If you put your house on the market, there’s a great chance it will stay there for months, leaving you twisting in the wind as you decide what your next move will be. No matter how often you badger your real estate agent, the depressed housing market means buyers can be choosy, leaving otherwise attractive deals hang in the balance.
A post at Canadian Finance Blog lists some options for frustrated would-be home sellers:
* Take your house off the market. If you don’t have to move, you can hold on to the property until the climate is more hospitable and then try again. If you sell now at a bargain-basement price, you may regret it several years from now.
* Rent it out. If you can find a tenant to cover your mortgage and expenses, renting could be a savvy financial move that provides a new income source that will last indefinitely. Of course, this also gives you a new, possibly time-consuming side career as a landlord.
For other options, including arranging to lease the house or convincing your mortgage holder to agree to a short sale, click on the source link.
Four Ways to Deal with a Home That Won’t Sell [Canadian Finance Blog]