Friday, August 12, 2011

Mortgagee Sales....they’ve started !

"Hands up who’s handling properties where the sales instructions are from the bank…", wow - 4 hands went up in just one of our office training sessions. I don’t recall having had that number in the whole of 2010… things sure have changed.

So what do you do if you’re under pressure to sell from a Bank or a Lender??

Step 1 : First of all, take action the minute you know you have a problem. At the first sign of mortgage stress, get on the front foot and start communicating with your lender. Most people we see in serious trouble are those who were in denial and then lost valuable time.

Step 2 : Source one of the many credible financial advisors around - or someone like MyBudget - to help you develop a strategy to deal with the issue.
If you act in time - the Banks will work with you. They are extremely helpful in most instances - as long as you keep them informed and you’re 100% honest with them - and you act early enough. Lenders also tend to be less nervous if they know you’re getting good advice.

Step 3 : If a sale is what you need - let us know. We’ll give you solid advice on how to sell quickly in this market - and importantly, how to get the most money possible for your particular property. We can also help with the communication to your lender - this may take the pressure off a little.
Keep in control of your sale, act early, get the best advice and you’ll save yourself some serious pain - not to mention dollars.

It certainly is tough for those who can’t afford their mortgage commitments, we get that. Don't feel embarrassed - no one can escape the market - we work with it every day and understand it.
Experience and specialised marketing does REALLY count at the moment.

Call me on 0418 824 188… and I’ve just started tweeting so I may be able to help there as well.....Anthony

Anthony Toop, Managing Director.
© Toop Real Estate Group

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