All Forum Posts by: John Smith

Understood thanks.

Any other options that I have other than wait it out? I am thinking about paying for closing costs to help the sale

Hello, I recently purchased a property as a first time home buyer and regret the decision. I now have the home up for sale attempting to get someone else to buy it. I haven't had any requests to view it in a week since posting it, I am hoping it will just take some time, a couple weeks to get some showings in. or it may be that the market has changed and I am screwed and will have to live here for the unforeseeable future

If I sold the home at a loss, say 10k , can I pay the difference to the bank/mortgage company , I know if you sell a home at a loss, its called a short sale, but I don't know if that would apply to me? if I pay the difference at closing? 

I don't think I could rent the place out, as the mortgage payments are quite high so rent might be out of someone's budget, plus I would then responsible for any issues that come up and if they wreck the place, even worse. If I am not mistaken, the home owner in GA is responsible for all the systems in the home and can't rent it out for the renter to handle everything. not sure if there is a way around that, like a rent to own situation?

Do I have any options except wait for someone to buy and stay in the home until I can get it paid off to an lower amount where I can sell it for a lower price?

Any comments, opinions, advice is appreciated. thanks!