A foreclosure notice is perhaps the most devastating thing for a homeowner. You feel like you have already lost your home and cannot control the situation. In most cases, homeowners threatened by foreclosure get into a state of constant stress, not knowing their next step.
After receiving the notice, sitting around or ignoring it won't help. In fact, it may make things worse as you will lose your home and ruin your credit rating.
If you have spoken to a real estate lawyer and lack other options, consider selling your home. Yes, you may lose a home where you have lived for years with your family - but you will prevent getting a bad credit score and the embarrassment of foreclosure.
Here are the best tips on selling your house fast before your lender claims your home.
Trust on A Licensed, Experienced Realtor
Eighty-nine percent of people who want to buy or sell a home go to a real estate agent. Since the homeownership rate in the U.S.A is gradually increasing, more people are looking to buying houses. In the fourth quarter of 2020, the rate was 65.8%. This year's ownership rate will be at 65.1%, just like in the last quarter of 2019.
Knowing that the interest in buying is high, you can rest assured that you will sell a home quickly. A proficient real estate agent will understand the urgency of the situation. Thus, selling the house before your lender claims ownership. Therefore, you will repay your lender without worries. To avoid a foreclosure staying on your credit report, find a reliable realtor that will make the problem go away.
Stage Your Home
Did you know that staged houses sell approximately twenty-five percent faster than the rest? Before you sell your home, try remodeling or generally making it look good. Some hacks you will definitely find helpful are:
- Give your home a good scrub – deep cleaning will enhance your home's appearance and grab potential buyers' attention.
- If you can afford a new coat of paint, do it!
- Move some furniture to create space and make your house look roomy.
- Ask your realtor for their honest opinion, and don't disregard their guidance.
- Remember, the home has to look presentable for the buyer, so if you can outsource cleaning and remodeling, do so.
Marketing and Pricing
Even if you have an accredited realtor helping you, try to market your home as much as possible. Furthermore, you are the one who stands to benefit. Turn to social media platforms and flyers to market your property. With the right marketing strategy and professional assistance, you can list houses and sell in no time.
Additionally, do not price your home too high or too low. Have an understanding with your real estate agent – who will give you an honest appraisal of your home. Don't lie to yourself about the current market price of your house, and don't salvage belongings that are not valuable.
Hire a Realtor Today
Before you start selling a home, ensure you update your lenders. That way, you will avoid future inconveniences and miscommunication.
If you are at risk of foreclosure or your financial situation has drastically changed, worry no more! Contact TJ Powers Realty today and get the best real estate agent on the beaches of Hermosa, Manhattan, and Redondo, California. We are always ready to help you sell a home.