The homes in our area are going for just a little over what we owe (10-30,000) but ours is a fixer upper. Realtor told us to put in 5000 and we should be able to sell it for enough to cover loan and fees just losing the 5000 we put in it. My question is can we put it on the market as a fixer upper and get an offer for less then we owe? I know that would be a short sell and our lender is fine with those but we would be short hopefully no more then 20,000 (based on lowest price of trashed comp sold for). I know this is all based on if someone makes on offer, but I want to know if it's feasible to get a short sell on just a couple grand. If we advertise then we'll get low balled. So not sure on what happens in these cases. Oh and we are current on payments and do not have a second mortgage. Need to move for medical very much needing to sell.
