Solving the Knoxville Foreclosure Crisis
One Homeowner at a Time

Rick Smenner

RE/MAX Preferred Properties
[email protected]

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Mistakes Sellers Make While Doing A Knoxville Short Sale

If You Are Waiting For Your Customers To Call You – You Are Too Late!When it comes to doing a Knoxville short sale, there are no guarantees. But for a Knoxville homeowner facing foreclosure, a Knoxville short sale can offer the best way out of a bad situation. In order to give yourself the best chance of completing a short sale, here are a few common mistakes that sellers make while doing a Knoxville short sale and how to avoid them. Short Sale Mistake #1: Waiting too long to start a short sale. How This Can Be Avoided: If you find yourself in a situation where foreclosure may be inevitable, it is important to explore you options to avoid foreclosure as soon as you can. Foreclosures happen in Tennessee very quickly, so it is important to start pursing a short sale before it is too late. While it is not impossible to delay or stop foreclosure with a short sale, there are no guarantee that it can always be stopped. Short Sale Mistake #2: Failing to hire an experienced Knoxville short sale agent. How This Can Be Avoided: A Knoxville short sale agent can really make or break how your short sale ends up. Not all real estate agents are familiar with the process, which is why it is so important to hire someone with a proven track record of getting Knoxville short sales approved. An experienced agent will be able to explain the process to you, set a realistic price for your home, and help get the sale approved with your lender. Short Sale Mistake #3: Being difficult about showing the home. How This Can Be Avoided: As a seller, it is important to be as flexible as you can about showings on your home. This can be hard for many sellers, since they are not necessarily wanting to sell their home. However, without any showings or being difficult about showings, you could seriously hurt your chances at completing a short sale on your Knoxville home. Short Sale Mistake #4: Failing to get your agent paperwork in a timely manner. How This Can Be Avoided: Sometimes it can seem like the paperwork is endless in a Knoxville short sale. Unfortunately, in many short sales, documentation can be can become quickly outdated and without complete file, many lenders will not even consider a short sale. Short Sale Mistake #5: Failing to make plans for after the short sale. How This Can Be Avoided: Once you receive approval on your Knoxville short sale, you generally have 30 days to close on your home. So, it is important to have a plan for where you will go after the sale is complete. In addition, it is important to work to payoff debt and put some money away in savings. Are you facing foreclosure on your Knoxville home? Do you want to hear your options to avoid foreclosure? If so, please do not hesitate to give my team a call at 865-696-9002 or send an email to [email protected]. We've helped countless Knoxville homeowners explore their options to avoid foreclosures and all of our services done at no cost to you.

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