HOW TO SUCCESSFULLY SELL YOUR HOME IN ANY MARKET

First, let me THANK YOU for taking the time to read this book. It is a quick-read, but chalked full of information to help you get started on the road to successfully selling your home.

CHAPTER 1 – PREPARE YOUR HOME TO SELL

For some, this will be hardest part of selling their home. The prep work for most major projects is always the hardest, but not to worry, keep reading to find out step by step what to do. Giving you this information via bullet point will make it easier to follow. First, grab paper and pencil and take a few moments to walk around your home. Pretend YOU are the buyer.  It will give you a different perspective on what needs to be done.

1. De Clutter/Eliminate- If you have lived in your home a long time you have most likely accumulated a lot of stuff. If there are items that you will not be using in your next home- give away or sell on eBay. (That is a rhyme to help you remember, however feel free to use Craigslist or Estate sales folks- we can help you with that too). Don’t forget the attic, garage and outdoor area needs attention as well.
2. Paint--You should easily be able to tell whether or not the interior walls of your home need a brush up by closely examining them, especially hallways and bedrooms. Scuffs, holes, and mismatched paint will not fare well when your new Buyer is examining the condition of your home. The same thing applies for exterior paint. We can help you with correct color selection if the walls need all new paint, whether exterior or interior.
3. Carpet and Flooring– This can be an expensive item. However, if the carpet or vinyl in your home is torn, chewed up or a pathway is worn through to the pad, you will probably want to replace it or offer a carpet allowance. That is an item we will discuss if we feel that is the right course of action for you and your pocket book. We will not be spending money unless it helps you sell your home for more!
4. General maintenance– Sometimes we just live in our homes and put up or put off fixing things that need it. If you have leaky faucets, previous ceiling leaks, termite tunnels that have been treated but were left behind, rickety railings, broken glass or windows that have lost their seal, dry rot, or general things that just need fixing, make a plan to do it prior to getting your home on the market. Chances are the home inspector for the Buyer will catch them anyway and then it can become a point of contention with your new Buyer.
5. Updates- This is always a tough decision because updates typically cost money. However, there are some things you can do that will not cost a fortune. Believe it or not, light fixtures and cabinet door hardware can be given an awesome facelift with spray paint, such as, the oil rubbed bronze color which is very popular right now. Painting is much cheaper than replacing, however if replacing is in your budget, light fixtures can often be found on sale and therefore, not a huge cost but make a huge difference. You can paint bathroom cabinets with Amy Howard low VOC paint either a light or dark color. It’s so easy and fast. Before thinking about any major remodeling or updates consult with us and we can guide you every step of the way! Also consult websites like Houzz.com and Pinterest.com for inexpensive ideas.

6. Pre-Inspection– This can save

you a lot of time and distress in

some cases. The inspection is

one of the biggest reasons

contracts fail. Many times the

Buyer will accept your

inspection, done by a reputable

inspector, because it saves them

time and money. Something for

you to think about and

something for us to talk about!

Cost is around $350-$450.

The bottom line is, we want to maximize your profits so we will advise you on how to best accomplish that by using our market research.

CHAPTER 2 –  UNDERSTANDING THE ROLE OF THE REAL ESTATE AGENT

A great Realtor will not only help you through this process, but will get you top dollar with the least amount of hassle! That may sound a bit salesy, but it is oh so true.

An experienced Realtor is your best friend in the role of selling your home and has a fiduciary responsibility to represent you. The Realtor should always be on your side, advising you, preparing you, negotiating for you, and most importantly being honest with you. For example, telling you what you need to hear when Buyers are not making offers.

We are here to help guide you with the first consultation. We talk thoroughly about the preparation of your home; staging, marketing strategies (pricing and advertising), the legal paperwork, and the ultimate transaction and closing.

With our 23 years of experience and selling thousands of homes, we have seen deals get off course. The good news is that almost all the time we can solve the problem and get back on course. I always say we are only as good as the people who work with us behind the scenes. Therefore, we affiliate with people who have the same work ethic we do to get the job done RIGHT!!

CHAPTER 3 –  PAPERWORK

Our KCRAR-MLS requires that we must have contracts to expedite our duties as agents as well as the transaction between the Seller and the Buyer.

The first contract/agreement you will sign will be the listing agreement which mostly stipulates the agent’s job description and the terms of the listing. It entails, the agency representation, the commission- who is paid, time frames and what services you will receive. This contract is between You, the Broker of the company and your agent.

The second contract you will sign will be between You and the Buyer. This contract is strictly between the selling and purchasing parties (Seller and Buyer) but does stipulate which party each agent represents.

Not to get to detailed here, but just be assured we will thoroughly explain everything pertaining to these important documents which are binding agreements between the parties involved.

CHAPTER 4  – PRICING YOUR HOME TO SELL

This is one of the most critical points of discussion pertaining to the success of selling your home. I believe pricing your home correctly is 85% of the marketing we do and all great Realtors agree with this fact. We do an extensive search of comparable homes in your neighborhood and closely surrounding areas. We look at homes that are currently on the market, under contract and/or sold, to determine what price will best suit a successful sale of your property.  I am not talking a fire sale. I am talking the best price to maximize your profits and sell in a timely manner.

When a home stays on the market for long periods of time because of overpricing, the home becomes “shop worn” as we call it. Simply put, many Buyers have tramped through your property and turned it down to purchase another home more accurately priced.

CHAPTER 5 –  STAGING

We have come to realize in the last 5 years the importance of staging a home to sell. This is why we offer free staging to our clients as part of our marketing. Staging provides a tremendous difference in how a home shows and is received by the buying public. Moving furniture in strategic areas for good traffic flow, eliminating some brick- a-brack, photos and decor will make a giant impact in the feel of a home upon entering. We hire our own professional stager to do her magic and make your home stand out in the crowd. We know this one thing will add value to your bottom line. But that’s not all……

CHAPTER 6 –  PHOTOGRAPHY

It hurts my heart when I see some of the photos other agents use that are displayed on MLS and other internet sites. We know that another critical piece of the real estate selling pie is top quality, high definition, and professional photos. However, a room cannot look complete unless the staging is there to allow a photograph to enhance the features of the room. So you see, these two actions go hand in hand with the presentation of your home. Even though cell phones take amazing pictures for some things, we believe professional photos do a much better job at showing the home’s true features and strategic angles. We want to put our best foot forward to prospective Buyers right at the beginning. It is like going to a formal wedding wearing a T-shirt and flip flops….well maybe in Hawaii. 🙂

CHAPTER 7  – MARKETING/ ADVERTISING YOUR HOME

We concentrate heavily on the Internet. The days are gone for most print advertising. Newspapers and magazines are unfortunately outdated and too slow a means to advertise properties. Buyers want to see what is for sale at lightning speed and the internet provides that route. So we advertise everywhere…. all major sites, Zillow, Realtor.com and many, many more. Most sites you probably never heard of but may have accidentally landed on when searching FOR property, because MLS syndicates. We also have contracts with other real estate sites on which we place advertising ads, such as Facebook. We pay for campaigns to boost your listing putting them out front and far above other homes for sale. We follow up with each and every lead we receive from our internet marketing.

The For Sale Sign that is placed in your yard is also an important factor to attract Buyers. People still like to drive around neighborhoods where they are interested in living. So, we may receive calls and emails on your property throughout the day and evening and we will take and return those calls to encourage a showing and/or a sale.

Open Houses are still a great way to get Buyers for your home. Sometimes a ton of folks show up and sometimes they don’t, but it can help get people in the door if showings are slow. One downside to note can be that the Buyers may not be pre-approved for a loan, when coming to view your home.

However, this objection can be overcome through our connections with our Lenders. You are not required to have an Open House. This is your choice and we can discuss in depth the pros and cons.

CHAPTER 8 –  THE CONTRACT TO PURCHASE

The best time to really explain the contract is when we have an offer on your property. We will go over every fine detail of what the Buyer is asking for. The contract typically consists of offering price, closing costs, a home warranty, closing date, possession date and at times personal property. A critical aspect of your contract is not only what the Buyer is offering but the time limitations that are placed on the specific contingencies of the contract. For example, you will have an expiration of the contract which means the Buyer’s agent has asked for a time limit on a response, as well as the inspection period, and the amount of time to procure the loan for the Buyer, just to name a few. The contracts are written to protect the interests of both the Seller and the Buyer and with 23 years of experience we are well equipped to translate all sections of the contract. Again, I want to assure you that we will be constantly supporting and advising you on your best course of action with your contract and keep you within state laws and statutes, as we know them. Once all the terms of the contract are agreed upon, we will be under contract and showings can continue for back up offers if you agree or placed in a pending status which no longer allows showings. We will discuss those options and you can decide the best course of action for you.

CHAPTER 9 –  CLOSING THE TRANSACTION AND YOUR MOVE

Once you are “under contract”, as the real estate term goes, there will be a flurry of activity. The first couple of weeks will be the inspection period where the Buyer and his agent will schedule a home inspector to come to your property. The inspection can take 2 to 4 hours depending on the size of your home and the quick assessment of the inspector. Generally speaking there will be a whole house inspection, a termite inspection and a radon inspection. Although the last 2 inspections mentioned are pretty self-explanatory, the whole house inspection will entail an examination of the foundation, roof, exterior materials such as the siding, windows and gutters, as well as plumbing, electrical and the interior condition such as sheetrock cracks, ceiling leaks, etc.  If there are lots of repairs or problems, the Buyer may request those items to be repaired or replaced before closing. (Remember I mentioned the pre-inspection to avoid some of this). Cool heads and an air of cooperation will see us through to negotiate the items in question and we will once again be moving forward towards closing.

Once the inspections are agreed upon and both parties have signed off, it will get pretty quiet on our end. This is the time for you to concentrate on moving. Get your mover lined up as they may be 2 weeks out or more in many cases. Our team and the Buyer’s agent team will be feverishly working on procuring clear title work and the loan process for the Buyer. About 2 to 3 weeks before the closing, the appraiser will reach out to me for an appointment to view your home. Don’t worry if your home is in a mess from moving. Appraisers are used to this and can generally see the amenities and features of your home amidst moving boxes. If the value of your home comes in below the agreed upon purchase price…. Be assured that we will be on top of any of these issues to work through them. This is a rarity, so no need to be nervous.

All repairs and items on the Resolution of Unacceptable Conditions document which You and the Buyer agreed upon will need to be completed a few days before closing as the Buyer will most likely request a walkthrough before closing to make sure all those repairs have been made.

Please remember to forward your mail, take utilities out of your name on the designated possession date and make your home ready for the new owner.

Finally, I know this can be a nervous period of time because of the many contingencies of the contract of which I have just lightly touched on, but again be assured that we have traveled this road many times and know how to handle all situations.

We want this to be a happy and exciting time for you, especially if you are moving to your new dream home. Most homes close on time with few hiccups!

.

CHAPTER 10 – SELLING WITHOUT A REALTOR- GOING IT ALONE

This is kind of the elephant in the room for some folks who would like to try to sell on their own but are afraid to ask the Realtor if it is really a wise decision. And yes,15% of people do successfully sell their home on their own. But there are some things that you need to be aware of when trying it on your own.

1. Correct Pricing- Pricing your home to sell is such a critical aspect of successfully selling your home. And it is more than just the beginning asking price that you advertise. What if you don’t get Buyers to view your home or make offers? We can interpret the market and find out why it is not selling.
2. Open Houses- Having good sales skills are important to be able to talk to your prospective buyers. Questions that need to be asked are, Have you qualified for a loan or are you paying cash? Do you have a home to sell? These are actually delicate questions that are personal and not everyone just offers up that information.
3. Advertising- Zillow is a website used by a lot of Buyers to shop for homes and a site that allows “By Owner” properties. However, it is not syndicated like MLS. This simply means that MLS, the website where your listed home is advertised, sends its information to hundreds of websites around the world where Buyers can and do shop. This is the Realtor’s most powerful tool to advertise your home all over the internet.
4. Contracts- If I were going to sell on my own, I would probably hire an attorney. That could be expensive, unless you had a friend or relative who is an attorney. However, you would still be better off to have the legal protection and advice. Unfortunately, we have seen deals go bad and even though we have never had a law suit, those things do happen. You want to be very careful to make sure all aspects of a contract represents you in a fair and equitable way…not one sided, but fair to both parties.
5. And while I am on the subject, it is a good idea to have a Sellers Statement of Condition. Our KCRAR board contracts require the Seller disclose all they know about the property during their ownership. That way it is less likely that a Buyer will come back to you stating you never told him that the basement leaked in heavy rains, for example. The rule for us is “Always Give the Buyer Full Disclosure”
6. The other 85% of people, who tried to sell on their home, did eventually engage the help of a Realtor and many times sold the home fast and for the same or more money. If you decide to try by owner, get the advice of a good trusted Realtor to guide you and these days it is a good idea to agree in your advertising to work with and offer a commission to a Buyer’s agent who may have that perfect Buyer for your home!

In closing, I hope you enjoyed this little book. My goal was to give you an overview of what you can expect if you are contemplating a move and enlighten you to the fact that there are some tried and true basics to successfully sell your home. Couple that with our knowledge, expertise and experience and you have a Winner!!

It has been my pleasure to introduce you to this information and my wish is that you experience a wonderful and happy sale!

Thank you and we hope to hear from you soon!  All The Best to You!

Cynda Sells Realty Group

FREE REPORT

THE 5 BIGGEST MISTAKES HOMEOWNERS MAKE WHEN SELLING THEIR HOME AND

HOW TO AVOID THEM!

Are you thinking about selling your home and don’t know where to begin? This Free Report will give you some great insights as to how to avoid the costly and timely mistakes that can happen during the process.   It may look easy to the outsider who watches an agent place a For Sale sign in his neighbor’s yard and then a day later a Sold sign appears, but actually just getting to that point involved a detail plan where many different professions were involved.   If selling a home is something you have never done, you may not be aware of the time and effort that is spent in just the preparation to sell.  Finding the right Realtor is your first crucial step. She will lead the way to coordinate working with Lenders, Title companies, Inspectors, appraisers, stagers and photographers and many times, contractors to make repairs.  All these people will be working hand in hand to expedite a successful sale for you. So read on and find out how to avoid mistakes and get the most money for your home with the least amount of hassle!

1. OVERPRICING- I am listing this as a number 1 mistake because it is the most common one and the one that will cost you the most time and money. Everyone wants to get the most money they can for their home, right? And it is easier than you think if you trust the advice of an excellent Realtor who has provided comprehensive data showing you a range in which your home will sell. The Comparative Market Analysis is your blueprint to follow with regards to homes for sale, under contract and sold in your area. The CMA provides not only statistical data but pictures, tax information and the history of previous sales so you will have a real good feel for the right price.   If you ever sold a home that started out overpriced you will remember, the days and months lost trying to find a buyer, the continued mortgage payments, the additional interest you paid on your loan, as well as the taxes, maintenance and utilities. Buyers always purchase the best properties first and ones that are priced correctly. A home in great condition and in a great location will consistently sell for the most money. Price it right out of the shoot and you will sell FAST and for the most money!
2. NOT PREPARING YOUR HOME TO SELL- Would you buy a car that was filthy, had bald tires, a rusted frame and tons of mileage for the price of a new one? No! Well the same applies for buying a home. So don’t make the mistake of taking for granted a buyer will buy anything for more than it is worth just because you are in the hottest market ever. Do this instead- Declutter and Eliminate things you no longer want and need. If you have not used it for more than 2 years, you probably never will. (This does not include Grandmas’ heirlooms). Update if possible and if necessary. Clean and/or replace carpets, paint interior and exterior if needed. Just making your home fresh, clean and inviting can attract the right buyer and bring you more money. Be sure to consult with your Realtor before doing extensive remodeling and updating to make sure the current market will bear the expense.
3. NOT HAVING YOUR HOME PROFESSIONALLY STAGED- Staging is extremely important to showcase the beauty and unique features of your home. Staging simply means having a professional stager strategically place furniture and décor making a difference in how your home is presented to the buying public. If you ever visited a builder’s model home you probably remember the beautiful way it was decorated. Staging is quite similar, only this time we use your furniture and decor to create a more appealing overall look. Buyers want to see the permanent features of your home such as granite counter tops, fireplace design, flooring and size and colors of rooms, not all your personal stuff, so eliminating those things will be important. When I talk about personal stuff, I mean personal and family photos, posters, awards, religious decor and general clutter. If you have good “stuff” (trendy furniture and decor) the stager will use these items to create an inviting ambiance and help your prospective Buyer visualize what their home could look like after you leave. Another even more important reason to stage your home is it will get you more money.  Statistics show that a staged home will sell for 17% more money on the average than a non-staged home and 95% of staged homes sell in 11 days or less over a non- staged home….two really awesome reasons why you need to take time to get your home professionally staged!  A great agent will have a Pro Stager on staff to facilitate this for you.
4. NOT USING HIGH DEFINITION PROFESSIONAL PHOTOGRAPHS- Another extremely important element to getting your home sold quickly and for the most amount of money is having fabulous photos. Remember the old saying “A picture is worth a thousand words”? Well that saying is even truer today than it was years ago because 95% of Buyers shop online. The Buyer of today wants instant gratification in their search for homes. They want to see every detailed feature of the inside and outside of a home in full color and in the comfort of their jammies in front of the home computer. Take note however, that Staging and Photos work hand in hand to accomplish the goal of presenting your home and making it look its best! You cannot have one without the other. By doing these two important things, your home will be dressed for the party and dazzle the first Buyer who views your home!
5. SELLING YOUR HOME ON YOUR OWN-Some folks just think they are wiser than a great Realtor and admittedly some have successfully sold their home by owner. However, only 15% of by owner Sellers successfully sell their home. The other 85% of folks who tried but did not succeed listed with an agent and happily received the same amount of money or more in the end….with a lot less worry and headaches. Here are some additional key questions to ask before you take the leap down the sell by owner road.
6. Can you handle negotiations with the buyer with regards to price, inspections and appraisal?
7. Can you handle the legalities of the contract? Who will prepare it correctly for you to protect your interests?
8. Will you be giving a full disclosure of everything you know about your property in a detailed manner to protect you from a law suit?
9. How will you advertise your home? – It takes more than just Zillow to sell your home. Ask people who advertised there and why they did not successfully sell their homes. Marketing and advertising has a specific plan of action that needs to be expedited every day to attract Buyers. Great Realtors use different modes of advertising and marketing to attract a broader buyer pool.
10. Who will stage and do professional photos of your home? On that subject, I agree that cell phones take great pictures but not the best pictures when it comes to presenting your home in the best possible way. You probably would not take pictures of your daughter’s precious wedding with a cell phone…right? Read Mistake #4 to get more info on that.
11. HIRING THE WRONG REALTOR- Sometimes folks casually hire a friend, relative or neighbor to sell their home because they think it is an easy process. It is wonderful to work with friends, relatives and neighbors but realize your home is most likely your greatest asset and this is your money. Selling your home to a qualified Buyer becomes a legal and binding contract between You and the Buyer. Therefore, the transaction must be treated with great knowledge, care and skill to protect your interests. So in order to make sure this person is the best Realtor to sell your home, ask these pertinent questions.
12. How many transactions have you done this past year? If the Realtor is a newbie and you want to help them get started that is great, but make sure they have an experienced mentor or Broker behind them, guiding them every step of the way.
13. Will you provide a professional Comparative Market Analysis designed specifically for my property? This data should give you an accurate listing price, days on market as well as homes that are active, pending and sold in the last year using comparable properties in your neighborhood. Don’t rely on an offhanded price verbally given based on just an opinion. A professional Realtor gives you credible facts.
14. What kind of advertising do you do? A comprehensive marketing/advertising strategy is specific as to what they will be doing to advertise your home. The marketing/advertising strategy should also include professional photos and a staging plan.
15. Can you give me advice on how to prepare my home to sell? Can you provide an available list of vendors and subcontractors that I can reach out to for help if I need repairs or replacement of certain components of my home? An experienced Realtor has many people they affiliate with in the housing industry to call on when needed. Inspectors, handymen, electricians, plumbers, pest control companies and the list goes on, for almost everything you would need.
16. What paperwork will be required and can you explain its purpose? At times, we see nightmare situations where the listing contracts were not filled out or explained correctly and the homeowner has no idea what they have signed. Not an immediate problem until later when a situation arises that needs to have the paperwork reviewed to address what went wrong and what legalities are necessary to fix it. This is why I believe explanation of contracts and filling them out properly is so important. If this happens on the other end, be assured on our end, that as an experienced Realtor we can most always access the people needed to help clean up a transaction before it gets legally messy!

THANK YOU for taking the time to read this Free Report. It was designed to give you a quick and accurate reference to information you would need to know about the home selling process and things to avoid before making some serious decisions.

If you’re thinking about selling your home now or in the near future please reach out to us at 816-600-7355 OR visit us on the web at www.CyndaSells.com!

Cynda Sells Realty Group LLC

211 NW Executive Way Suite J

Lee’s Summit, MO 64063

cyndasells@gmail.com

How To Sell Your Home Fast

Follow me step by step as I take you through the  process of how I built my dream home with Bellah Homes here in Lee’s Summit, MO!

http://cyndasells.com/built-dream-home-bellah-homes/

 

 

 

PART 1- FINANCIAL SET BACK

You just lost your job of 23 years. You still have kids at home and a mortgage. You are the primary wage earner of the household and with all the financial responsibilities of your 2 kids and a wife, you have very little savings. Does this sound familiar? Since you are 55 you may have difficulty finding another job quickly. Maybe you had thought about downsizing your home in the future since the kids are close to graduating high school but now it seems imminent to make a quick decision.

Sometimes Life shows up forcing us to make hard decisions.  I learned through my own experiences, not to wait but to act quickly, find the right people to help me and make the needed decision that would work best for myself and my family even though it would be painful and hard to do.

In this 3 part series of how to handle financial set back with regards to  real estate, we will present some scenarios  and offer advice about what you can do.  The 3 parts discussed are job loss caused by a forced retirement, age, illness, or lay offs as one category and then divorce and death of a spouse as category 3 and 4.  Part 1 will address job loss. We will talk about how to manage expectations and tips on how you can best meet these challenges with regards to how to sell your home and/or other real estate holdings.

The fact is losing a job because of illness, lay offs and/or age can be devastating, especially if your savings is not enough to carry you through for at least a year or until you can find employment again. If age is a factor, there might not be another job to replace the one you held for many years. Technology has eliminated many jobs for older more highly paid workers and these jobs are being replaced by younger workers who will work for less money.  If you still have a mortgage on your home, paying that mortgage as well as other monthly bills can be overwhelming or impossible. If you think staying in your home could be an option seek professional advice from your accountant or financial planner.

If selling of your property is imminent then seek  the help of a qualified Real Estate agent. Here are some tips for making that very important choice.

1. Getting a referral from a professional who uses Realtors in their practice is sound advice. It could also be a family associate but make sure they have experience with a distressed property situation.
2.  Look for an agent that has had experience dealing with short sales, disbursement of personal property, and has an team of people that can help you. I am talking about, estate sales people, painters, plumbers, handymen, attorneys for legal advice, lenders, etc.
3.  You also want a Realtor who has compassion for your situation and will work with you in a consultative fashion, give you the time and advice you will need even if it takes a while to prepare to sell the home or weed through other situations that will impact getting it on the market quickly.
4. Ask lots of questions so you can make quick decisions if needed in order to avoid a short sale or foreclosure. Don’t bury your head in the sand. Take ACTION!

In dealing with these situations, I have found that some people can move quickly and feel good about their decisions while others drag their feet hoping the problem will solve itself or miraculously disappear if they just stop thinking about it. As we all know, problems of this magnitude do not just disappear, they must be dealt with as quickly as possible using sound advice.

Recently I was contacted by a lovely couple who needed to sell their home.  Unbeknownst to me they had been advised by their financial planner to sell their home a year prior to our meeting. Mr. Seller had been out of a job for over a year but was hopeful to regain employment in the industry which he had worked for 30+ years. He was a man over 65 and companies were just not hiring for his particular skill set. Unfortunately in dragging their feet  to sell their home their savings were running low and so by the time we got together it was “we need a quick sale”. We sold their home fairly quickly for a good price which afforded them an opportunity to put down a good chunk of money allowing them to substantially reduce the next mortgage making the new payment very affordable. After finding their perfect home again, we contacted the lender to procure the loan and much to our dismay we discovered they were 30 days late on their current mortgage and had asked for a forbearance.  Forbearance granted by your bank means  you may be able to stop making payments or reduce your monthly payment for up to 12 months. Interest does continue to accrue on your loan and is tacked on to the original loan making you owe more when you close out that mortgage. It can also be reported as late pays to the credit institutions which it did in this case. For some homeowners, forbearance in and of itself could be an option to stay in the home longer if you knew that your shortage of income was temporary and a new source of income was on the horizon, but a bad option if you have to sell and are looking to buy again quickly.

To make a long story short because of their prior exceptional credit history and the large  down payment, the lender was able to keep the loan “in house” and make the deal happen.   The real moral here is that the Seller waited too long to make the decision to downsize and then did not seek advice from the Realtor or lender before deciding to ask the bank for the forbearance.  If this had gone on for several months it would have caused them not to be able to get another mortgage for several years.  Another factor to this situation was the necessity for a quick sale. The real estate market is very healthy right now and good homes are selling quickly and for a good money. But what if that had not been the case and market was slow?  We would have had to continue to drop the price on a weekly basis until we finally got a buyer. Can you see how selling under pressure can substantially impact the sellers bottom line.  I certainly understood the embarrassment they must have felt about not being able to make their house payment but know that you need to be able to rely on the professionals to advise you. They do want to help and all information is confidential.

Here are a list of questions you might find helpful to ask when looking for a Realtor to help you sell your home in a distressed situation?

1. What is a realistic time frame to prepare my home to sell?
2. How quickly will it sell and for what price?
3. Will I still be able to capture full market value if buyers know we are in a hurry and need to sell quickly?
4. Can you help me find other trades for preparing my home to sell and making repairs?
5. What happens if we cannot sell my home quickly?
6. What happens if I owe more on my home than I can sell it for?
7. Will I be able to find a new home to buy for what I can now afford?
8. Can you help me  find a lender to buy another home?

These questions will and can be easily answered by a Realtor who knows what they are doing, has handled similar situations and cares about you. So Don’t be afraid to ask!

Up next how to handle the sale of properties in a divorce situation.

 

 

 

 

 

 

separation agreement, marital property, property settlement agreement, property settlement, legal separation, divorce settlement agreement, financial wellness, starting over after divorce, set back, financial set back, refinance, mortgage advice, what is the market value of my house, what happens to my home when I lose my job, help with mortgage, lost my job, mortgage default, prevent mortgage default.