Is This a Solution?

Expert, localized Los Angeles answers provided by Heather Roy

Is This a Solution?
	Edith, I was relocated from the Keys to North Florida a Year ago and have had a house on the market in the Keys for the entire time. We have had it listed with two seperate realtors and have followed all of their advice for pricing with still no luck in getting it sold. This situation is moving towards putting me in bad shape in the financial department. I looked into some of the "we buy" type companies and have gotten an offer from one stating they want to put the title in a trust and make the payments while they try to sell it. Is this a common practice? What types of things should I watch out for in a deal like this? Any advice would be very much appreciated.

	I don't know exactly what you're being offered, but you are certainly wise to question it. My advice is to find the best real estate lawyer you can (ask local banks who handles their real estate work, perhaps) and have everything looked over carefully. My instinct, without knowing any details, is that you ought to stay away from the whole idea. If you offered your house for sale for $2, it would sell in five minutes. And somewhere between $2 and the price you're asking is a figure that will attract buyers. I'd advise continuing to drop your asking price until you hit the level that the buying public responds to.
	Edith Originally published on May 29, 2007

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