Selling House in Corpus Christi that needs updates

[Harold Brundidge]

I purchased a 4 bedroom, 1,692 square foot home 4 years ago on a 15 year fixed mortgage for 140,000 in Corpus Christi TX at 5.3 percent interest.  The home was built in 1983.   My payoff on the home after 4 years is $98,000.  The market has improved considerably in Corpus and my house is now worth anywhere around $160,000 and up depending how updated it is.

We want to sell the house and take the proceeds to invest in other real estate.   However, there are several things that need replaced\upgraded.   The roof, master shower, and carpets throughout need replaced, and although the property is structurally in good shape and the AC\HEAT is in good condition, the house has never been updated to today's modern look.

I want to walk away with 40,000 in cash but I am afraid that after the projected closing costs of $13000 that include the realtors $9600 commission I wont get the $40,000 because it needs a roof, shower, and carpet.   

Any suggestions?