How to sell a house without money?
MeaghanThere are so many options for first time homebuyers to pay no money down when purchasing a house. Well what about first time home sellers? I am a recently divorced with three children. My ex has been without a job for 8 months and therefore the only income coming into the home is mine. I have been able to maintain all the major expenses for over a year. But with insurance cost rising and my employers recent freeze on pay increases, I just do not know how much longer I will be able to do this. I am afraid of foreclosure and I am afraid to be in the house without utilities. Refinancing would not be an option because my current rate is 5.625. So how do I sell it without any money. I have only been in the home for 2 years, so I do not expect a profit and hope I will not incur a loss. I would just like to break even. But how? What about repairs, closing costs, etc. HELP ME!
Lashandramake fees contingent upon the sell of the home...an agent will work with you on this.Sell the house as is...no repair.Problem is you might be upside-down on your payments and might owe money right now.
FeYou need to meet with a Realtor and go over the potential closing costs. You may find you don't have enough equity to cover all of the expenses. In that case have the buyer pay some of the expenses the seller normally pays. That wouldn't include commission - that's your responsibility.realtor.sailor