Skip to main content

Use my Realtor or Sell to Opendoor /Investor

This is my first time posting so bear with me please.

Background:

I need to sell my home. My home was built in September 2021. My subdivision is still building out. Due to higher interest rates and the buyer pool drying up the builder is already building/selling new homes $50,000 cheaper thus undercutting current homeowner’s equity and potential profit. Consequently , I am expecting to sell at a loss.To be clear, I have already made peace with losing money. I just need enough to start over somewhere else and I don’t want to be stuck where I am when the market crashes because when I tried selling my old home during the 2008 crash I ended up being stuck for 10 years because I was underwater and the buyer pool practically dried up. That situation taught me that peace of mind and flexibility are more valuable than money. So, would it make sense to use a realtor to sell my home or would other alternatives like Opendoor or Easyknock possibly work? I also feel that my chances of getting a 3-6 month lease back would be better with an ibuyer or investor. Flexibility, a leaseback and just making enough to live a simpler life and start again is what matters most to me.

Additional info:

I’m in Texas Paid : $325,000 Owe: $277,000 2022 county appraisal: $312,000

I do not expect to pay capital gains tax if I sell at a loss I’m hoping to use whatever money I get out to buy a small piece of land, used mobile home or a fixer upper that I can work on over several months before I move in.

Thank you

submitted by /u/eggsandbacony_1
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/11zlei3/use_my_realtor_or_sell_to_opendoor_investor/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/
Post a Comment
Read more

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...
Post a Comment
Read more