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Home sellers sometimes ask me whether renting their house while we're trying to sell it is a good idea. Particularly if they have moved on to a new job and home, and are now carrying two mortgages, they can be in very real financial trouble. Sometimes divorce is the culprit, as spouses and homes are torn apart, incomes separated, with two sets of living expenses where once there was one.
I have seen sellers have their homes repossessed in circumstances such as these, when a renter may very well have prevented foreclosure.
Renting your house while you try to sell it can be a great option financially, assuming the renters pay the rent on time and don't tear the place up, leaving the homeowner to have to facilitate repairs in order to sell the home. Some renters are wonderful, caring for a home like it were their own. They mow the yard, paint th...
Bill Porter, Broker
(304) 612-3746
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