I want to sell my house but...?

You will have to decide what to do with your current home. Zillow is good but reflects recent sales in the area so is not always accurate.

A Realtor can do a comparative market analysis (CMA) to determine the value of your home.

If the value is really significantly less than what you owe, of course you cannot sell it without incurring a short sale and adversely affecting your credit.

What about turning this house into a rental to partially or completely cover your mortgage?

If you can qualify for a mortgage for the new house under those circumstances, go for it.

But if you have to rent out this house and rent a larger house for your growing family, you will still have a tax benefit and will be able to hold onto your current home until it increase in value at which time you will sell it or retain it as income property.

Tread carefully when purchasing a HUD or bank owned property - they usually come with their own sets of problems - deferred maintenance, depressed neighborhoods, etc.

It is feasible to promote PROVIDING that the estate shall be vacant on finishing touch i.e. the tenant has already long gone. I as soon as checked out a estate which had a tenant in it, and he or she was once approximately to transport out. Don't recognise if there will be any further bureaucracy although. You must keep in mind how lengthy the tenant has and component whether or not its brief sufficient for a sale to head via. If there are 6 months to head, then it could be a hindrance if the customer is in a series, as such a lot chains would possibly not wait that lengthy. Also, you would get a primary time customer, or coins customer, who is also capable to transport rapidly.