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thetreble

Selling your home in a tough market and quickly after you bought it...

By thetreble in Canada

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Flames9_RN Grand Master

Flames9_RN   358

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As long as they get their $$$ they are happy!

Canadians Visiting the USA while undergoing the visa process, my free advice:

1) Always tell the TRUTH. never lie to the POE officer

2) Be confident in ur replies

3) keep ur response short and to the point, don't tell ur life story!!

4) look the POE officer in the eye when speaking to them. They are looking for people lieing and have been trained to find them!

5) Pack light! No job resumes with you

6) Bring ties to Canada (letter from employer when ur expected back at work, lease, etc etc)

7) Always be polite, being rude isn't going to get ya anywhere, and could make things worse!!

8) Have a plan in case u do get denied (be polite) It wont harm ur visa application if ur denied,that is if ur polite and didn't lie! Refer to #1

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thetreble Experienced

thetreble   19

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So it wouldn't be considered a short sale?

"...My hair's mostly wind,

My eyes filled with grit

My skin's white then brown

My lips chapped and split

I've lain on the prairie and heard grasses sigh

I've stared at the vast open bowl of the sky

I've seen all the castles and faces in clouds

My home is the prairie and for that I am proud…

If You're not from the Prairie, you can't know my soul

You don't know our blizzards; you've not fought our cold

You can't know my mind, nor ever my heart

Unless deep within you there's somehow a part…

A part of these things that I've said that I know,

The wind, sky and earth, the storms and the snow.

Best say that you have - and then we'll be one,

For we will have shared that same blazing sun." - David Bouchard

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Flames9_RN Grand Master

Flames9_RN   358

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No clue to be honest!

Canadians Visiting the USA while undergoing the visa process, my free advice:

1) Always tell the TRUTH. never lie to the POE officer

2) Be confident in ur replies

3) keep ur response short and to the point, don't tell ur life story!!

4) look the POE officer in the eye when speaking to them. They are looking for people lieing and have been trained to find them!

5) Pack light! No job resumes with you

6) Bring ties to Canada (letter from employer when ur expected back at work, lease, etc etc)

7) Always be polite, being rude isn't going to get ya anywhere, and could make things worse!!

8) Have a plan in case u do get denied (be polite) It wont harm ur visa application if ur denied,that is if ur polite and didn't lie! Refer to #1

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trailmix Grand Master

trailmix   77

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So it wouldn't be considered a short sale?

It depends. A short sale is where the house is listed for less than the amount owing to the bank - first the bank has to actually approve that sale price - if they do, then it gets sold and the mortgage is settled for less than it is worth.

I really don't think it will come to that because it's usually just a way to stave off a foreclosure.

That said, who knows what you can negotiate with a lender. I mean let's say the shortfall from sale was $10,000 - they may agree to offer you an unsecured line of credit or something to pay that off.

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thetreble Experienced

thetreble   19

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Thats definitely something we'd be interested in, although we could come up with almost all of it on our own I'm sure. Do you suggest we contact the lender now before we put it up for sale? Or would we do that after we put it up for sale?

"...My hair's mostly wind,

My eyes filled with grit

My skin's white then brown

My lips chapped and split

I've lain on the prairie and heard grasses sigh

I've stared at the vast open bowl of the sky

I've seen all the castles and faces in clouds

My home is the prairie and for that I am proud…

If You're not from the Prairie, you can't know my soul

You don't know our blizzards; you've not fought our cold

You can't know my mind, nor ever my heart

Unless deep within you there's somehow a part…

A part of these things that I've said that I know,

The wind, sky and earth, the storms and the snow.

Best say that you have - and then we'll be one,

For we will have shared that same blazing sun." - David Bouchard

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Tankgurl38 Enthusiast

Tankgurl38   0

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Also with a short sale, the seller of the home has to provide proof that they can't afford to keep making payments on their home and have to not been able to make payments for a few months, or something like that.

We have made an offer on a short sale, there is nothing short and quick about selling a house this way, nor buying one.

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thetreble Experienced

thetreble   19

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It's definitely not because we can't afford the home. We purchased full well knowing we could afford it without worry and have not been late on a payment since we owned it in December.

It's very interesting. We will have to see what happens. All I know is that we want out and can't wait until next year!

"...My hair's mostly wind,

My eyes filled with grit

My skin's white then brown

My lips chapped and split

I've lain on the prairie and heard grasses sigh

I've stared at the vast open bowl of the sky

I've seen all the castles and faces in clouds

My home is the prairie and for that I am proud…

If You're not from the Prairie, you can't know my soul

You don't know our blizzards; you've not fought our cold

You can't know my mind, nor ever my heart

Unless deep within you there's somehow a part…

A part of these things that I've said that I know,

The wind, sky and earth, the storms and the snow.

Best say that you have - and then we'll be one,

For we will have shared that same blazing sun." - David Bouchard

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trailmix Grand Master

trailmix   77

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Thats definitely something we'd be interested in, although we could come up with almost all of it on our own I'm sure. Do you suggest we contact the lender now before we put it up for sale? Or would we do that after we put it up for sale?

Personally I wouldn't - only because who knows, you may be surprised and actually sell it for what you paid for it. You only bought the property 6 months ago, not much has changed in the market since then - except that people can now get that tax refund!

You bought the place with the 80's decor, you have now freshened it up with your own furnishings etc.

You should be able to determine in a couple of weeks if you are getting people looking through and seeming very interested, or if you are going to have to lower your price.

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JillA Experienced

JillA   2

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You should call HGTV and be on one of their shows! :D YES! DO IT!!

Well they won't qualify for Property Virgins, as they are no longer virgins! I love property virgins, I could watch it all day long!

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Krikit Grand Master

Krikit   1,164

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Well they won't qualify for Property Virgins, as they are no longer virgins! I love property virgins, I could watch it all day long!

Arrgh! I can't stand that woman. :bonk:

But speaking of HGTV..... I was just saying to my husband, yesterday, that I want that guy who wanders DIY shops to give them a new garden to find ME in a DIY shop. :lol:

iagree.gif
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thetreble Experienced

thetreble   19

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I watch a lot of HGTV. The property virgin lady is a bit of an #######.

T-mix I will take your advice and wait until we put it on the market to talk to the lender. You are right! We have really updated the house with just some paint and we may get exactly what we asked for it.

"...My hair's mostly wind,

My eyes filled with grit

My skin's white then brown

My lips chapped and split

I've lain on the prairie and heard grasses sigh

I've stared at the vast open bowl of the sky

I've seen all the castles and faces in clouds

My home is the prairie and for that I am proud…

If You're not from the Prairie, you can't know my soul

You don't know our blizzards; you've not fought our cold

You can't know my mind, nor ever my heart

Unless deep within you there's somehow a part…

A part of these things that I've said that I know,

The wind, sky and earth, the storms and the snow.

Best say that you have - and then we'll be one,

For we will have shared that same blazing sun." - David Bouchard

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Sprailenes Veteran

Sprailenes   47

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You could go on real estate intervention. They had a couple sort of in your situation yesterday.. they did end up renting and said they would revisit the situation in 2-3 years. But they ended up only getting 2000.00 yet their mortgage payment was 2300.00 but the loss of 300.00 was less than what they would actually lose if they sold their house at that point in time.

Donne moi une poptart!

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thetreble Experienced

thetreble   19

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Interesting. I guess that will be something to see. If we put it on the market and don't get what we want for it, or have a hard time selling, we may then rent it if all else fails. The loss might be greater in a sale than the loss in rent to cover the mortgage.

"...My hair's mostly wind,

My eyes filled with grit

My skin's white then brown

My lips chapped and split

I've lain on the prairie and heard grasses sigh

I've stared at the vast open bowl of the sky

I've seen all the castles and faces in clouds

My home is the prairie and for that I am proud…

If You're not from the Prairie, you can't know my soul

You don't know our blizzards; you've not fought our cold

You can't know my mind, nor ever my heart

Unless deep within you there's somehow a part…

A part of these things that I've said that I know,

The wind, sky and earth, the storms and the snow.

Best say that you have - and then we'll be one,

For we will have shared that same blazing sun." - David Bouchard

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