"If you want to sell your current home, but have little or no equity, you may have to come up with tens of thousands of dollars at the closing table to satisfy your loan. Or you could become an "accidental landlord" and rent out the house until the real estate market improves.
You'd have to deal with the expense and hassle of being a landlord, but may not need as much upfront cash, says Michael Baytoff, a real estate agent with Weichert Realtors in Bedminster, N.J.
Renting out a property could be a good deal for some owners, but they have to know what they're getting into, he says. "People should think carefully before they make a decision about selling at a loss or becoming a landlord, because either choice can be costly," Baytoff says.
Here are six reality checks before deciding whether to rent out your home..."
Read more: 6 reality checks for accidental landlords http://www.bankrate.com/finance/real-estate/6-reality-checks-for-accidental-landlords-1.aspx#ixzz1IqEcLm00
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When it's time to buy or sell real estate in Greenville, SC you need to work with a realtor who is honest, trustworthy, and knows the market. Dave Edwards - Greenville, SC Realtor - makes a strong effort to keep up with Greenville, SC market trends by analyzing market information on a daily basis. Who do you know that needs to sell? Contact us today at 864.275.7250.
Based on sales by GGAR members and CRS data.
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