bluedotsmom Posted November 7, 2014 Share Posted November 7, 2014 Hi! I don't get post much at all, but always try to read during lunch at work!! We will be moving for my job & have only been in our current house three years. The market is pretty good in CN Arkansas, but I expect we may be at a small loss just due for the commission & closing fees. We are priced at about a $2,500 gain. So, I will have a much higher salary and was wondering: 1. is it better to pay down the principal $5 - $10k, and be able to drop the price if needed 2. or just bank some extra to be prepared to pay more at closing. Hhhm, when I write it out, #1 just seems to make so much sense, but I can't seem to get my brain around this! Any thoughts or suggestions are greatly appreciated! Anne in Arkansas Quote Link to comment Share on other sites More sharing options...
Happy Posted November 7, 2014 Share Posted November 7, 2014 I think either one will work. I think I'd be more tempted to write a check at closing -- and saving like a maniac to do so. Do small repairs and shine up your house so you get the best price possible. Here's hoping you get more than you expect! Congrats on the new job! Quote Link to comment Share on other sites More sharing options...
zoobie Posted November 7, 2014 Share Posted November 7, 2014 It's better to hang on to the cash until you have to pay it IMO. You can drop the price below your break even point without paying ahead on the principal. You just write a check at closing. We had to pay people to buy our house in 2009. Ugh. Good luck getting a good price! Quote Link to comment Share on other sites More sharing options...
bluedotsmom Posted November 7, 2014 Author Share Posted November 7, 2014 Thank you both!!! Quote Link to comment Share on other sites More sharing options...
TranquilMind Posted November 7, 2014 Share Posted November 7, 2014 Hi! I don't get post much at all, but always try to read during lunch at work!! We will be moving for my job & have only been in our current house three years. The market is pretty good in CN Arkansas, but I expect we may be at a small loss just due for the commission & closing fees. We are priced at about a $2,500 gain. So, I will have a much higher salary and was wondering: 1. is it better to pay down the principal $5 - $10k, and be able to drop the price if needed 2. or just bank some extra to be prepared to pay more at closing. Hhhm, when I write it out, #1 just seems to make so much sense, but I can't seem to get my brain around this! Any thoughts or suggestions are greatly appreciated! Anne in Arkansas I have a suggestion. Find a GREAT flat fee commission agent in your area, if you are conversant with the contractual language. Will save you a bundle. I realize everyone doesn't have the skill set to do this, but we saved probably 15 grand on recent sales by doing so. I'm sending her a nice bonus for Christmas, just because. Quote Link to comment Share on other sites More sharing options...
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