How to sell your house fast before foreclosure

Being foreclosed on is not a pleasant event, and it can affect your credit score and make it excruciatingly difficult or even impossible to obtain a home loan for the next seven years. Seven years! To avoid this type of disaster credit, one of the best options to consider is selling your home. However, in many situations, you will need to do this quickly to avoid foreclosure. While foreclosure is a process that can take anywhere from a few months to a year, selling a home can also be a bit of a lengthy process, so start thinking sooner rather than later, “I need to sell my house fast.” !” If foreclosure is coming and you know it, read on to minimize the damage to your financial future.

decide the price

Since you’ll want to sell your home quickly, you probably won’t be able to sit around waiting for the perfect buyer to come along and pay the price you think you deserve. In fact, it’s much better for you to take a hit on the money you receive for your home rather than foreclosure. This will require aggressively pricing your home, and definitely not overpricing it. To ensure a quick sale, you’ll want to attract potential buyers thinking your home is a bargain. Look at the final sales prices of other similar properties in your neighborhood that have recently sold and subtract 10 percent from that average to arrive at your aggressive sales price.

However, if you find yourself in the unfortunate state of owing more than your home is worth, you’ll need to take even more steps to complete what’s known as a short sale. To do this, you will need to work directly with your lender to get their acceptance of the sale. While not having the money to make up the difference between the short sale and what you still owe on the house can also hurt your credit, it won’t be as bad as the aftermath of a foreclosure either.

Sell ​​my house fast!

Once you’ve priced your home, it’s time to start marketing it. Go online and post your home on every listing website you can find. Even if money is tight, hiring a professional photographer to take photos will dramatically improve the reception you get from buyers searching online. You’ll also want to trade in cheaper things that can make a house look new. This includes paint, carpeting, and other cosmetic changes that are inexpensive in nature but can make a big difference in the overall feel of a home. By doing the legwork to market your home and price it right, you can sell it quickly and avoid the horror of foreclosure.

Leave a Reply

Your email address will not be published. Required fields are marked *