Vacant house woes

[Guest]

Lower the price. Horrible thing to tell you……but if it is cheap enough it

will sell. I am retired Real Estate Broker. You have to have an edge and in

this buyer’s market the only edge that will really work is lower price.

If you end up in foreclosure or lose the house to fire with no insurance, your

loss will be very great … so perhaps to cut your losses, take a loss on the

house.

The other thing is to sell it on your own, and lower the price. Caution here

though, you need a good mortgage insurance company to work with to do the

closing. It is much cheaper than a percentage that you would pay out to the

realtor.

Also what are you paying the realtor in percentages for selling it and depending

on how long a contract you signed, you may renegotiate the percentage of realtor

fees. They “charge” so much but they can charge less very often, plus they

need the money to make the sale. IF your percentage is already low, it is

counter advisable to lower that though. Are you in multiple listing? Where all

kinds of realtors can sell the home? What does your contract look like? In a

multiple listing you have hundreds of sales people working on selling your home.

Perhaps your realtor would reduce the percentage of fees and you can lower your

price. That would help if you can do this…

You can shop insurance companies by calling independent insurance brokers.

Check your yellow pages, ask agents and see what you can find. The thing is,

most insurance companies see an empty house as an invitation to trouble and

financial loss. These houses are often broken into. Try other ins

agencies…. there must be one that will insure it even if for a short

time…….

As for foreclosure, a bank and your credit, will view that worse than a

bankruptcy. dash

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Original Message
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From: Susan

To: Budget101_@yahoogroups.com

Sent: Wednesday, July 30, 2008 8:34 PM

Subject: Budget101.com : Re: Vacant house woes

— In Budget101_@yahoogroups.com, “nowurcooking75”

wrote:

>Hi.

I really don’t have a lot of advice to offer, but to just say I

feel your pain. We moved almost a year ago and our house has been

on the market.

[Author]

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