If you are facing a foreclosure date in 2 weeks and you have exhausted all your options to prevent foreclosure, you last resort might be a quick Short Sale to postpone this foreclosure! However, if the bank has already postponed your foreclosure date several times, this might be harder than you think since the odds of bank granting a postponement request decreases with every extension request.
Howeve, since you need to sell your San Jose home fast, the strategy has to take cash buyers into consideration and meet their expectations. Cash buyers can typically close escrow within 10-14 days. Here are some recommendation that should help you achieve your goal of quick sale without leaving money on the table:
1) Order Inspections: Since your need to sell your San Jose home fast, you should consider ordering a Home Inspection which in most markets is a $350 investment. This will make your home much more marketable and will alleviate the anxiety some buyers might have about purchasing your San Jose home without an inspection. In California buyers are advised to order their own inspections, but that is an option. In this case, if your inspection report is comprehensive, the buyer might opt to write a an offer with no-inspection contingencies which should save 10 days.
2) No Contingencies: Your agent should market the property to buyers who would be willing to write an AS-IS purchase offer given the fact that you will be providing them with an inspection report.
3) Pricing: Most critical is the pricing of your home. Majority of State are experiencing rising home prices, but if you over-price your home, you have just killed any chance of a quick close. In fact, we would advise pricing your home a bit under the local market average to generate more interest.
4) Get Proof of Funds: Ask for liquid proof of funds which could be in the form of recent bank statements or stock trading account where the money can be available in 3-5 days. Also make certain the funds are in the name of the buyer and not anyone else.
5) Choose the Right Real Estate Team: Make sure your agent has assembled a professional team including Title and Escrow officer who can indeed process your transaction quickly and close it on time per your request. Your agent has their favorite Title and Escrow company he/she has been using and they should be able to give you good indications about the earliest date when an escrow can close.
6) Staging Helps: It’s a known fact that majority if buyer have a difficult time visualizing how they would furnish and decorate a home. Therefore Staging a Home prior to sell help significantly. We even staged a Bank Owned Home (REO) which sold for $1.2M after it was staged. The cost is about $800-$1,000 per month depending on the size of your San Jose home which for a quick sale is well worth the investment.
Feel Free to Contact Us if you have any more questions.