Common Mistakes to Avoid in Short Sales

Short sales are one of the most preferred and popular methods for settling debts among house owners. For those homeowners who cannot afford to keep up with the regular mortgage payments, short sale is great relief. In past few years, most of my sales have come from short sales which have become a prominent trend among troubled house owners. But as an experienced Temecula short sales agent, I would like to inform you that short sale is rather a complicated process. There are potential risks of backfire and it may even lead to foreclosure proceedings of your home. In this post, I am going to explain some of the most common mistakes that people do in short sales and how to avoid them.

Inappropriate Price: For successful short sales, it is important that the house is priced just right. The price should be attractive to the buyer, buyer’s lender, short sale bank and even to the seller. It may be difficult to price right quote for all of these entities but as Temecula short sales expert, all of my listings have received multiple offers with successful closing.

Ineffective Marketing Strategy: Marketing is one of the most important aspects of the process and it is not enough to simply quote a price and wait for potential buyers. Your short sales listing should be marketed among a wide pool of buyers. Some of the best methods that used by Temecula short sales agents over the years include website promotion, email marketing and direct networking with potential buyers.

Poor Condition of Property: Your home should be ready for sale and should exhibit brilliant condition of the property. I have noticed some of the most common mistakes made by home owner are to leave the bed unmade, sink full of dishes, scattered toys and similar mess. Some buyers even consider sellers as irresponsible and there are chances that the seller may even trash the house upon vacating.

Lack of Photographs in Listing: Another common mistake is to list your house without any photographs. Actually missing photographs send a wrong message to the buyer that the sellers do not really care and there could be come issues with the property. Moreover, all the major websites will rank listings with proper photographs higher among all the properties.

I have been working as an expert Temecula short sales agent for many years and it is quite common to find sellers with insufficient documentation. It is important that you should maintain proper documents and submit them in timely manner otherwise it may take extra time in getting approved from bank. These are some of the most common mistakes that people make and it is advised to get in touch with an experienced Temecula short sales expert to avoid these common mistakes.