September 9, 2017

Want to get through your Greater New Haven area short sale as quickly and painlessly as possible? Follow these 5 tips for success:

Get the home in show shape. While it may not make financial sense to make any major improvements, a short sale is no time to slack off on keeping the house in show shape. While the home may be sold as-is, you still want to appeal to the broadest buyer base possible. A house that shows well sells quickly!

Get the right agent. A short sale is a complicated transaction and one that few agents are truly familiar with. Do your diligence and find a specialist for the best odds of success.

Have all your documents ready and keep them updated. The most common delays in short sales are caused by outdated and incomplete seller documentation. Short sales require lots of paperwork. Your short sale agent will let you know upfront what you will need to gather. Waste no time in gathering your documents and keeping them updated.

Be prepared to move in a hurry. While there is some uncertainty while waiting for your short sale approval, once the approval letter arrives – it will expire in just 30 to 45 days. Make sure you have considered your new living situation in advance so that you will be able to move quickly once the time comes.

Price to sell. An experienced short sale professional will have a proven pricing strategy – follow their guidance.  This is no time to price over market value. Price with the market and take aggressive reductions every few weeks. A good pricing strategy will ensure you go under contract quickly!

Last Updated on September 19, 2017 by Minna Reid

About the author 

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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