Quote:
Originally Posted by khaye1
the value on the condo is not as bad as a year ago...should be getting close to what I paid for it now. If the "recovery" stays steady, I'll be even within the next 6 months.
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That makes it easier. But truthfully, you have to have your condo appreciate just a bit to sell it and break even once you consider selling expenses. If you owe $400k and it's worth $400k, you gotta consider 6-8% selling costs.
Even if you list is FSBO, unless you get super lucky and find a buyer yourself, a buyers real estate agent is going to want at least 3% commission and whatever selling expenses/closing costs/title costs you agree to cover.
The real estate world is kind of like ebay. It sucks to give up 6-8% (or 10% in eBay's case), but it's almost a must if you can't sell it locally on craigslist, especially if your item gets bid up (car part analogy) .