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Need to Relocate and Can’t Sell Your House?
Thursday, August 8, 2013
So you need to relocate to a new area and have been unable to sell your current home? First be sure that your pricing is
right. Work with a professional to be sure you are asking for a realistic price for your home. You do not want to be priced out of your local market and you want a price that will allow you to sell your home quickly.Look at current listings and recent sales prices on comparable homes in the immediate area. Are you pricing your home in comparison to homes that have had extensive updates? Make sure your home is clean, minor repairs are made and afresh coat of paint. This can go a long way to helping you sell your home.
If your location is still in a market slump you may need to realize that the price that you can sell your home for is likely going to be less than you would like, and possibly less than you paid for the home. If you are not able to afford selling your home for less than what you owe there are some options
Plan for the worst and have realistic expectations. Some areas are still affected by slow market conditions, foreclosures and short sales in their neighborhood. Be realistic before rushing into purchasing another home before your current home has sold.You may need to rent for a year or two in your new location and wait it out until the market where you are selling your home improves.
Another option is for part of the family to stay behind until your home sells. This this may be difficult, but makes it easier to keep the house in good condition for showings, and saves you the increased costs of insuring an empty home.
It may not be possible to sell your home within the desired time-frame or for the price that you would like, but accepting that and making your decisions accordingly can help you reach the best financial outcome for your situation.
If your situation requires you and your entire family to move together quickly, another option is contacting a we buy houses or sell my home quickly investor. Investors typically do not pay full market price for homes, however this option does cut down considerably on the time and expense that can be involved with selling your home due to relocation.