Rent out or sell property
2 Replies
Kayla Browne
posted about 1 year ago
I've been in contact with realtors that have been giving me a 5-6% commission rate. Which leaves us paying $2000-$6000 out of pocket. I'd rather not come out of pocket. But I would also not want to manage a house from across the country. Any advice would be appreciated.
Jon Reed
Rental Property Investor from Springfield, MO
replied about 1 year ago
So... are you saying that your mortgage is currently 95%+ of the total value of the property? So you have to bring money to the closing in order to sell?
Well.. if you don't want to have a rental across the country then you don't really have any other option.
Kayla Browne
replied about 1 year ago
We bought the house without a down payment. The property value increased but with the large commission coming out of the profit, it makes us coming out of pocket.