Moved Away and Stuck With a Vacant House

[Jim Smit]

My wife and I bought a new-build 3 bed, 2 bath home in Beaufort, SC in late 2024 for about $370k. We had to move sooner than expected for family and work reasons, so we're now trying to either sell or rent the property.

The house is currently listed for sale at $373,900 with 4K buyer concessions and for rent at $2,500/month. It's been on the market for around 100 days with several price reductions and we've only had about 3 showings in the last month. We previously had a buyer under contract, but they had a medical issue and had to back out.

The home is vacant and we're carrying the mortgage, taxes, insurance, PMI, utilities, lawn care, etc. Since we've moved, we're trying to figure out the best move financially.

The sale price results in us losing about 3k at the closing table and we would owe about $500 per month if we rent it at the current price.  

My questions:

• Would you keep reducing the sale price and try to exit now?
• Would you lower the rent and focus on getting a tenant in place?
• Is there anything obvious we're missing that could increase activity?
• Has anyone dealt with a similar situation after relocating unexpectedly?

Appreciate any thoughts or advice from investors who have been through something similar.

https://www.realtor.com/realestateandhomes-detail/158-Baynar...

[Chris Seveney]

What is your agent saying? I'm not an agent. I just did a quick look online, and the pricing of the property did not seem outrageous, but based on the current activity that is low, when that occurs, it is typically price. I would have a conversation with your agent and hear from them as well.