Sell Your Home Without A Realtor

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If my homes forecloses, and I owe $54,000 but the property's value is $209,000 and it sells at auction for $209,000. What happens to the difference? Who keeps the money? Please give links to where you are getting your answers.
Okay, if the money is mine, how do I get that money?????????
This was an exagerated scenario, but the price of the home was more than what was owed. The home was on the market for a year before foreclosure.

The remainder is yours, but if the property is really worth $209,000, you should be selling it yourself, rather than forcing the bank to go through the cost and hassle of foreclosure, trashing your credit rating to boot.

By the time you pay for their costs of foreclosure (and ALL costs come out before you receive a cent), and factor in what the lowering of your credit rating will cost you in the next 5-10 years, you'd have been MUCH smarter to sell yourself.

We are looking to get a home. We have been living in a apartment for over a year and paying about 1k a month. I have heard about those ren t to own homes… I am not sure if they are worth it. I feel like we are losing money in rent.

be careful… real careful. With all the "owner finance" and "rent to own" scams out there. Many desperate homeowners who are facing foreclosure will pull this scam to bilk as much money out of someone as they can then not make the mortgage payments to the original lender and you wind up being evicted out on the street.

Think about this first….. how many "owners" own their house outright and would be willing to gamble on someone they know nothing of, who has bad credit when they can sell and put the cash in their pocket or use it to buy a better and bigger home.

than when I bought it in '99, but it was worth so much more just a few years ago. I'd like to sell, but it wouldnt sell for what I want, as I put much into it. Is it better to sell now or wait until the market stabilizes, whenever that will be?

wait unless you have to move. your house is first and foremost a dwelling, and only secondarily an investment. the thinking that the house is "the largest investment you'll ever own" is what created our current housing crisis. It's a place to live. It happens to appreciate in value over time, most of the time.

I believe that the housing prices have returned to "normal" — if your house appreciated between 3-5% annually from the day you bought it to today, then it's at its fair value. More than that (i.e. the 10-15% increases we saw) is unsustainable and prone to "crash"

I am searching for some homes to buy my first home.

Lets say if I like "A" home, is there a way as to find out as how much
was that home "A" brought from the current or previous owner.

Lets say if the home was built on 1990 and it was brought my 3 owners from the past 19 years , is there a place to find as how much did all these 3 owners brought from each one of them.

I wanted to see the price graph of the home.

Sure.

Your city or county land records or tax assessor's office will have that information. You may also find it online. Where I live, for instance, the tax records are online (do an online search for "[your county] tax assessor"). And where I live, they'll list up to 3 past sales. Usually, where I live, the records will go back to the 1960s, approximately.

Recognize that knowing how much a property was purchased for doesn't really tell you what it's worth. To determine that, ask a Realtor to do a CMA (competitive market analysis) for you on the house you're interested in. That'll give you a reasonably solid number on what the house is worth today. And there's no charge for that service.

Hope that helps.

Priceless in my mind.

"Why land is the only thing that matters, it's the only thing that lasts … (tara)"

I saw in the news last nite (2/9/06) a new website that lets you know how much your property is worth, I think it was in KRON 4
Do you have the link?

My father in law is a retired real estate agent. He e-mailed me this as soon as he saw it. He said it is a GREAT site, started by the inventor of Experian

It is not completely up to date, for some areas, but accurate to about two months ago.

I am upsidedown with the condo I purchased a couple of years ago. I bought it for $370 and it's only worth about $200K. So there is of course zero equity there.
I want to know if it's possible to qualify for another loan so I can purchase a second house. I've never been late on payments, my husband and I have really good credit, and our income is strong (stable) and high. Thanks.

yes as long as the debt to income ratio can handle it. Just know this with no equity in the home you cannot offset the mortgage payments with a rental agreement as you MUST have 30% equity to do so. You also must move up in home and not stay with the same sq. ft. or even close or there must be a good reason to buy as many lenders may see you buying and then foreclosing on the home you have now. That is the way they will see this purchase so they have discretion to deny a loan just for that purpose.
I am a mortgage banker in TN

I would like to figure out how much a home I own is worth on the market currently because I was thinking of selling it. What website can I go to check and how?

A quick and decent way is to use:

www.zillow.com

and just enter your own address

If your house has been around for more than 5 years or so then the numbers are good. New sub-divisions and tract homes built in the past few years may not even show up.

Neighbor is considering purchasing my home. We have looked at comparables, however none of them are full brick homes. This is an older (80+ years) neighborhood. 2050 sq ft. Comparable wood homes sold around $225,000
Southern Wisconsin

About double.
Start with a very high price, see if he bites. Wait a week or two. Then maybe lower the price bij 5% or more (depending on his first reaction two weeks ago).
Where is it located?

Wooden houses: DON'T go for them if anywhere near the hurricane alley.