[5-DayForum] 5-day sale in Charlotte

[FKSYBARITE at cs.com]

Galina,
I know what you mean about the people that are already giving your property a 
hard time.  Especially when you've put your blood sweat and tears into it, 
and they start nit picking on some minor thing.  Well, just keep trying to sell 
it.  Maybe Craigslist? Are you in any kind of position to offer any creative 
financing?  Sometimes that will bring a higher price, if you can carry them for 
a year or two while they get credit glitches taken care of.  Of course be 
super careful there also, you don't need your wonderful house trashed if they 
can't complete the sale later.  I'd get at least 15K down if you are in that kind 
of position.  You can do what's called a "wrap" on your mortgage -- you carry 
a loan, which "wraps" your underlying loan.  Then, you are at least paying 
off your loan and making interest on your money as though it were in the bank.  
Check with some title companies and see who does them, some do and some don't. 
You have a balloon payment in 2 years and then it pays off your underlying 
loan then.  Lease options are a way to go, but you should still get the high 
down payment, because they essentially give the buyer ownership rights -- and the 
need to foreclose instead of evict them.  That takes months instead of weeks, 
so be careful.  
Hope all goes well eventually.
Frank
In a message dated 11/14/2007 2:53:58 PM Pacific Standard Time, 
galkag at yahoo.com writes: 
> Frank,
> 
>  I had 2 buyers who bid upper 180,000, the rest stopped below 160,000. 
> 
> The highest bidder admitted that she does understand that my house worth 
> more than she can afford.
> 
>  The second highest bidder in contrary tried to underestimate the value of 
> my home. He asked if I have plumbing problems, electrical problems, flood 
> problems and so on. I showed him inspection report. He was the person who asked 
> me if it¢s vinyl flooring pointing to the ceramic tile . I don¢t consider him 
> a real buyer. Honestly I don¢t like him personally and don¢t feel comfortable 
> to sell him home even for $210,000.
> 
>  Galina
> 
> 
> 
> 
   
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