Tips on Getting Your Underwater Home Sold

There’s no doubt about it, since the burst of the housing bubble homeowners looking to sell their properties have faced a constant struggle. With prices at an all-time low, it is estimated that nearly one out of five American homes is underwater. Here are some tips to get above water and quickly sell your home at the best possible price:

1. Appraise the home
The first thing you should do before putting your home on the market is to have its value determined by an appraiser. By having the home appraised, sellers can get a realistic idea of what price a bank would value the home at before entering into a sale, saving them both time and money.

2. Conserve utilities
Cutting back on utility usage while your house is on the market is an easy way to make the home more attractive to potential buyers. Many times buyers will ask to look at the home’s utility bills to determine if they can afford the “entire package,” and in this economy having lower bills can definitely tip a sale in your favor.

3. Conduct your own inspection
Many buyers will want to have the home inspected before settling on a sale. Having your own inspection done allows you to know what red-flags the buyer may use to negotiate the home’s price and also gives you a chance to get them fixed for a lower cost beforehand.

4. Rev up your curb appeal
The first thing a buyer sees when checking out a new house is the view from the street, so make sure to pay extra special attention to your home’s outer appearance. Take a walk around your block and see what other homes look like on the outside, then try to make yours stand out. Revving up your curb appeal can be as simple as cleaning out your gutters or edging your lawn, both which can be done for practically next to nothing.

Following these tips could be the difference between selling your home fast or watching it flounder. Keep in mind that today’s market is unpredictable and even the most attractive homes sit untouched. If you’ve exhausted all of your resources to sell your underwater home, it may be time to consider other options such as a short sale or a deed-in-lieu arrangement. In either case, always be sure to educate yourself first before making any major decisions as it will save you time and money in the long run.