You are here:
Buying or Selling a Home/homes
Advertisement
Question
Hi Jessica
My question is about selling or keeping a house , I live in Columbus ,Ohio and we bought a house 2 mts ago and now my husband may lose his job .The value of the house was 245,000 .How much would we lose now if we sale ? Thanks Felicia
Dear Felicia;
Unless you purchased the home at below market value and suddenly values have risen, I would say that you will probably lose money on the sale of the home. This is particularly true since the Spring Market was a better time to sell than right now. In addition, there are always fees associated with buying and selling. Those fees are not recovered in the first few months. I recommend trying to hold on to the house and renting it out until you build a little equity or the market improves. As for how much you may lose, I can only say that you need to look at what your actual costs were above and beyond the home price. Even if you are lucky enough to sell the home to someone at the price you paid, you will incur legal transfer costs and any miscellaneous fees there may be. In addition, there could be broker fees that you would have to pay as well.
Good luck and best wishes.
Jessica Bryan
Related Articles
- Spring Selling - Selling in Spring - Spring Home Sales
- Under Market Value - Homes Priced Under Market Value
- CMA Comparative Market Analysis - What is a CMA / Comparative Market Analysis
- Home Sales Price - How to Pick the Right Sales Price For Your Home
- When You're Ready to Buy - Personal Finance for Single Mothers
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
©2012 About.com, a part of The New York Times Company. All rights reserved.