I know this is a stupid question, but if we paid 250K for our apt

How low can we make our asking price to cover ourselves?

Our realtor wants 5%, but what are the other fees that go into it?

We're really just concerned with moving out than making a profit.

here is our MLS if that helps-

Great Neck

Re: I know this is a stupid question, but if we paid 250K for our apt

I don't have any idea but your place is adorable! Only thing, the MLS pictures are a bit blurry, can you fix that?

Re: I know this is a stupid question, but if we paid 250K for our apt

5% is $14,750 of $295K

I am not sure about other fees

so if you sold you apartment for $295,000 minus the fee- that's about $280K

about $30K minus other fees- if there are any

of course if it sells for oer asking the agents commision will go up

I am in the wrong business

Re: I know this is a stupid question, but if we paid 250K for our apt

You probably did most of these things already but I thought I'd list them - just in case:

- Call the management office to get comps - find out what other units in your development have sold for or what other units are listed for.

- Do a search to see what other comparable units in your area (outside of your development) are up for.

- Ask your LA to get comps for you so you can see where things were priced, how long they were up for, any price changes that took place.

- Determine what you have left to pay on your mortgage, how much you would like to put down on the next purchase, what other debts (cars, student loans, etc) you have that might factor in. What I mean by that is in some situations it might make sense to pay off the car loans so that you can free up money for the new mortgage. Sometimes that works, other times it doesn't matter. Just wanted to through that out there.

- Factor in LA commission

- Factor in closing costs on the co-op as well as the next purchase

Message edited 6/8/2006 12:20:54 PM.

Re: I know this is a stupid question, but if we paid 250K for our apt

Also there will be transfer taxes to the state that you will have to pay when you sell your unit to the title company as well as other fees that you might have to pay if you have a mortgage because the title company will make sure everything gets recorded properly.

Re: I know this is a stupid question, but if we paid 250K for our apt

just wanted to add that your apartment is adorable. i am sure it will sell, it looks great!

Re: I know this is a stupid question, but if we paid 250K for our apt

THanks for the compliments!

I am going to go see the management company tomorrow and ask them about all the stuff you guys mentioned. I really appreciate your input- I'm getting so nervous about selling this place and finding another place to live with the baby