Should You List Your Pending Foreclosure Home Online

Should You List Your Pending Foreclosure Home Online
When facing foreclosure, you may be considering different ways to avoid action being taken against you. One way is to immediately list your home with a renowned realtor in the hopes that she will bring the right buyer for you. Failing that, you may consider listing your home yourself, especially if real estate fees would gobble up your profits. Should you list your home online? Or, is this a really bad idea that should be avoided at all costs? Read on and we’ll look at the plusses and minuses of listing your home for sale online.

Let’s face it: the internet is a great place to connect buyers and sellers. If you don’t list your home yourself online, chances are your realtor will do so herself. If she does, she’ll probably have it listed via a multiple listing service to maximize the number of people who will view your home.

On the other hand, if you use a realtor you could end up paying a bundle in realtor fees. With average commissions running at six percent, you will pay $12,000 in realtor fees to dispose the property. That could be money that you will need to get yourself back on your feet!

When listing your home online keep in mind the following things:

Not every for sale by owner site offers the exposure that you need. Do some research and find the site or sites that really get the most traffic! Get references too; you don’t want to waste your time with a poorly performing site.

Scammers frequent such sites. If someone gets even a whiff that you are a distressed homeowner, then you could find that the people who are interested in the home have none of your interests at heart. Some may try to outright cheat you!

Your home’s information should be thorough. Uploading the maximum number of photographs is essential as is giving as much detailed information as possible. As far as your personal financial struggles go, saying “looking for a quick sale” is a clear indication that you are a distressed homeowner.

Because time is of the essence, listing your home online may not be the gamble you are seeking to take. Sure, realtor fees can eat up profits, but even the realtor’s commission is negotiable. Try to whittle the realtor’s fee down in order to hold down your costs and to walk away from your home owing money to no one.

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