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When Selling Your House at a Discount is Worth It

When Selling Your House at a Discount is Worth It

In a world where we are taught to take as much as we can and never accept less than what we are due, it can be hard to imagine selling your house for less than it was originally appraised. People in your life might be harping on you to “wait it out” a bit longer and see if someone else comes along. While these other people may be correct in some circumstances, only you can know if you are able to accept a discount. Here are some common reasons people look to sell for less, and are happy doing so!

  1. You’ve already bought another house and the double payments are killing you.
    Your dream house came on the market, or maybe just a house in a much better school district, and you could not let it pass you up. That’s great! You have a new house you are excited to move into. The not-so-great part is that you are still paying off your old house — mortgage payments, upkeep, utilities. All of those expenses add up. To stop your wallet from hemorrhaging more money you need to get rid of your old house. Maybe your house was originally a $90,000 house, but if you can sell it, even for a little less, you’re willing to do so for the return to normalcy –one house payment, one electric bill, one phone line.
  2. You need the cash from your extra property for something else.
    If your family member is undergoing costly medical treatment or Junior finally got into the college of his dreams, your priorities may have shifted some. The property you’ve been holding onto to wait and flip someday or possibly give to Junior post-college just doesn’t seem as important as taking care of financial responsibilities right here and right now. No one would blame you for selling your house for a little less in order to pay bills and afford the opportunities your family deserves.
  3. You need to move or sell quickly.
    Terrific news! You landed the job of your dreams…across the country. Now you have to put in two weeks notice, pack up your entire life, say good-byes and see-you-soons to every family member, friend, and acquaintance. In addition to all that, you also need to get your house sold, so you can afford your new life. Peace of mind and one less thing to be coordinating across time-zones is more than enough reason to sell for less.
  4. You have bad memories or emotional pain associated with your house.
    This is the hardest to talk about and possibly something you don’t want to really admit to anyone else. It might be a home you inherited or it’s the home you’ve always been in, but things have happened making it feel less home-y and more like an unwelcome cage — an unfriendly reminder of what life used to be. In these cases, selling your house quickly and moving on may actually be a form of taking care of yourself. Don’t feel guilty accepting less when doing so will offer you a path to better mental and emotional health.
  5. There are developments popping up that will quickly be offering housing for even less than your house’s discounted price.
    You know what your house is worth, but you also know that the market is about to be inundated with picture perfect homes for even less. Take the money while you can and save yourself the time and hassle!

Don’t let anyone tell you what you can and cannot accept for your house. Waiting for a better offer (especially if it never comes) can be costly in more ways than one. If moving on with life and bettering yourself are part of the equation, then what is a couple thousand, anyways? Look after yourself and your obligations and let us know if we can help!

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