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3 years ago
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Sale vs. lease vs. lease purchase.

I had a job relocation from Watkinsville, GA (near Athens, GA) to OH. Kids moved with me, but my husband is still in GA to sell the house. The house has been on the market for 8 months now (first FSBO and now by an realtor). Do we have other options? What are the pros and cons for lease, lease purchase? Do lease and lease purchase involve real estate agents? Will it be harder to sell the house in the future with tenant living in?
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Tim Moore
Tim Moore
Real Estate Professional
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3 years ago
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Let's ask why the house has not sold. Has there been many showings or few? An old rule of thumb in real estate is that if no one comes to see the house, it's over priced. If many come but no offers, they see something they don't like when at the house. Now let's figure out which it is and fix it or adjust the price. If it's over priced there just is no way it's going to sell no matter how much marketing you do for it.

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L.  Wilson
L. Wilson
Real Estate Professional
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3 years ago
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The housing bubble has made it difficult to sell in today's market. There are numerous foreclosures and short sales out there. The current market has also made many homes under water (meaning the value of the home is less than what is owed on the home. However, there are also many creative solutions to help you sell your home quickly. These solutions do not require you to make repairs or adjust your asking price. There are buyers who will buy your home if you are willing to work out a creative solution with them. My company has helped hundreds of homeowners such as yourself sell quickly and without any cost to you.

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J F
Home Seller
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3 years ago
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I was in the same situation, my house did not sell and I had to move.
I hired a Property Management company, rented the house and when real estate market improves, I will sell it.
At least, the mortgage and expenses are covered for now.
You just have to find a good property management company.

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Nancy Verburg
Nancy Verburg
Real Estate Professional
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3 years ago
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Another option to sell it is with seller financing if you're in the position to pay both places if you had to for a short time which you are doing now if you're living in two locations. You would need the help of an attorney to make sure you did it right to protect yourself. With so many people not being able to qualify for a mortgage right now due to credit issues but if they make a good living and have a good down payment they would be a good risk. Worst case you would get the home back and be able to sell it to someone else with another down payment. Some Realtors would not want to help you with this because they didn't understand it or because they may not get paid so you would need to work something out from the down payment the buyer would be bringing to you. I'm sure there are some in your are that would help in this.

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Cathy Hue
Browsing Housing
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1 year ago
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I think in today's times, when buyers are vying for nice properties and most of the sellers are getting attractive offers every day, it is surprising that your property is not attracting any serious buyers. But then the most important aspect when it comes to buying property is location. So I think property can be tried it out through lease purchase route.But some caution need to be observed, agreement should be carefully drafted and make sure your lawyer is present when you are signing on the dotted line.

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Crescent Oaks Apartments
Crescent Oaks Apartments
Rental Housing Professional
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1 year ago
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As i think selling a property is not be a right decision, because its too hard to find best after selling a property.

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