Short Sale Tips For Sellers
If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a Short Sale.
A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency.
A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
Trouble Selling? Sweeten the Deal
If you’re having trouble landing a buyer for your home, maybe you need better bait. Crafty home sellers know incentives are the prize at the bottom of the box. By offering buyers something a little different, they can improve their chances of selling their homes quickly and for the price they want.
Here are just a few of the ways home sellers can sweeten the deal with extras:
Cover the buyer’s closing costs
Many buyers, preoccupied with saving enough cash for their down payment, overlook their closing costs which, at between 3 and 6 percent of the sale price, can amount to several thousand dollars extra. Offering to pay them on behalf of potential buyers may be just the push they need to close the deal.
Tips for handling buyer offers
What do I do when I get an offer? That’s a common question from sellers. If the offer is at or above your asking price, the answer may be easy. But remember money is not the only consideration. You may prefer a lower offer with better financing or a stronger buyer, or a more convenient closing date. When all factors are favorable, and the price is right, set the contract and reel in your buyer quickly!
Aim For A Sale
Remember while your aim is to get as much as you can for your home, the buyers aim is to find your lowest acceptable price. In the end, however, you’re both angling for the same catch: a sale on the best possible terms for both parties.
Evaluate Your Buyer
Find out as much as you can about whether the buyer can afford to purchase your home. You’ll gain peace of mind knowing your buyer is really qualified to pay the price you agree upon. Buyers who are pre-qualified have been to a lender and are more likely able to close on the loan.
10 things Realtors wont tell you
Let’s face it, no one likes to pay a real estate agent 6% to sell their home. Tired of paying such high commissions, many home owners attempt to sell their homes themselves (For Sale By Owner or FSBO). However, many of them realize that not being listed by a REALTOR® means not being able to take advantage of the most powerful marketing method in the history of real estate: the Realtor® Multiple Listing Service (MLS).
Staging Your Home to Sell
One of the first things to do before putting your house on the market is prepare your house for sale. You’ll want to show your house off in its best light to maximize your earning potential. Tour your house with the eye of a buyer – what works, what doesn’t work.
Curb Appeal
Does your house have curb appeal? Can you give it a little more pizazz to draw the buyer in? Would a bit of touch-up paint add dollars to the sale? What about the garden? Is the lawn in order and neatly edged? Are trees and bushes neatly pruned? Are flowers in bloom? If not, it may be time for a garden upgrade. Adding colorful annuals to the front garden will make a big difference. Remember, creating curb appeal will add dollars to your house’s final selling price.