What a great deal to be able to buy your dream home with little to no money down! I think I’ll  do that again!

There are hard realities to face with many home buyers who have purchased their homes with little to no money down in the past few years and now are wanting to sell.

All to often we are having to meet with potential sellers who have owned their houses for 4-5 years and are now wanting to move for various reasons. They meet with us in hopes to learn they will be able to see a good return of equity. For most, this is not the case. Some have even refinanced within those years which makes the net at closing even less.

The truth is if you paid little to no money down, refinanced and rolled those closing costs into the refinanced loan, chances are you will be coming to the closing table with money to be paid out of your pocket.

What is that old saying…”Pay Now or Pay Later”?  Even with housing sales on the increase, it is not an overnight process for values to increase rapidly enough for a huge profit to be received.

The best way to know where you are in the selling process is to contact a REALTOR®.  They will be able to provide a market value of your house and prepare an estimated net sheet at closing.

Be prepared to hear what they tell you as this is not any easier for them to deliver the information as it is for you to hear. We all want the same end result…to sell your house so you can move on to another dream.