My Folks are in a Financial Pickle

I'm posting this here because I'm not sure a donation would be the best route.  I (well, my parents) need help getting out of this jam.  This is cross-posted from my blog:

House(s) for Sale - Texas

Posted on Jul 3rd, 2007 by ~Matthew

If anyone lives in or is planning on moving to Waxahachie, TX (near Dallas/Ft. Worth), and wants to buy a house, let me know! 

My folks have two for sale and can't afford the mortgages.  They were supposed to be lease-to-own rentals to people trying to improve their credit scores and then subsequently sold to those people, but that fell through.  Then the insurance company that was guaranteeing the mortgage would be paid went bankrupt.  My parents can't afford to keep 'em.  We have them listed with a Realtor, but so far, no luck :( 

I feel pretty bad because I'm the one who introduced them to this “oppurtunity”.  E-mail me at matthew@zaadz.com">matthew@zaadz.com if you can help, or post in the comment section with advice.  Thank you!

Re: My Folks are in a Financial Pickle

Those look like some nice houses, well worth buying. It's too bad your family has to sell them!

Feel free to also cross-post to other boards here - doubtless the more attention you can get, the better.

Anyhow, I hope things work out!

Re: My Folks are in a Financial Pickle

I recently found a site called Craigslist.org, which is basically a site where people can post classified ads for free, with just a few exceptions (which wouldn't apply in this case).

I've never used Craigslist before, so I don't know how well it works, or how good of an idea it is to post there, but apparently it's popular.

There's a Craigslist site for the Dallas/Ft. Worth area: http://dallas.craigslist.org/

Re: My Folks are in a Financial Pickle

Oh yeah, I use Craigslist all the time :)  In fact, I've had those properties posted there for about a month!  Thanks for thinking of me!!  I really appreciate it.

~M

Re: My Folks are in a Financial Pickle

You're welcome! 

Thought of a couple more ideas. eBay, perhaps?

Or AuctionAddict.com - which has no listing fees and no commission fees.  Plus, their Real Estate section is currently empty, so your listing would get all the attention, since it would be the only one there.

Warmly,
Apollia

Re: My Folks are in a Financial Pickle

Thanks Apollia,

We're currently listed with a Realtor, so listing with eBay or an Auction would probably break the contract.  But I'll consider this for the future if nothing happens!

:)
~M

Re: My Folks are in a Financial Pickle

Ah, I didn't know that.  Well, I guess it's obvious I know hardly anything about the real estate business. :-)

Good luck! :-)

Apollia

Re: My Folks are in a Financial Pickle

Hello,

Yes, it seems a lot of people are having this problem. I'm sorry to hear your parents are having it too.

I too use Craigslist often and it's a great place. Just keep your ad running and updated, people don't usually scroll too many days past the current date.

Also, I may be stating the obvious here, as you have probably been doing this stuff, but just in case:  hold open houses every Sunday, make sure your Realtor posts signs at every corner and at a major intersection that an open house is taking place,  post flyers on every bulletin you can find, offer creative financing and seller concessions.

Where does your Realtor advertise and how often, make sure she/he gives you a copy of every ad. When I was selling my Mom's house, my Realtor told me she was advertising all the time. As she was a “friend” I trusted her. Found out later she had not run even one ad. Nor was she doing the open houses she said were taking place. I ended up doing those myself. Actually worked out better as I knew the house so well, as I grew up there. (I would leave them alone and then take them through again and answer their questions and point out things they may not have noticed.

Are the one of the homes still occupied and is the other still furnished? If so, there a few tips I could give you on things to do inside the house.

My sister is selling her condo.  She landed an excellent Realtor and between the two of us, after having been on the market for a year now, she now has two potential buyers!!

I hope this helps. Good luck.

PK

I was a Mortgage Broker for ten years so, I've seen all kinds of situations.

Re: My Folks are in a Financial Pickle

P.S, I just noticed these posts are from July, have the homes already sold?
PK