Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 17 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Jeremy Sharff
  • Homeowner
  • MI
0
Votes |
3
Posts

I'm the short seller...

Jeremy Sharff
  • Homeowner
  • MI
Posted

Most of the posts I'm reading are about people trying to buy short sells, so perhaps this is an opportunity for someone out there. But, I'm on the other end.

There are lots of foreclosures in the area so comparable houses can be bought for $60K-$80K. I owe $150K. Priced to sell, I should be able to get $130K, so basically, I'm looking at bringing $10K-$20K to the table. My hardship is that I'm taking a leave from working full time to intern. I graduate in December. At that point, I'll probably move (for hopefully a new job) to another state. Since I'm moving - I have to sell now. Since I'm losing my job, I'm pre-emptively trying to avoid defaulting on the loan. To date, I'm paid in full and on time, all the time. My property is in Royal Oak, MI - just outside of Detroit.

To add another wrinkle, I'm getting married in a month, so I'd like to file the paperwork beforehand. The house is in my name alone.

Any help would be much appreciated. Offers are more appreciated! :lol:

Loading replies...