Quote:
Originally Posted by blankall
Are people still losing money on the condos even after accounting for the built up equity, from paying down the mortage? You're pulling less out than you put in, or just selling below what you paid?
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I bought a place for 265,000 12 years ago. I tried to sell in the summer of 2019 (was moving) for $205,000 and couldn't. My realtor told me I could have unloaded it if I was willing to drop down to $185,000.
After realtor fees, early mortgage exit penalty, difference between what I owe vs. sale price, I would have had to pay between $15,000-$20,000 to sell.