Feedback please about selling my house or renting it
Hello, everyone and thank you up front for your feedback. I'm new to BP and want to get started on building my real estate portfolio. I want to get into Multi-families, but before I do I need to sell my current residence and move out of state. Actually, I already moved and need to sell my previous residence and that's what brings me to the forums to ask for some guidance.
My situation is that i'm trying to sell my house, which has been on the Market for a month. It's located in Odenton, MD. I'm asking 304,500 and dropped the price from 320K. Its a end unit, 3/2.5, 3 lvl TH with a garage, deck and fenced in backyard. There have been some upgrades, like the roof, paint, kitchen appliances etc.
Now what gives me concern is that my realtor has a wait for the right buyer to come along strategy. Now this is different from our initial meeting and his take was that the house would sell and at 320K. The particulars of that price was 3% buyers help from me. Price was dropped and the 3% help has been taken off the table. After over 20 viewing the first one that comes in is someone who is using NACA, will buy at the asking price, but wants the 3% buyers assistance.
After the number are run, I pay 30K in closing costs and help and receive 30K. Is this an offer I should consider? Also, does the seller pay the whole 6% realtor commission?
I'm thinking about renting, but I'd only clear 100 - 150 a month, but I would have 60K in equity. If pulled out the equity, then the rent wouldn't cover the mortgage.
So if you were me, what would you do?
On another note, I think I need to have a strategy meeting with my realtor to find out why my house doesn't have more interest and after 20 viewings only 1 person has submitted an offer. Is that something, I should do or get another realtor?
Thanks again for any advice given on this matter.