bite the bullet.

[exit82]

**also the company is paying to relocate, do they have some incentives towards it that i could ask for?

I would think that if your company pays your closing costs you would not be out any money-right? I mean how much could a condo go down in one month?

[Ira500]

If I'm not mistaken, home and condo prices are much less in Dallas, so you may end up doing fine. If you can get them to pay closing costs of the sale of your condo here that would help a lot.