Should You Stage Your Home for a Short Sale?

Should You Stage Your Home for a Short Sale?

You may have heard of people staging homes and feel staging is only for large home sales. You can stage any home, especially short sales in NYC. Your job as a homeowner is to help potential buyers envision themselves living in your home. You don’t need to hire an interior decorator to stage your short sale in NYC. Here are 6 tips on how to do it yourself.

Clear Away Clutter
First, clear away any clutter and personal items. Remove family photos, storage boxes, toys, and any other out of place items. Your potential buyers should be able to see their stuff in those spots.

Get Rid of Some Furniture
Clear out some furniture. Each room should have an open feel. A living room is inviting enough with a couch, loveseat, coffee table, and one end table. Place a vase in the corner and a bowl of fresh fruit on the table.

Reorganize Your Furniture
Make a room feel more open by reorganizing your furniture. Keep the furniture off the walls. If you have a beautiful bay window, reface your couch so you can look out into the yard. If its winter, center your furniture to face the fireplace, so families can vision themselves cozy by the fire.

Touch Up the Paint
If your walls could use a fresh coat of paint, do so with a nice neutral color. You can also add contrast by painting one wall a vibrant color.

Deodorize Your Home
When potential buyers come into your home, it should be clean and smell fresh. Make sure there is no dust on the ceiling fans. Buyers are sure to notice that and think what a pain it will be to clean it. Bake cookies or boil cinnamon sticks or lemon peels on the stove a few moments before a showing.

Transform Rooms
Transform bedrooms used as storage rooms so it’s considered a usable living space. If you don’t have bedroom furniture, turn it into a sitting room or study. Add a desk, bookshelf, and comfortable chair. Add a nice area rug to set the stage.

The General Price of Brooklyn Foreclosures

The General Price of Brooklyn Foreclosures

So, you’ve spotted a few foreclosed homes, and it’s down to a few options. As they all have passed your inspection of not needing much work, you decide that the price will be the final determining factor. Some of the foreclosures in NYC and foreclosures in Brooklyn as well, may have been spotted extremely inexpensive or below market rate.

This is when the homeowner and the potential investor need to help each other. Even if many homes sold as short sales in Brooklyn are outside of your price range, it is wise to check the landscape constantly. Here are two key determining factors if the price of a foreclosure home is great or not.

1. Are there any hidden debts? A foreclosure in Brooklyn does not happen overnight. The seller may be in this situation because of a job loss or illness. That means other debts besides their mortgage could exist that are tied to the house. A foreclosure agent can do the legwork to determine if there is any public debt such as real estate taxes or maintenance liens against the property.

2. Are you paying more than the property is worth? The neighborhood, other homes for sale in the area, and potential business developments all determine the value of the property. The bank, however, wants to get the amount of the mortgage owed. The homeowner could have multiple mortgages on the property, which are worth well over what the home is worth. Ensure you are paying under the value of the home.

Remember, the seller is not setting the price – the bank is. For normal home sale, you could develop a personal relationship with the seller, ensuring them you are the best buyer for the home. You will keep the home in excellent condition. However, a foreclosure agent in Brooklyn or NYC will be better equipped to handle the negotiations with the seller’s bank.

Structural Issues in a NYC Foreclosure

Structural Issues in a NYC Foreclosure

When it comes to purchasing a foreclosed property, there are significant positives and possible major negatives. Foreclosures in NYC can come at a great deal, often much better than non-foreclosure prices on the market [Read more...]