How to sell your house fast before foreclosure

Being foreclosed is not a pleasant event, and it can affect your credit score and make it unbearably difficult or even impossible to get a home loan for the next seven years. Seven years! To avoid this type of disaster credit, one of the best options to consider is to sell your home. However, in many situations, you will need to do this quickly to avoid being foreclosed on. While foreclosure is a process that can take anywhere from a few months to a year, selling a home can also be a bit of a lengthy process, so you need to start thinking sooner rather than later, “I need to sell my house fast.” !” If foreclosure is coming and you know it, read on to minimize the damage to your financial future.

decide the price

Since you’ll want to sell your home quickly, you probably can’t sit around waiting for the perfect buyer to show up to pay the price you think you deserve. In fact, it’s much better for you to take a hit on the money you receive on your home than a foreclosure. This will require pricing your home aggressively, and definitely not overvaluing it. To ensure a quick sale, you’ll want to attract potential buyers who think your home is a bargain. Look at the final sales prices of other similar properties in your neighborhood that have recently sold and subtract 10 percent from that average to arrive at your aggressive asking price.

However, if you find yourself in the unfortunate state of owing more than your home is worth, you’ll need to take even more steps to complete what’s known as a short sale. To do this, you will need to work directly with your lender to get their acceptance of the sale. While not having the money to make up the difference between the short sale and what you still owe on the home can also hurt your credit, it won’t be as bad as the consequences of a foreclosure either.

Sell ​​my house fast!

Once you’ve priced your home, it’s time to start marketing it. Go online and list your home on all the listing websites you can find. Even if money is tight, hiring a professional photographer to take photos will dramatically improve the reception you get from buyers searching online. You’ll also want to trade in cheaper things that can make a house look new. This includes paint, carpeting, and other cosmetic changes that are inexpensive in nature but can make a big difference in the overall feel of a home. By doing the legwork to market your home and price it right, you’ll be able to sell it quickly and avoid the horror of foreclosure.