Selling tip " Show them so they will see it"

What do you do with a property that is seriously outdated in every regard, or in Realtor speak
"original". You've heard all the helpful selling ideas before like, bake a loaf of fresh bread, paint the front door, stage the property, de clutter and so on, good tips but none would help sell an outdated home.

No,  if you want to sell your "original" home you must help buyers see it as it could be and show them how little it would cost. This is important especially when you consider that most buyers and Realtors have no clue what it costs to remodel/update a home so they guess wrong and that normally doesn't bode well for the seller. If you want to sell your home quickly and for the highest possible price, take the guess work out of the equation.

All you have to do is go to your local Home Depot or Lowes and let them know you want to find out how much it will cost to remodel your home or kitchen or bath, whatever.  They will help you every step of the way and they will do it for free. When your finished you will have color renderings and prices which you can share with buyers to show them what can be done and for how much or little. This will be a tremendous help to potential buyers and beneficial to you, by your removing the guess work they can see your home as it could be and not as it is. In sales this is called " selling the sizzle not the steak" Its works, so be sure to try it, you have nothing to lose and everything to gain!

Take a look at this example

What Is

Completely redesigned kitchen, Corian counter tops, new high end Stainless appliance all for under $14,000

Short Sales in Palm Beach County not handled well

As a real estate professional I find it very upsetting to find distressed owners in desperate need of help, getting little if any from their real estate agent. It unfortunate that so many of these distress owners have little or no idea how to traverse the complicated maze one needs to when dealing with a Short Sale workout. What's even worse is that their real estate agent who they are depending on for this help and guidance in most cases will provide neither.

Distressed owners looking to do a Short Sale workout with their lender need more then just finding a buyer for their home. While this is an important piece of the Short Sale work out puzzle, believe it or not it isn't the most critical piece of the puzzle.  I say this because unless the owner and lender can work out all the many other important details of the Short Sale and do it in the shortest period of time either the buyer will get frustrated and cancel the contract or the owner will end up in foreclosure canceling out the Short Sale contract. This happens because the lender will pursue both (Short Sale and Foreclosure) simultaneously to insure either way they will get this matter resolved without concern for what best for the owner.  

OK then so what does a distressed owner need to do to dramatically increase their chances they will resolve their differences with their lender.

First they must acknowledge their in trouble and need help. Second they need to find a professional Realtor who has the knowledge as well as access to the resources needed for a successful and expeditious Short Sale workout.  Realtors need to do more then just list a Short Sale home for sale, though this is where most agents stop, leaving the owner to deal directly with their lender which often ends very badly for the owner.

A professional Realtor will take the time needed to properly evaluate and determine if the owner will meet the lenders heart ship requirements for short sale consideration. Once that is established the Realtor would then get its support team in place to help with processing the owners work out package as well as monitor and assist the owner through what is actually a seven stage process that can take up to four months to complete.

Sadly, the failure of many distress owners to secure a Short sale workout from their lender is evident in Palm Beach County as our foreclosures are up 20% year to date. Also Per Realty Trac as of the end of January this year there was approximately 30,000 foreclosures pending in Palm Beach County. While foreclosure is the last and worst option for both distressed owner and lender, it is much worse for the owner then the lender. 

So the take away is that distressed owners need to find a professional Realtor like myself who has both the knowledge and support team needed to insure that they secure a Short Sale workout with their lender and not end up in Foreclosure.  

Peter ReJune

Realtor Broker Associate

Keller Williams Palm Beach

561-793-2493