Well, today I was called by a potential seller to come and see his house and to list it.
These folks bought this property in 2005 for a high price. I have run the comps and find that the property will not sell for what the sellers have paid for it. That makes this hard. I do not like to go to a potential seller and tell them that they can not get out of the property what they have put into it.
WE will see. I will let you know what happens..
Hi Ginger! Best of luck with this one--this is a tough call. Going short-sale could be an option if they're struggling financially as well.
It is a conversation we have to have all the time. Upside down is not a fun place to be. As Debe says, short sale is one option if they can't bring $$ to the closing. Renting the house out is another if they have to move. Good luck - motivation to sell will probably be the deciding factor.
Dick and Dixie Sells
Morning Ginger, They probably already know pretty much what you are going to tell them. It is what it is !
Ginger-- Boy- these are hard times for past clients. But I still wonder how the decrease in price goes up against the money they had (key wor word HAD) in the stock market. I mention this in these situations.
Ginger --- Like Debe said -- this may a short-sale possibility --- unfortunately, in the Charleston area, we have been seeing a lot of this.
I know...I am workingona short sale now. It is hard to bring them to closing.
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