How to prevent foreclosure - Sell property yourself (FSBO)

It's tempting to try to save money by avoiding realtor fees, but this may be a false benefit and may even prevent you from avoiding foreclosure.

Homeowners facing foreclosure should be cautious before because they probably lack the knowledge and skills of a professional realtor.

It is recommended that the property be listed in the Multiple Listing Service (MLS).  One way to do that is to use a flat fee listing agent.  They can be found on the internet or by contacting us.  The savings achieved by using a flat fee agent will allow the you to pay a higher than normal commission to the agent that finds a buyer, thus encouraging real estate agents to work harder to help you avoid foreclosure.

How to prevent foreclosure - presentation is everything

The house be thoroughly cleaned (excess clutter removed) and repaired so that it is in sellable condition.  Landscaping should be watered and trimmed.  In my experience, most people want a house that is in move-in condition with new floors and everything in top operating condition.  If your house does not have this “curb appeal”, then the potential buyer is likely to drive on by. Especially in today's market.

How to prevent foreclosure - price to sell

The listing price should be low enough to sell the property quickly.  If not, you may not attract a buyer fast enough to avoid foreclosure.

It is apparent that, when selling their property FSBO, homeowners are facing a significant risk that they will not sell their property and close escrow before the auction date, even with significant price discounts. This is a huge risk if you want to avoid the consequences of foreclosure.

How to prevent foreclosure - why FSBO is a mistake with short sales

If you owe more than the property is worth and need a short sale, I would not recommend the FSBO approach.  One important reason is that the lender will gladly pay the real estate commission because they want to be sure that the property is marketed properly and is sold for a fair price.  The best approach is to work with a foreclosure avoidance team who will help you identify the right real estate agent for your needs, and who can help ensure you successfully address other related needs, such as:

• Income tax avoidance. 
• Deficiency debt avoidance.
• Credit card debt resolution.
• Credit repair.