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Negative Home Equity, The Cost Of Putting Life On Hold
So, you need to sell your house?  Okay, maybe you don't NEED to sell, but maybe you want  to sell.  For whatever reason, you're selling - because of a job opportunity resulting in relocation, a divorce, a lifestyle change, your retiring or perhaps getting remarried.  But, wait.  What happens if you owe the bank more than what a buyer is willing to pay?  Do you wait to sell?  Why put your life on hold and be miserable? 
To sell, do you NEED to get X number of dollars just to break even on what you owe the lender? 
Of course if you sell below the loan amount, you'll have to pay your lender out of pocket at closing.  It's called negative equity.  Even if you aren't in a negative equity situation, you still need to pay the fees and expenses associated with selling your house.  So, you're crunching the numbers and things just aren't adding up.  It looks like you will not have proceeds left from the sale to pay the expenses associated with selling (transfer tax, broker & attorney fees).  You might not even break even.  Now what? 
Go ahead, apply pressure.  Just tell your Realtor you NEED X number of dollars - and, to work his or her magic.  But, your Realtor is telling you that a ... more

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