A lot of homeowners in Overland Park try to sell their homes when they see that the foreclosure is looming. Their goal is not just to sell the house, but to get it done quickly. What do you do as a homeowner in such a situation? Get aggressive, and be quick to sell your home! As a seller, you dominate the only three factors that influence the rapid sale of your home: pricing, advertising, and condition. Here are a few simple steps and some secrets to get your home off the market in record time!
What is Foreclosure?
Foreclosure is a formal process in which a lender tries to regain a borrower’s balance of a loan. It usually happens when the borrower has stopped making payments to the lender by pushing the sale of the property used as the loan collateral.
In such a situation, it becomes essential to sell your home. Read below to find out how you can sell your home fast.
Why Sell to a Cash Home Buyer?
Generally, the process of selling your home to a cash buyer is very simple. The simplicity makes selling home to a cash buyer enticing for many people, particularly those who are rushing to sell their house, such as those in the Pre-foreclosure stage.
Selling to a cash buyer has many other perks. Read below to learn more:
1. You Get All the Money from the Sale
You get to bypass all the annoying closing and realtor fees that come with a traditional sale when you sell your home to a cash buyer. The above means you will be successful in keeping the total amount of what the buyer has to offer you for your home! You will not have to share it with a real estate agent. ALL IS YOURS.
2. Sales Happen Much Faster
There is also much quicker processing in sales to a cash home buyer than attempting to do a conventional deal with a realtor. You will not have to wait around to have someone interested in your home.
Moreover, you will not have to worry about running from banks and preventing buyers from taking out a loan. Usually, you will be able to sell your home in a day, and you’ll have money in your pocket just a few days after reaching out to a potential cash buyer.
3. Sales are Less Likely to Fall Through
If you have ever sold a home before, then you know how frustrating it’s to come to terms with a last-minute buyer. Buyers often find out they are not qualifying for a loan at the last minute or, they decide they no longer want your house. It can be a nightmare for someone in Overland Park, who is selling their home because of foreclosure. So as long as you work with a reputable cash home buyer like Ashland Real Estate, you need not think about them getting out of the contract at the last minute. Once you have the cash in your hands, it is yours.
4. No Repairs are Needed
There’s also no need to do extra renovations or deep cleaning your house to prepare for selling your home when you’re dealing with a cash home buyer. These buyers are looking for “as is” homes, and they mean it. Any harm, foreclosure, or any other situation at the house, will not dissuade the cash buyer, which may make it difficult to sell a home in a traditional deal.
Selling to a cash buyer is the best option. However, if you wish to sell some tips traditionally are below:
Don’t Overprice Your House
Don’t overprice the house and be clear about what you want. If you want your home sold, make sure that you are aggressively pricing it, and that means low. If your home is overpriced, it won’t even be seen by some buyers because it will seem out of their price range. Many buyers will concentrate on seeing properties whose pricing appears more realistic to them. The house is going to stay on the market longer than it should.
Worth of Your House
Get real about what the value of your home is. Ask your realtor to prepare a Comparative Market Analysis (CMA) showing similar homes recently sold in your neighborhood. If you’re committed to getting it sold quickly, take selling prices (not list prices) from your area’s most recently sold homes and then go down 10 percent or so to get your list price from there. It seems like a steal when a house is marginally underpriced. Further, customers would come out to see it, and chances of getting an explode skyrocket of a suitable bid.
Don’t Wait Too Long
Ensure that you understand precisely how low you can go: and when dealing with a home facing foreclosure, know that you don’t have much time. A buyer won’t pay a premium price for your home simply because you owe that to the lender. If you owe more than the value of your home, give your lender a call, complete a short-selling application and ask your lender to provide you with some impression of how low they will accept a sales price. Comply your list price to that (remember to consider the closing costs); a short sale defects your credit but not as badly as a foreclosure!
Marketing Your House
Ensure that your realtor advertises your house well, so it appears on the internet. It is the responsibility of your realtor to advertise the house, but you should ensure that you or your realtor has done it. More than 80 percent of home hunters begin the search for their home from google. Thus, your listing must be on one of the top property investment listing sites. Online marketing is completely free; if your realtor posts your house on five sites, the posting on ten more costs you nothing but time.
Condition of the House
Ensure that your house is in good condition. If you face foreclosure, you may not be able to manage the time or money to do major repairs. Concentrate on affordable things, but make a crucial reconstructive distinction, like paint and rug. Ask your realtor link you to a carpenter who can fix cracks in the tile, fix small leaks and patch scrapes and holes in walls. If you don’t fix them, those things are cheap to fix and leave a negative impression. Every time a buyer steps inside, make sure that your place is exquisite. Piles, messes, and odors make potential buyers incredibly unpleasant and can even cost you a sale.
Many potential buyers who want to buy your house may have difficulty in doing so due to monetary reasons. Offer such concessions as assuming your loan (with the consent of the lender), leasing an option to buy, or closing cost credits that will help the purchaser defray closing costs or buy down the interest.
We know that getting hit by foreclosure can be tough, but you can always sell your house to a cash buyer if you are looking for a quick sale. You can contact Ashland Real Estate to get the best deals and sell your house quickly when facing Pre Foreclosure