Hello, I bought a condo in Atlanta several years ago and recently have begun the process of relocating back home. I have picked the worst time in the world to do this apparently :’) The place has been on the market for 2 months with only one showing. My current options in this market are either drop the price to where I would have to bring $7k to closing, rent it out at about a $200-300 loss, or just try and wait it out another year. My partner has already relocated ahead of me, so waiting long enough for the market to bounce back isn’t very feasible, but my job is remote so technically possible. I don’t want to drain my savings just to get this place off my hands and prevent myself from being able to buy again in a couple years, but I’m also terrified about the risks of renting past just the initial monthly loss (tenants not paying, maintenance costs, potential future vacancy). Any thoughts on best way to approach this without making a decision I’ll kick myself for down the line?
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/1oca1zh/sell_condo_at_loss_or_risk_renting/
Comments
Post a Comment