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GET A MARKET ANALYSIS TO DETERMINE IF YOU DONT HAVE THE EQUITY...THIS SHOULD BE THE FIRST STEP TO SEE WHAT OPTIONS YOU WILL HAVE: SHORT SALE: MOST BANKS ARE WILLING TO TAKE LESS OF WHAT IS OWN TO THEM...MAKE SURE IF YOU HIGHER A R/E AGENT THAT HE IS FULLY CAPABLE OF HANDLING THIS TYPE OF SALE/TRANSACTION. FOR SALE BY OWNER: BE PREPARE TO WORK ON WEEKENDS TO SHOW THE HOUSE,ADVERTISED ON LOCAL NEWSPAPERS,SIGNS AROUND THE NEIGHBORDHOOD,AND KNOW WHAT WOULD BE EXPECTED OF YOU IN PREPARING OR ACCEPTING A REAL ESTATE OFFER... DRIVE AROUND YOUR NEIGHBORDOOD TAKES NOTES ON WHAT IS FOR SALE IN YOUR AREA.....GOOD LUCK.PS..NOT YELLING FORGOT TO TAKE MY CAPS... SORRY
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Do you have to sell? What improvements could you do to increase the equity? Can you afford taking back the note? You could take a down payment from a qualified buyer, use that to buy your new place Most people want to "upsize" try down sizing and use the difference to buy more investments.
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