Sellers May Have to Bring $60K to Close

Episode HMFSL-313H

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  • February 20, 2014

    7:30 AM e/p

It looks like first-time sellers Amanda and Logan might have to sell for $100,000 less than their purchase price. They refuse to short-sell or go into foreclosure, even though they might have to bring more than $60,000 to the closing table. They are determined to move into a bigger home before the arrival of their second child, as the 1,000-square foot condo is too small for two children, two dogs, and a home office. But when home values in the Washington D.C. suburb continue to slide, this couple decides the smart money decision is to wait for the market to rebound, and rent in the meantime.