Selling Your House During a Short Sale

Have you found yourself in the position where you must sell your home quickly to avoid repossession? Selling a property before an eviction or bank declaration that it’s vacant can be an intimidating task and often necessitates professional assistance or extensive research. Explore our solutions by clicking here:

Repossession is the last resort a lender can take before your home is foreclosed by the court. Here are some tips for selling your house when facing repossession.

Finding the Right Real Estate Agent

Some lenders may be willing to assist in selling your house directly, but this is not always the best option. Research any prospective real estate agent and learn about their reputation beforehand. Read reviews about their experience as well as testimonials from previous customers, and if possible take a look at other customers’ houses to make sure that you don’t end up stuck with someone with an unpleasant reputation.

List Your Home Correctly

An agent will come to your house and take relevant photos for the listing. Make sure they take high resolution images so they can easily be published online. Asking friends and family members if they think the picture will sell well can give you their opinion of whether it will sell quickly or not. Ultimately, ensure the agent provides you with a high resolution photo so it looks correct across websites.

Take Photos During the Inspection Process

As you may already be aware, inspections for your home can take up to a week. If you haven’t sold your house recently, it may be difficult to sell quickly. Therefore, make sure all furniture and personal property is cleared away before leaving the house.

Discover Which Formalities Need To Be Completed Prior To Sale

Before selling your property, the lender will require that certain forms be filled out. It’s best if you take this initiative yourself so as to save money and find an agent who can sell your house quickly.

Be Sure To Stop Updating Property Information on Public Records

It is essential that you do not keep updating property information on public records during an inspection process for a buyer. Doing so could give the buyer access to your past property history, making it difficult for them to secure financing or insure the property.

Don’t Rely On Lender’s Foreclosure Saver

Some real estate agents and lenders provide foreclosure saver to their customers, allowing you to extend mortgage payments for an extended period so you can continue making regular monthly payments. While this can be helpful for some people, keep in mind that this option only applies to your house and won’t help with selling since inspection and listing still needs to take place which typically takes six months or longer.

By Elora