Short Sale Buyers

The short sale process is rife with challenges, but no doubt the biggest hurdle is finding a short sale buyer. While short sales can be significantly cheaper than regular homes, not everyone is willing to take on the risk of buying a distressed property. For the seller, the trick is to invest in proper marketing and take steps to increase the home’s appraisal value. If you’re having trouble finding interested short sale buyers, read on for a few useful tips.

Hire a Realtor.

A real estate agent specializing in short sales can give your home the exposure it needs. Besides the MLS and newspaper listings, he or she can use the Internet, private networks, and word of mouth to get your home viewed by as many short sale buyers as possible. If necessary, they can even field calls and evaluate offers so you get only the best prospects.

Work on Your Appraisal.

Before putting your home on the market, you need a proper appraisal to be able to price it accordingly. The appraiser will look at factors such as square footage, location, features, and any improvements made on the home. If there’s any ongoing work, try to finish them before the appraisal. Keep all receipts pertaining to the property on hand, including taxes.

Explore Various Mediums.

Don’t limit yourself to the MLS, publications, and whatever your agent can do for you. If you have time, make brochures to give out, put up For Sale signs around the neighborhood, or take some nice pictures to post on the Internet. Every short sale buyer has his own resources, and your job is to put your property listing where they can see it.

Set Your Goals.

Before even looking at offers, make sure you know what your limits are. How much are you willing to take off the price for a short sale buyer? Which features are non-negotiable? Your agent can help you make these decisions. Set aside a good hour or two to plan out your short sale, so you know what you’re doing when you start meeting short sale buyers.