As Tampa Bay Short Sale Specialists and CDPE's assisting people to avoid foreclosure via a short sale, we often hear "I don't care about the condition of my house because I'm losing it anyway". This is a huge mistake! In order to reduce the amount of any possible deficiency judgement from your lender, and more importantly, to increase the liklihood that your short sale will be approved, it's very important to have the home present itself in the best light possible.
Want to know how to get more money for your distressed property? Make a good impression! There is a laundry list of items that might devalue it. Many Tampa Bay Area house-hunters are already stretching their budgets to buy, are scared about the econmic news and are very concerned about 'getting a good deal'. Becuase of this, making the house as move-in ready and attractive as possible is a MUST. This is especially true if your home is in an area with many short sales and foreclosures.
Understandably, you probably don't have the funds to repair any major items, though a little elbow grease and even a few dollars can go a long way towards ensuring a successful short sale with little or no deficiency.
Some are things you can fix and some you cannot.
What you can fix-- and should:
- Clutter and overly personal décor. Your 100-strong Hummel collection means something to you but will turn off most buyers. So will lime green wall paint.
- Small broken items. Who wants to cook in a kitchen where one of the cabinet hinges is broken or an electrical outlet doesn't work? If you don't know how to repair these items yourself, ask friends and family for help. Your short sale agent should be able to refer you to an affordable handyman or contractor, if needed.
- Dirty or peeling paint. If the paint is peeling or the walls are scuffed up, potential buyers will wonder what other problems the house has. A little touch up paint goes a long way.
- Mold and Mildew. Besides being a danger to human health, even the smallest amounts of mold can kill a home sale. Yes, even a bit of mold in a shower will deter buyers or make them run for the hills after an inspection. A bottle of Clorox does wonders!! (Obviously serious mold issues require remediation by an expert - your short sale Realtor should help you determine this if you're unsure).
- Strong odors such as smoke or pet urine. There are products designed to eliminate smells and stains from floors and walls. If new flooring isn't in the budget, it's actually better to remove urine soaked carpet and have no carpet at all.
- A small garage. No, you cannot make it bigger, but if you can make it look as clean and spare as possible – if people can envision a car inside of it – do it!
Here is what you cannot fix -- and what you can do to offset it:
- No garage, unless you are living in a condo. If you have a carport, make sure it is sturdy, well-kept and nicely landscaped.
- A strange floor plan, such as having to walk through a bedroom or bathroom to get to another well-used room. Get decorating advice on how to make the oddball room appear more multipurpose (for example, make a bedroom that adjoins another one look like it could also be a study by adding a desk and a futon).
- An odd-numbered house. An even-numbered house will sell for about 10 percent more. It is psychology! Make the exterior extra attractive to offset.
Getting the most for Tampa Bay Short Sale is the name of the game, and it can be done with just a bit of work and little to no financial investment. For professional advice on selling your Tampa Bay short sale for top dollar, contact us today.
Julia and Matt Fishel, CDPE, CIAS
Suncoast Partners at RE/MAX ELITE Realty
(727)366-0324 Julia
(727)366-0325 Matt
Your Tampa Bay Short Sale Realtors, Saving the World One Homeowner at a Time!