5 Effective Short Sale Tactics

It is a fact there are plenty of homeowners with underwater mortgages who are trying their best to stop foreclosure with a Florida short sale. Their decision to go with a short sale is actually a smart one since the benefits outweigh the disadvantages.

Since one of the key components of a short sale involves finding a buyer, you should expect tough competition. The only way to attract buyer interest is by using effective tactics such as:

1. Staging your home – Many distressed homeowners fail to see the importance of making their homes presentable, thinking their unfortunate situation will excuse them from not making any effort. You have to put yourself in the buyer’s shoes and look at your home through their eyes. Remove clutter, paint the walls, trim the hedges, fix windows and doors, update your kitchen and if you can, strip the wallpaper. You will be surprised at how much more attractive your home will look by doing these things and you need not even spend much.

2. Being available at all times – Among the things buyers hate the most is difficulties reaching the seller. You should be available to answer questions and accommodate drop-ins. Of course, setting up an open house will make you better prepared but you can never tell when a buyer will suddenly appear and make an offer you cannot resist.

3. Being open to negotiations – You have to remember it is a buyer’s market, meaning buyers have the upper hand. You should always have wiggle room when deciding on a list price, for example. This is also applicable to the other sales details. Do not be too quick to say no especially if what the buyer is asking sounds reasonable.

4. Doing research – Potential buyers are more likely to make an offer if you know what you are talking about. Do not leave everything to your Realtor since there would be instances when the buyer would direct the question to you. Know as much as you can about your home, your community and even the current market conditions. This will surely impress the buyer and help him make an informed decision.

5. Work with Everyone – Although you might think your Florida short sale Realtor is the only one on your side, you should still make an effort to be accommodating to every person involved in the process including the lender, appraisers, lawyers, inspectors, etc.