Question: What Happens If I Can’t Sell My House?

How do I get rid of a house that won’t sell?

Do not despair because there are still actions you can take when your home does not sell.

  • Postpone Selling Your Home.
  • Consider Taking Out a New Mortgage.
  • Rent Out Your Home Instead.
  • Consider a Short Sale.
  • Offer Your Home on a Lease Option.
  • Ask Your Employer About Relocation.
  • Lower the Price to Under Market Value.

What happens if you cant sell your house?

You can’t sell your house for what you owe and you don’t have the money to cover the difference, so one of your final options is to call the bank and ask them if they’d agree to a short sale. If they ultimately accept an offer, they often take the hit on the difference between the mortgage amount and the sale price.

Should I rent my house if I can’t sell it?

That raises a related challenge — selling their home at a reasonable price or that will pay off their mortgage. If you are one of the many folks facing this situation, consider renting your home. You can’t sell house for an acceptable price. Rental Income provides good cash flow.

How long do you have to live in your home before you can sell it?

five years