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What are my options with my townhouse? Bought at peak, can’t sell, short sale, stuck.

Hello everyone, I really need advice.

I bought a townhome in 2022 during the hype, overbid, and paid \$670k. Since then I’ve been trying to sell, and it’s been a nightmare with agents.

-Agent #1 (2023): A flipper. Instead of looking at comps, he asked(me) what I wanted to list at. Another unit in the community listed for \$710k (bigger/more bedrooms), got showings but no offers. My price kept getting reduced until the listing expired after \6 months. -Agent #2: This guy literally went to jail for a DUI in front of my place while handling my paperwork. Listing was held up on MLS, I eventually got a cancellation. -Agent #3: Dual agent, shady, wasn’t doing his job. I had to report him to the DRE. I signed for 3 months, but he kept the listing for 6. Had to get an attorney involved to get released (Oct 2024).

Fast forward to 2025:

-Mortgage has increased from \$5k → \$5,349, over the years plus HOA (now \$214 when once was $200). -Tried again in April 2025 with Agent #4. She listed for \$650k. We got offers at \$640k–650k, but I owed \$635k and didn’t have money for closing/moving. She countered then listing expired then buyers came back with \$675k after listing expired. She wanted to counter at 679k I said no I felt like she was being greedy I asked her to add an appraisal clause and drop commission to 1.5% because I’d basically break. She refused the clause because she thought it would appraise due to other homesnin the area. However they werent in the community they were blocks away.. We went into escrow anyway, but it didn’t appraise (neighbors’ units sold for \$609k & \$620k). That deal died. Agent #5:Actually staged the property beautifully, lots of walk-throughs, but no offers. Market shifted down, values fell, days on market piled up.

I then tried renting at a loss, but no takers.

Now: I owe \$624k and am about \$35k behind including late fees. The bank told me I need to be 3 months late to do a short sale. I’m 5 months behind, they sent me an acknowledgement letter, but it’s still under review for another 30 days.

To make it worse, some of my recent payments (one \$2,500 for (4) months, then \$10k in August, \$5k in September) went to a “suspense account” instead of my balance. It feels like I’m throwing money away.

Question: What are my real options at this point? Should I push harder for the short sale? Try for a deed in lieu? Bankruptcy? I’ve tried everything and it feels like I’m running in circles. Actually I visited a BK lawyer and he said it wasn't worth it, Since I dont have enough debt.

Any advice from people who’ve been through this (short sale, foreclosure, deed in Lieu, or anything similar) would help a lot.

submitted by /u/Technical_Sun_56
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source https://www.reddit.com/r/RealEstate/comments/1nfuoy1/what_are_my_options_with_my_townhouse_bought_at/
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