how do I sell my lots in Florida fast?
Monday, November 16th, 2009 at
5:06 pm
We purchased a two-lot parcel about 2 & 1/2 years ago. We have a balloon payment of approximately $11,000 due in June. We purchased the lots for $29,000, so we have equity in them, but we don not have the cash to make the balloon payment. We’d rather sell for small profit or break even to pay off the loan and get so cash in our pocket from all the equity we’ve paid in. The lots are on a cul-de-sac street in Oakwood Hill 3 Subdivision, Walton County Florida. Parcel ID# 17-3N-20-28080-032-0310. All utilities available: Power, Water, Phone. Existing homes on the street. There is a new fire-hydrant about 3 lots down (great for lower homeowners insurance). The Real Estate Market is slow and If we could wait a year or two, we could make some profit, but we are desperate. Can somebody please help give us some advice, or make an offer on our nice Florida property.
Rent Back
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Tagged with: Balloon Payment • Oakwood • Real Estate Market
Filed under: property sale
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Ouch! Sounds like you are some of the folks like we hear about so much in the news. Can you take a second mortgage on your home? Or get a co-buyer for the property?
.. let me see if I understand this… You want to sell property NOW for what you paid for it 2-2.5 years ago???
Hate to tell you this but you may think you have equity in it.. and you do.. but you do NOT have enough equity in it to ask 29k for it. The market is not only slow it is going backwards. My home was valued at 165k 2.5 years ago (we check it every June). Last June it was down to 115k. Now we do have equity in our home as we only paid 80k for it 5.5 years ago. In this market however we could not sell our home for the 115 and it would be pushing it to sell it for 80.
Your best bet is to refinance what you owe. It is done all the time and you will have a much better chance as the owner than if you were trying to buy new land.
put them up for public auction
a; why not find an additional partner?
b; put something on it; storage units, a fence and store cars and
boats,
use the land……..piece of cake!
or, get bids to build on it and sell it as as lot with house and
no money down. As long as you allow the buyer to escrow the
funds, it is legal.
then, you can get a construction loan and pay off the balloon.
happy new year
Leider die meisten der Empfehlung, die Sie oben gegeben wurden, ist zutreffend. Kauften vor wenn Sie 2 1/2 Jahren (in den Höhen des seller' s-Markt) Ihre Billigkeit wird vermutlich gegangen.
Wenn es Erbauer in Ihrem Bereich gibt, konnten Sie mit ihnen sprechen und sehen wünschen, wenn sie Ihre Lose für ihren eigenen Warenbestand oder vorbildlichen Häuser kaufen würden. Selbstverständlich zahlen sie nicht hohe Dollar, da sie ziemlich genau informiert sind, was die Eigenschaften im gegenwärtigen Markt wert sind.
Oder der Versuch partner mit ihnen, ließ sie leisten Ihre Balloonzahlung, können sie ein Modell und dann in einigen Jahren später errichten, die sie das Modell verkaufen und zahlen Sie weg.
Gespräch zu einem lokalen Grundstücksmakler konnten sie mit einigen kreativen Ideen aufkommen.