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Need to sell quick!

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BigDaddy1115

Guest
What is the name of your state? Alabama

I need help quick! I need to sell my house due to a transfer in my job. I have called a couple of real estate investors to see if they would buy it. One asked me about it and then asked how much I was asking for it. I told him (it was about $5,000 more than what we owe but about $8,000 less than what the other homes sell for around here). I did this so I would have room to come down if necessary. He asked me what I owe and I told him. He wants to know if I will take payoff. What should I do? If I sell it on the market I could make around a $10,000 profit. But, I don't have time and can not make payments on this while it sits on the market and pay for a place when I transfer. Please help! Thanks in advance.
 


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deuteronomy65

Guest
another option

You could offer a Realator the extra commission, or you could find someone to do a "lease w/ the option to buy". If you don't want to handle the details yourself, you can look for an investor that does "sandwich leases". My husband and I (Texas) could possibly help, or you can look for someone in your area.

The benifits are that your house payments are made while it's being sold. And usually all of the maintenance is taken care of for you. Not to mention, you can usually sell your house closer to retail than if you were just trying to 'dump it fast' at a low price.

Let me know if your interested.
 

HomeGuru

Senior Member
Re: another option

deuteronomy65 said:
You could offer a Realator the extra commission, or you could find someone to do a "lease w/ the option to buy". If you don't want to handle the details yourself, you can look for an investor that does "sandwich leases". My husband and I (Texas) could possibly help, or you can look for someone in your area.

The benifits are that your house payments are made while it's being sold. And usually all of the maintenance is taken care of for you. Not to mention, you can usually sell your house closer to retail than if you were just trying to 'dump it fast' at a low price.

Let me know if your interested.
**A: I do not agree with the lease option method for this writer's circumstances.
 

JR333

Junior Member
Why do you feel sandwich lease is bad idea

Why do you feel it isn't a good idea?

It seems that having your payments and repairs guaranteed by an investor, plus cash at closing would be better than making payments on a vacant home. They could end up losing everything.

When would a sandwich lease be a good idea for a seller?
 

nextwife

Senior Member
Out of state property management is a nightmare. I don't recommend lease option. Plus it locks up the property. What if the tenant defaults, or bails out?

Get it on the market, really priced "right" AND offer a BONUS commission to any broker getting it sold and closed within X days.
 

HomeGuru

Senior Member
JR333 said:
Why do you feel it isn't a good idea?

It seems that having your payments and repairs guaranteed by an investor, plus cash at closing would be better than making payments on a vacant home. They could end up losing everything.

When would a sandwich lease be a good idea for a seller?

**A: for the mere fact that a lease option is not a sale. I do not have time to discuss this issue with those that do not understand the difference between a lease option and an installment sale.
 

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