Tips for a Short Sale of your home

Posted by Kamica Hampton
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You know how there are some houses that are on the market for a few days and the next thing anyone knows; they are sold?  That is what is known as a short sale, and while there are some factors that certainly can allow for a rapid sale that are beyond your control, such as the location of your home, there are some things that you can do to nudge the process along yourself.

-          If you were a buyer – would you buy your house?  Why would you?  Why wouldn’t you?  Fix the things that you don’t like, but don’t do it to your tastes; do it to the tastes of the buyers that will be looking at your home.  Buyers like move-in-ready properties, so do your best to make your house desirable to possible buyers.

-          Choose the best real estate agent you can find.  Yes, it might be overstating the obvious, but a well qualified agent has sold many, many houses and can read buyers before buyers know what they want themselves, and this can lead to a short sale of your house.  They also know how to stage your house and make it look it’s very best from the outside in.

-          Market, market, market your house.  And then market it again.  And again.  The more information you get out about your house, the more likely it is that buyers will become interested in it, and that can allow for a quick sale.  Put out flyers, photos, and list it on as many websites as you can to expose your home to buyers.

-          Incentives often drive offers.  Extra perks, such as an allowance for a washer and dryer, or a redecorating allowance, and even money toward closing costs can be a terrific way to draw buyer interest.  When you’re getting desperate, throwing in incentives can be a great way to encourage potential buyers to choose your house over the others.

In some cases, a short sale just might not happen.  Remember that buyer demand will have a lot to do with how quickly your house sells, and it might take some time to get the right buyer to your home, so consider other options, such as renting your house.

Categories: Home SellingGeneralEducation
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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