verygoodthings
Dryer sheet aficionado
- Joined
- Feb 4, 2011
- Messages
- 34
Just a comment, since original poster seems very comfortable with the "immediate" equity of a short sale.
As other people posted, this may or may not be the case. I think realtors and people in the industry try to suggest that shorts are priced below market (I've heard 15%, I've heard 10%). On any case by case basis though, you really don't know for sure.
Don't forget the closing costs to buy.
And don't forget the costs to sell (realtor fees amongst other things that will pop up).
Equity isn't a number that you can easily calculate. If you get into a house and decide its not for you, or your employment picture changes (Referring to Nords words of caution), you are probably going to come out a loser in the short term.
Keep playing with numbers, you sound like you are approaching this very sensibly. Just try not to have too optimistic of an outlook, it could bite you.
As other people posted, this may or may not be the case. I think realtors and people in the industry try to suggest that shorts are priced below market (I've heard 15%, I've heard 10%). On any case by case basis though, you really don't know for sure.
Don't forget the closing costs to buy.
And don't forget the costs to sell (realtor fees amongst other things that will pop up).
Equity isn't a number that you can easily calculate. If you get into a house and decide its not for you, or your employment picture changes (Referring to Nords words of caution), you are probably going to come out a loser in the short term.
Keep playing with numbers, you sound like you are approaching this very sensibly. Just try not to have too optimistic of an outlook, it could bite you.