Mercury (Hobart) - Property - - Front Page - Andrew Win­ter is the host ofSelling Hous­esAus­tralia.

THEREyou are, a happy lit­tle property owner, mind­ing yourown­busi­ness. Your thoughts are that maybe, in the not too dis­tant fu­ture, you will sell up and take the next step up the property lad­der. You hope that lit­tle de­posit you paid upon pur­chase has grown into a nice chunk of eq­uity, which will help you on your merry way up the next rung.

But with­out warn­ing, your eyes meet those of a col­league across a crowded of­fice. You share an af­ter-work drink with­out your part­ners. Or your pre­vi­ously lov­ing part­ner de­cides the plumber, whowas called in to up­grade the bath­room, is in fact an up­grade on you!

Al­ter­na­tively, those eyes across the of­fice are those of your boss­whois con­tem­plat­ing your fu­ture with the com­pany. Even more trau­matic of course is an un­ex­pected ill­ness, or other cir­cum­stances that sud­denly and un­ex­pect­edly mean your dream of the trade-up is dashed.

Nowall you long to be able to do is clear your debts, pay off the mort­gage and all those late pay­ments and get to the near­est rental!

In­my­ex­pe­ri­ence there is a seem­ingly never-end­ing list of cir­cum­stances as to whysome people need to sell not when the mar­ket is right, but now, ASAP, or even yes­ter­day.

These sales there­fore are categorised as a dis­tressed sale. This is a very ac­cu­rate ti­tle as it re­flects the fact that there is a lot of dis­tress for the ven­dors. If you, or a friend or fam­ily mem­ber, are ever in this re­ally dif­fi­cult and stress­ful pe­riod of life, here are a few sug­ges­tions to try to help:

a dis­tressed sale is a tar­get for the bar­gain hunter, not the overly gen­er­ous house hunter. Only when a sale is need­ed­now­can us­ing the term be con­sid­ered a good way to at­tract buy­ers, but do not ex­pect to at­tract top dol­lar.

to take the anger out of the sit­u­a­tion. This is eas­ier said than done, es­pe­cially in mat­ri­mo­nial dis­putes, feud­ing fam­i­lies or even lenders that you maynot think are be­ing very help­ful. But take a step back and try to look at the sit­u­a­tion from the other party’s point of view.

can be tempt­ing to lose in­ter­est in the home, main­te­nance, tidi­ness, and even con­tent tends to dis­ap­pear at these times. Dis­tressed sale homes fre­quently look unloved, but this is counter-pro­duc­tive. It will not only slow the sale process but can have a mas­sive im­pact on your sale price. Most of these sit­u­a­tions are dif­fi­cult to due to money, so ab­so­lutely ev­ery dol­lar counts, but you can keep the lawn­mowedand the house clean.

is an ex-part­ner, the bank, fam­ily or just dire fi­nan­cial straits, there is usu­ally an­other party driv­ing the need for the sale. At this time you would prob­a­bly rather pull out all yourown toe­nails while on a camp­ing hol­i­day with your for­mer in-laws in a three-man tent than talk to the other side about the best way for­ward. But you must try to work to­gether to main­tain and present the home well and en­cour­age pos­i­tive mar­ket­ing. The mu­tual goal of a sale at a good price is worth bit­ing your tongue for.

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