Foreclosure Looming? How to Sell Your House Fast
If foreclosure is looming on your home the goal is not only to get your home sold but to also sell your home quickly. As a seller of a foreclosure home you don’t have control over everything but there are three things you do have control of: pricing, marketing and condition. These are the three aspects which you can use to help sell your home fast when foreclosure is looming on your house.
Pricing your Home
1. Don’t overprice your home. If you’re main goal is to sell your house fast due to a looming foreclosure it is important that you price your home accurately. You don’t want to overprice your home because then it will sit on the market and then you are in trouble. It is best to price it aggressively meaning price your home low to gain interest in the property.
2. Know what your home is worth. If you choose to have a sales representative, they will have the knowledge of what your home is worth based on comparatives in your neighbourhood. If you need to sell your house fast it might be a good idea to look at the sold prices in the area instead of the list prices to get an accurate value for the property.
3. Know how long you have to sell. You need to be informed and know how long you have and what remaining balance you owe on your home. If you owe more money than what your home is worth you need to speak with your lender to decide what the lowest sale price they will accept.
Marketing your House
1. Make sure you home is marketed accurately. It is important that you make sure your home is marketed in the best way possible. It should be on the internet as majority of buyers begin their search on the web. When your home is listed on the internet it is important to have photos that will attract potential buyers to make an appointment or be interested in seeing the property in person.
2. Offer perks. Maybe if you know you are going to make some money on your home you offer to cover the closing costs for the buyer. Although you may lose a small amount of profit it may attract buyers as they can use the money they would have spent on closing costs to update the home and make it more fitting to their personal needs.
1. Condition, condition, condition. You want to make sure that your home is in the best condition possible. However, you don’t want to spend too much money ensuring it’s in great condition. Since foreclosure is looming you probably don’t have money to spend to put into the house. Instead to inexpensive cosmetic details to add value and appearance to your home. Simply a new coat of paint on the walls and trim of your home can make a huge difference in appearance. It is also important that you keep your home show ready at all times. You never know when a potential buyer is going to see the property and your want them to like the home as soon as they walk in the door. Ensure that there aren’t piles of items lying around or odors as this can be distracting to potential buyers and potentially cost you a sale.
When foreclosure looms on your property it can be stressful time as you want to sell the home as quickly as possible while also getting an accurate amount of money for the property. As the seller there is a not a lot that you have control over but by having control over the pricing, marketing and condition of your home you will help to sell your home fast when foreclosure is looming.