Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

70
Posts
38
Votes
Dan Ward
  • Real Estate Investor
  • Cabot, AR
38
Votes |
70
Posts

Best way to sell property for what is owed on it....

Dan Ward
  • Real Estate Investor
  • Cabot, AR
Posted

So I have a home that I purchased about 3 years ago. When I purchased it I knew it would eventually be a rental property and I would just move and rent it out. Well now 3 years later I've found the dream home....got approved and am now considering just selling this house at what I owe on it. I don't have much equity at all in it and if I got a realtor involved I would probably break even at best. I do have a neighbor that I believe would be interested in buying it as a rental. What would be the easiest way to sell him the property at whatever I owe on it? is mortgage reassignment a thing? Is this something I would have a lawyer draft up? I figure this has been done many times before....if you have any experience please do share! 

Loading replies...