subject: Stopping Foreclosure - How To Get Your Home Ready For A Fast Short Sale [print this page] If you're a homeowner facing foreclosure, one of the things you can do is a short sale. However, as with any home sale, there are things you can do to hasten the sale. The short sale tips discussed below can mean the difference between selling your home quickly, or not selling it at all.
Before we discuss what these tips are, let's briefly define the term, "short sale".
Stopping Foreclosure: What Is a Short Sale?
A short sale is when a home is sold for less than what is owed on the mortgage. In today's foreclosure-ridden market, it's a solution many buyers and lenders are agreeing to quite readily.
Whether you're doing a short sale or not, here are five things you should do to before putting it on the market to be sold.
Stop Foreclosure: 5 Things Every Homeowner Can Do to Prepare Their Home for a Short Sale
We call these the five "de's" of preparing your home for a (short) sale.
I. Detach: As in, emotionally. When you're facing foreclosure, it's an emotional as well as legal process. So, take a little time to prepare yourself; to detach emotionally so you can face what lies ahead.
Detaching emotionally tip: Keep in mind that a home is made up of the people who live in it; not the bricks and mortar it's constructed. Hence, as long as your family remains together, "home" will always be with you.
II. Depersonalize: One piece of advice Lisa LaPorta, the HGTV designer and host of "Designed to Sell" & "Bang for Your Buck", always gives to homeowners it to depersonalize. What she means is, when you're trying to sell, the space is about the people who are going to be moving in. It's no longer your space.
In order to help buyers picture themselves living in your house, you have to help them along by removing your pictures, knickknacks and other personal items.
III. Declutter: If you've ever watched an episode of A&E's "Sell This House," one of the first things the designers do when they come in is to clear away the clutter. Then, they bring back in only essential items.
Most of us don't' realize how much stuff we accumulate... until we get ready to move. Clutter, even in a clean space, can make it appear cramped, unclean and all-around uninviting.
A decluttered space, on the other hands says, "new", "clean", "modern", "crisp... BUY ME!
IV. Decrease the Price:.... if you have too. If you're doing a short sale, you are already selling for less than what is owed. But, you may have to decrease even a short sale price, especially in today's market. Be prepared.
V. Deodorize: All five senses are involved when prospective buyers are looking at your home. And, smell is a critical one. If you have family pets, or you smoke, for example, it's likely that you don't even notice the odor. But, prospective buyers walking in will. So, deodorize.
This can be as simple as lighting some scented candles. Or, it can be as complicated as painting, throwing out and/or reupholstering smelly furniture.
If you do these five things, you will be well on your way to selling your home, stopping foreclosure and getting on the road to your new life.
