Short selling a property may help a homeowner get out of a really bad mortgage, but there are some mistakes commonly committed by people who plan to put their homes in a short sale. And the most common blunders are the following.

Putting an unrealistic price on the property, this is one very common mistake where homeowners tend to short sale a house at an unrealistically low price. Though houses sold in a short sale are priced below market value, but it does not mean that you will have to price it so low that it is almost like giving away the property.

In this case, you won’t have a hard time finding a buyer but the problem is getting a lender to agree with the price. Before the short sale will go through the lender must accept the offer, therefore a property with a price below market value is a guarantee that it will be sold in a short sale unless the lender accepts the offer.

Marketing the property thoroughly is also one of the things that sellers oversee. Lack of marketing will make your property stay on the list for a long time that is why you need to spend time and money letting the world know that your property is up for grabs. Just like any other thing that is for sale, it should be advertised and marketed well to reach more prospect clients/buyers to be able to sell it fast contact

Not being flexible and accommodating, this is something that can actually make a short sale fail. To make the short sale work, you need to be accommodating to buyers, though many realtors will try to come and try to set restrictions on the property, like when can prospective buyers view it but you have to ditch this restriction and always accommodate anybody and everybody who wishes to view the house. Make viewing available anytime, on nights and weekends to sell it as quick as possible.

But before all that we have said above, I think the first thing to do is to prepare the property and put it in a decent condition. This may involve a few changes on the property, like mowing the lawn, fixing broken steps on the porch, changing the carpet and painting and fixing small holes in the wall and the ceiling.

Never show a dirty house to buyers. Make sure the house looks good and appealing, it shouldn’t be grand but should look livable and without damages because it will definitely turn away buyers. Keep it clean at all times especially of potential buyers would come over to view the property.

Avoiding these common mistakes would definitely help you make your short sale journey a success. Though it may seem sad that you are letting go of a home that has become a part of your life at one point but for sure you will be glad that you let go of a bad mortgage that goes with it.…


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