home selling tips: Confused about Short Sales? - 02/23/11 09:55 PM
Even though the housing market is flooded with short sales - they're about 20% of the Tallahassee inventory - I continue to bump into people who don't understand the meaning of a short sale.
A short sale is one that doesn't generate enough money to completely pay off the mortgage(s) and liens against the property and is therefore "short" of the amount needed to clear the seller's debts. Because there can be a considerable amount of money still owed to one or more lenders after the sale, the lender(s) may ask the seller to sign a promissory note to pay the … (3 comments)
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home selling tips: Don’t give up if the bank rejects your short sale offer - 12/18/08 08:54 PM
If you think the offer that was submitted is a good one and likely to be the best one the bank will receive, it's your job to convince the bank to accept it.
Most banks will order an appraisal and use that as the basis for their decision. Unfortunately, with the slowdown in sales, some of the comps used in the appraisal may be 9-12 months old and not representative of the current market since they don't typically use active comps.
Provide the bank with an analysis of your local market along with specific information on your short sale's neighborhood. Include … (13 comments)
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home selling tips: Help Buyers See the Benefits of Your Home - 12/12/08 07:42 AM
Figure out the best features of your home and find a way to emphasize them:
Design a flyer with pictures & stories about special features or experiences you've had in your home. This can evoke emotions that make a house more valuable to a buyer. For example, having your morning coffee with your spouse in the living room and watching the deer from the picture window is a scenario that will appeal to many people and isn't obvious. Have Tent cards with messages pointing out upgrades or special features strategically placed in each room Hire a professional stager for a one-hour … (1 comments)
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