Very little equity in house, will have to pay mortgage fees and just listed with a realtor.

lwhitefoot

Inspired Forum Member
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Hi, just ran into a friend who needs to sell large house - marriage breakdown, very little equity in house, will have to pay a hefty mortgage cancellation fee, house needs some work. Originally she listed private but has just signed up with a realtor. Has anyone done a quick turn deal with a realtor listed on the house?



Linda Whitefoot

http://www.ownhome4.us/owningmadesimple
 

imteamleader

New Forum Member
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How did this deal work out?



If your still working on it, one suggestion.



If your thinking about a lease option. You can front part of the Realtors commission out of the tenant/buyers option fee, and the rest when the option is activated (on closing).

Course the realtor will only be likely to go for this if the listing is running out, or they have little chance of selling conventionally.
 

mortgageman

New Forum Member
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There is a solution that doesn't require selling the property on the open market. If one of the spouses wishes to buy the other out, and can qualify, they can get a new mortgage for 95 percent loan to value. They need to get a separation agreement showing who is going to be liable for what level of child and alimony support, etc.
 
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