gone in the owners pocket as profit. Frankly, that commission was not necessarily money well spent, because hiring a real estate agent is not always the best and fastest way to sell a home when facing foreclosure. We’ll talk more about that as we move through this book.
THE BASIC HOME SALES PROCESS IN FORECLOSURE
We begin our look at selling your house for more with a practical examination of what the home-selling process is and how it works in distressed situations. To get the most money for your house, you’ll have to invest in touch-ups, improvements, staging, keeping the grass cut, keep it neat and clean at all times for inconvenient showings while dozens of strangers walk through your house and many other items. Sometimes there is not enough time for all this.
SETTING THE LISTING PRICE
Setting a listing price is a strategic exercise that aligns the seller’s goals to the selling approach. If the seller is in a situation such as an impending foreclosure, in which the house must be sold quickly, that calls for a price that will move the home quickly. However, it may forfeit selling for the most money. Where the house is an inherited property and not in the best of condition, but is in a great location, that takes another kind of pricing strategy, and might involve repairs and staging to get the best price. As you see, there are plenty of factors that go into setting a listing price. Therefore, it’s critical for home sellers to know the considerations that determine a home’s price. There is both an art and a science in setting a listing price. Setting the price at which to sell your home is not a formula, nor simply mathematical. There are many factors that go into the decision — for example, location (even location on the same street), condition, features,
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