Selling Your Foreclosure Property
Inspection before selling your foreclosure home
You bought a foreclosure home and now you are selling it.
Seller home inspection or pre-listing home inspection is a technique used by experienced real estate agents and investors to avoid last-minute problems and unnecessary negotiations to reduce price. You can command a higher price for your foreclosure property and have a fast and smooth settlement. You sell fast as your foreclosure property will practically problem-free.
You close your sale faster as buyer's inspection will be easier with no or minimal problems in foreclosure inspection report. Finally, you will receive higher price for your sale as your buyer will be buying a well-maintained property with no serious problem to worry about as you will get a chance to fix in advance.
You can do your own home inspection by learning some inspection techniques to detect problems and do your own repairs by yourself to save money. Review Foreclosure Inspection section to learn how you can do it yourself as before buying a foreclosure house. You may also consider hiring a handyman or handle foreclosure repair by yourself at a minimum cost.
How to get the best price in selling foreclosure home and sell it fast?
Make your home sale attractive!
- Add a unique feature to your real estate property that people will remember. Home warranty for one year is not expensive (around $300). You can negotiate a higher price by offering this type of warranty.
- Use multiple media to sell your house. Selling fast is more important.
Foreclosure home selling advertising tips
- Don't give your property address in your ads.
- Qualify callers over the phone to save time.
- Put price in your ad to eliminate bargain-hunters.
- Use some attractive phrases such as low down payment, excellent terms, great neighborhood, etc. to sell your home fast.
- Spend few extra dollars by adding some words that will create a nice mental image of your house.
How to sell foreclosure property?
(1) Selling through a real estate agent. In the past Multiple Listing Service (MLS) system was only available to real estate agents. Now, it is available for a low fixed fee.
- Ask your agent to do "open house" on selected weekends.
- Monitor your agent's ads in the newspapers.
- Don't give more than 90 days for listing by one agent. Change agents, if one doesn't work efficiently.
- Insert a buyout clause in the agreement to allow you to sell.
(2) Selling your home by yourself. If you don't have the experience or somebody helping you, trial and error method may be painful. However, there are companies specializing in helping home sellers practically providing all real estate services that you can imagine.
Real Estate ABC has good articles on homes for sale. A good and unbiased source of information on selling your home is U.S. Department of Housing and Urban Development that is behind of most homes for sale.