We are not in danger of foreclosure, but getting married and need a bigger house. Have current house on the market for one year. Will banks buy back houses in a situation like this?

The last thing a bank want now is ownership of yet another house. If it has not sold in a year it is over priced for the current market. Have it reappriased and see what that prices comes out to be. My own residence lost 20% in appraised market valve in one year. Whatever price comes up it will be more than what a bank would do in a short sale. You can always ask the bank about a short sale but I think you should just lower the price and bit the bullet.

The house is only $56,900. It's not over priced. It's under priced if anything. We are looking for a house around the $150k. We are getting married and must have more room. Will a bank buy back the house we are in. Will be buying another home more than double what we have now. We are not in anykind of foreclosure danger. Just looking to move forward with our lives. We each have kids we are bring into this marriage and need more room. The house is in excellent condition. It wasn't when we bought it. The walls have been retextured and painted. The air is fairly new, the roof is not very old. Ceilings have been reblown. It has 2 nice storage sheds. Fenced in backyard. Brand new stove, dishwasher, above the range microwave, undercounter lighting. We really don't want to be landlords. Any advice will help.

No, the bank won't buy your house back from you. I've never heard of anything like that.

Is that your only question?

It would appear that your only choice is to sell it and turn the sale money in toward a new house.

PLEASE stop posting the same question - Ballenger has answered you correctly.

Banks do not buy back houses when owners decide to move on.

NO, first the bank never "owned" your home unless it was a foreclosure, to buy it back, they have 1000's of homes they don't want already.

Next over priced is a matter of opinion. A home that sold for 300,000 4 years ago, may not even sell for 100,000 today. I bought a home that sold for 200,000 three year ago for 40,000 this year.

You will have your real estate agent, do comparisons on other homes selling in your area, and you will need to price it about 10 percent lower than other listings locally if you want a faster sell.

You said it is 56,000, so what is it, here in Atlanta, a home in need of repair, that is a three bedroom will sell for about 30,000 right now, for 56,000 I can get a 4 plus bedroom with 2 baths on land. ** with enough shopping.

But no, banks do not buy houses

If 56, 900 was a low price the house would be gone by now. Supply and demand set the price as much as new ac and storage. Houses are vselling now, just for way less than 2 years ago. If you really want to see what its worth try to refinance and see what the banks appraiser sets the value at. Their appraiser know what the bank could get for it if they foreclosed, frequently setting the amount they woild loan at 66% of the true market. You have no other options I can see other than lower the price and keep lower it until you get a buyer. That or use the addition $100K you plan to invest and build on to the existing home. We are done now