SELLING SUBJ TO???

Hello,

I am interested in selling my house and have a couple question regarding a ST offer. I realize that this is a subjective question, but I am looking for an fair deal for all. I will list the details of the offer, please add your comments as to what you think would be fair and equitable.

3B/2.5BA home appraised for refi Nov 03 at $430K. FMV $450-500 if pristine.
Currently rented (losing money) it wasn't intended to be an investment but has appreciated nicely.
Balance owed $313K

Current offer:
PP $343K
$10K deposit (pending inspection)
$20K w/in 90 days.
Standard form contract for rest of ST
Contract not signed yet

I feel that this is a good offer for the buyer, but could be better for me. Those of you who have done these deals, tell me what you think would a fair counter offer that wouldn't kill the deal.

House is in SoCal 15 mi from beach. 5 min from movie theater/shopping. Excellent schools, etc.

p.s I don't need to sell, just would like to relieve myself of the burden.

Thanks for your help.

Comments(2)

  • JohnCl25th February, 2004

    randahl,

    I am far from an expert in these matters but it seems to me that the worst way to sell a property is SubTo. This is what makes it a great way to buy a property.

    Why not sell on Lease Option? This leaves you in the "driver's seat" until you get paid.

    JohnCl

  • randahl25th February, 2004

    Thanks for the reply. However, I was not trying to sell the house Subj. To. This was an offer made to me. I just felt that if I was going to go that route, I should get more.

    Don't want to lease option as I would still have the same issues as now.

    I am renting at a loss. I would like to sell the house, make some money, and give someone a good deal at the same time. All this with the least amount of time and effort on my part. I am out of state.

Add Comment

Login To Comment