Foreclosure. The word even sounds daunting.
So many people around the country are facing the possibility of foreclosure. If you're in this category, my advice to you is be proactive.
Contact your mortgage lender immediately and politely and clearly explain your situation. You may be able to negotiate a modified mortgage payment plan. I know people in Florida who didn't contact their mortgage company in time to save their home. Sadly, their story did not have a happy ending, so call your lender as soon as possible -- and don't wait for them to call you back. Remember the old cliche -- the squeeky wheel gets the grease!
If you've decided that you need to sell your home to avoid foreclosure, please, please hire the best real estate agent in your area. Ask your friends for referrals or call the Real Estate Association in your state for the best reference! A real estate agent needs to have knowledge of your area, be able to provide you with comparable home sales and make this information available to you.
If you want to sell your home quickly and for the most money possible in this very competitive real estate market, you'll need to prepare your home for showings. To show your home in the best possible light, you may want to consider hiring a home stager in your area.
According to internationally recognized home staging expert Debra Gould, The Staging Diva, "Hiring a professional home stager is the single best way to outshine your competition. It might seem counterintuitive to hire a professional stager when you've tightened your budget and are facing the sale of your home to avoid foreclosure; however, it has been proven time and time again that staged homes sell faster and for a higher price than homes that are sold "as is."
"Hiring the right real estate stager can mean an extra $10,000 to $70,000 in the selling price of your home," states Gould.
Real estate agents can give you good advice about selling your home. However, they probably don't have the training, creativity or skills to transform your home to make it appealing to prospective buyers. Leave that up to the home stager. Depending upon your needs and budget, they can just give you advice or actually do the home make-over for you.
Selling your home can be one of the most stressful things you can do -- especially if you're faced with foreclosure. Let the experts help you through this difficult time.