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Updated about 6 years ago,
Selling rental in San Diego county.
We have a condo in North San Diego that used to be our primary residence, but due to relocation it has been a rental for the past 7 years. We don't want to be landlords anymore and want to sell it. Should we use a normal realtor or just sell it to an investor? It needs some repairs and we really don't have the time or money to do it ourselves, because we live more then one hour away, but for the realtor it really has to look good. Realtor says it's worth 299.000 but might take a while to sell in this market. We got an instant offer for 276.000 where the agent charges 7 percent. Should we just take the offer or take the chance with the realtor in this market or find some real estate investor that can give us a better price? Also we have a streamline FHA loan at 3.75 that is assumable. Should we mention that to a prospective buyer or is that just going to be a headache because they will have to put down a large cash payment? We really have no clue what to do next. Is there a marketplace for rentals/investment properties?