We have a house in bakersfield, ca and it has been in the market for months and we’re tempted to put it into auction. How does it work? How about we buy houses? Are they reliable? We are not foreclosing the house though.

I’ve got a great one listed right now in Colorado Springs, which I have completely fixed and am ready to flip. All new stainless appliances, all new ceramic tile, new bathroom with pedistal sink & new pegasus toilet, over $10,000 in landscaping done to the outside — But it’s been 3 months and only a few showings. I’ve recently added a free Plasma TV or a $2000 furniture gift card to the MLS, if I get a full priced offer at $125k. Any other bright ideas to move this property quick? More details on it at WWW.COFLIPPER.COM
The comp nearby that sold for $88k was a trashed VA foreclosure. The house next door that was fixed to the level of mine sold for $125.1k last year in 6 days and appraised just fine.

We are trying to sell our house and there is someone VERY interested in it. They are trying to get approved for a loan, but are not sure if they will be approved. The realtor asked us if we would be willing to do a lease purchase. I’m not sure what this would involve or if it would be a good idea. Will this affect our credit when trying to buy a new house? And what are some of the risks involved?

Here is my question. We currently own a house. I want to sell that house and buy another one. What if I find a house and want to get a preapproval on a new house. Do they take into consideration that you already own a house? Or do you have to basically get 2 houses?