Can you sell a house for less than it's worth

Are you looking to sell your home but you owe more than it’s worth? Can you sell a home for less than it’s worth? Is it legal to sell a house for below market value? In this video, we discuss these questions as well as the process of selling your home for less than market value.

#RealEstate #RealEstateMarket #HousingMarket

Can I sell my house for less than it’s worth?

Yes, you can sell your home for less than it’s worth but the process all depends on how much you owe on the home. If you owe less on the home than you are trying to sell the home for then selling your home for less than it’s worth then it should be a relatively simple process. On the other hand, if you owe more on the home than you are trying to sell the home for then you would have to do a short sale.

What is a short sale on a house?

A short sale is when the Seller of the piece of Real Estate owes more on the piece of property than its current value.

A short sale requires lender approval to sell the home for less than you owe on it.

Can you sell your house for any price?

Yes in theory you can sell your house for any price but as I mentioned above, if you owe more on the home than it’s worth then you will need to get the bank approval before accepting an offer on your house.

Is it legal to sell a house below market value?

Yes, it’s completely legal to sell a house below market value. There are many cases where homes sell for less than the market value.

Are you looking to sell your home but you believe that you owe more on the home than it’s market value? If so, please contact me directly as I’d love the opportunity to help guide you in the right direction.

Connect with me:

Other videos you might find helpful:

Keywords

Can you sell a home for less than it’s worth, can i sell my house for less than it’s worth, can i sell my house under market value, can you sell property for less than market value, can i sell my property below market value, can you sell a property undervalue, is it legal to sell a house below market value, can i buy a house for less than market value, can you sell your house for any price, can you sell your house for more than market value, can you sell your house for 1, realtor, real estate, real estate tips

[zediahtimmons]

Can me and my wife sell back and forth to each other for the amount of the mortgage rate to reduce the payment. I'm asking not back to back but like every few years.

[alexlepe]

Hi Jeb, great video thanks for taking the time. I'll try to keep this short. I have a friend here in the bay area who is wanting to practically gift me his home. Zestimate of the home is 1.3 mill. He is willing to sell to me for 800k. Anything less is negotiable at this time. He and I understand this is a generous amount and an agreement between us. My question is If I am able to approve for this home in the bay area or even less approve, should this deal happen? I'm only asking because the world of internet is very discouraging when it comes to purchasing a home under market value. Any help is greatly appreciated, Thank you!

[mkmitchell]

Yes I have a question im an investor im working a deal in Maryland the property is free and clear. My offer is $270k property needs $30k in repairs. The seller has rejected it based on tax rate on a appraisal of $350k he thinks he is losing money. My question is what is the seller thought process and how can I over come this rejection. Time is important please respond asap

[danielrobinson]

I have a question about this I have a friend 86 years old that has a house is valued at 460, 000. She’s going to sell it to me for 100, 000 but I also have to give her $1500 a month until she gets anot 2:55 her hundred thousand so the total would be $200, 000 she will receive, but I don’t want to buy the house for 200, 000 but I want to take a loan out on the house for 250 when I buy it would I have to take the loan out after the by 100, 000 is there a way to do this. I know it’s subject to wouldn’t work because she has no mortgage. The house is paid for, I need some advice on this. I basically want to take enough out on the house to pay her with her own house. She wants to live there until her death. I will be paying her that $100, 000 over term and tell her death she will get the initial hundred thousand from the sale, but if she dies before the hundred thousand and payments is paid it’s forfeited 100, 000 what is the best way to achieve this so basically house, in my name with her have no responsibility she gets to live there until her death hopefully I explained it well enough

[Lilthis_n_that]

Ehats your direct contact? I need help

[DB-]

I'm surprised you feel this isn't common. I'm guessing this is only prevalent in lower-income neighborhoods. I'm in a situation where I'm tired of being a landlord & I'm willing to sell under market value to end all my landlord duties. It's a multi-unit home "zestimated" around $520k but i'd take 400k given it needs a few repairs. My mortgage balance is around 290k. For the relief of getting this responsibility off my back I'd easily sell below market value to cover the balance & move on.

[crazycatzmum]

Can you do a video on the opposite? Can one sell a house for MORE than it's worth if the neighborhood is extremely desirable? A house here sells in two days 50k over asking price due to bidding wars, but can you just set a house you bought for 250 at 350 if it's not worth 260?