selling a reverse mortgage house on L.I

[oflove13@aol.com]

I am the administrator of my parents house on LI. They have a reverse mortgage on it and they bank are real SOBs. I need to sell this house. Have a certain price I can not go below, to pay off the RM and other Debts owed. Even after telling them that they will still offer me 30-50000 under lowest price{ which is already 25,000 below asking} The house does need work. But its an acre lot in Dix hills the land by its self is pretty much the lowest I can go. Right now Ive only been accepting offers from investors and other cash buyers because they have been offering the closing costs also, and Agents will want commissions that will lover the final amount made off the house. I am out of town and will be looking for someone eventually to help sell it. I am getting frustrated and almost ready to walk away. What would be the best way to help sell this house and get what I need to break even and move on.

[Verolomno]

Did you manage to sell the house for the price you wanted?

[sigericohouston]

In such a case, I would suggest you look for a professional to help you sell the house for the amount you want. And if no real estate agent would be able to guarantee you this price, then I’m afraid that you would have to lower the price. Some areas are just not as relevant as others, and your house might be in one of those areas. I faced a similar situation when I wanted to sell my house in Prague. It was even more difficult because I didn’t know the local market that well and didn’t know what price would be acceptable. Thankfully, https://probereality.cz could help me sell it for the highest price possible. It was even better than I expected. But it was an exceptional case because the house was in good shape.