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How to Sell Your Foreclosure Home

If you haven’t heard yet, selling your Malaysian house can actually save you from foreclosure. This action, often called ‘short selling’ in the Malaysia real estate industry is the act of selling the house – on an urgent basis of course – so the house becomes someone else’s property right before it is taken back by the lender, the selling price pays off the lender, and you, the homeowner, avoids that big, bad foreclosure mark in your credit history that will look bad for the next seven years or so.

The thing about foreclosure is that it should be fast. Timing, pricing – they are fully irrelevant as far as foreclosing a Malaysian house is concerned. You are working against time – that is, the amount of time you have left before the lender throws you out of your house. Because you don’t have the luxury of time to  prepare your home for the big market, you also don’t get to re-price your house to your ideal digits.

Also read Most Common Mistakes in Selling Foreclosure Homes for more details.

Remember: you should sell your house and fast!

So, how do you achieve that? How do you short sell your house to avoid foreclosure? Here are some tips:

You may never get to earn back the price you bought the house for but remember, this is a much better alternative than getting the house foreclosed and not getting a mortgage loan for at least the next seven years!

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