4 steps to get your short sale home ready for market! - Reid Real Estate Group
August 29, 2018

4 steps to get your short sale home ready for market!

A short sale is the process by which a home is sold for less than is owed on the mortgage to the property.  The seller receives no proceeds and the lender agrees to take loss on the mortgage. Preparing a short sale home to go on market requires a different approach as a traditional for-profit sale.

Making costly improvements to a short sale home is not recommended as it will deplete seller funds and time, and provides no financial benefit to the seller. Usually sellers are better off holding on to any available funds for relocation costs, or in the instance a lender requires a contribution. Short sales are also generally time sensitive, so getting started quickly versus spending a lot of time on improvements is usually the best bet.

However, you still need a buyer for the home to sell, and it is always worthwhile to put in a little time and effort to get the home to show as well as possible to attract a buyer quickly!

4 STEPS TO GET YOUR SHORT SALE HOME READY MARKET:

  • Declutter. Decide what items you can live without for the next several months and pack them away. You’re moving anyway! Consider it a head start.
  • Remove all personal photos and memorabilia from your home. You don’t want buyers to focus on your life. You want them to see the space and imagine their own lives there. Don’t give them any distractions.
  • Clean the home thoroughly.  Organize, vacuum, mop, dust, scrub the kitchen and bathrooms and eliminate odors. CLEAN HOMES SELL!
  • Clean up the yard. Remove junk, and shovel snow, rake leaves or cut the grass as needed. Pulling up to the house forms their first impression. Make it count!

Pricing and showing right is always the key to a quick home sale, including a short sale! Reid Real Estate Group specializes in Connecticut short sales and has been the state’s leading short sale team since 2010!

Last Updated on August 29, 2018 by Minna Reid

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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