If your financial hardship has left you in a position whereby you are not able to pay your mortgage payment, whatever the reason may be, then you cannot afford to live in your home. Foreclosures are growing dilemma for many homeowners in the country today; foreclosures are at an all time high.

Some lenders out there have not been playing fair, and some even to the point of unethical practices. These unethical practices are a primary reason that foreclosures are at an all time high and not expected to slow down, from what most experts have said.

On the bright side of things, you may have an option that may allow you to keep your home, even if the foreclosure process is already under way. Something that has been around for many years, and you may possibly utilize to save your home and equity. You may need to wait a year or two in order to cash out the equity on the property, but it is better then the alternative.

This option is referred to as a Lease Purchase Agreement, find a tenant to lease your home from you, with an option to purchase the home at the end to the agreed period or time; usually 12 to 24 months. You set a price for them to buy the house when the agreement is signed; this will allow you to set the price so you can save the equity and by some time to recover. With a tenant that has the option to buy your home you may be able to:

1) First and foremost is the avoidance of a foreclosure

2) Since renters are paying less today due to the high foreclosure rates, this may be a way to increase the monthly rent, due in light of the purchase agreement

3) A one-time payment, up-front as a non-refundable deposit, this is usually 2 months and 1 month advance. The best part of this is that even if they decide not to buy your home, you still keep the money

4) Quickly locate a buyer for your property, most times faster then trying to sell you home in the traditional manner

5) Someone else will be paying the mortgage payment, and potentially a few thousand pesos a month more

Lease Purchase Agreements usually work well in any real estate market; these agreements referred to as a “lease option” as well. This is a very valuable strategy to keep in mind, especially during market that in a distress.

While there may be many other reasons to take advantage of a lease option, they are defiantly an excellent way to avoid foreclosure, and salvage your home from the bank. In a foreclosure, your credit will be destroyed for years to come, and the additional financial repercussions can take a tool on your personal life.

There are just of the few tips that might help you sell your house fast and to the best buyer possible:

Find a good attorney

Have every legal issues covered before you hand in your house to the next owner.  Inquire about property disclosures to potential buyers that your state law requires.  Find a good attorney to help you in this matter.

An attorney is also the best person to help you make the contract form for selling your house.  Local estate laws normally requires a contract that would protect you and the buyer.

To find your best possible buyer, pick out the best picture to put in your advertisements. Like humans, not all houses are “photogenic”, so find the best angle that still represents what your house has to offer.

Hire a reputable real estate agent

Something the real estate agents have while you don’t,  is experience, especially regarding home buyers. The large amount of potential buyers coming to your house should not convince you that everyone can finance for a house. If you’re selling a house on your own, more buyers will come to you  in the hope of a more flexible negotiation – check them all. Ask if they’re able to buy your house immediately, or if they do need to sell their own house first to finance their purchase.

Put up a good first impression

Cleaning and preparing your house meticulously for home showings is only a part of your effort. Some prospective home buyers love to do drive-bys, and rely on that first impression. Make sure your lawn and the front part of your house is well maintained to catch their attention. If your curb appeal is low, clients are reluctant to see what’s inside of your house.

These bits of wisdom came from the experience of people who managed to sell their home successfully to the best buyer. There are many factors to consider before you take every next step, so take your time. There’s one bit of useful advice:  it’s useless to do the selling on your own if the revenue taken from not hiring a real estate agent is spent heavily on fixing your own mistakes!

Do include these some reminders when planning selling your home. It is still the selling price which is the main consideration, the physical attributes of the house, the beauty, design, coziness, etc. Here are several useful tips to make it more attractive to prospective buyers:

Ask yourself  if you are the buyer of the house, what motivates you to buy the property? There are several  useful  tips in order to sell your home or property quickly and at the best price.

Sell your home quickly at the best price

1.  Make a survey of the market prices of the houses along you  locality and make a reasonable price range.

2.  The location of the house is the number one consideration. If it is located in the  middle or upper residential bracket this willdetermine an increase or decrease the market price.

3. You can advertise in the newspaper to widen the prospective buyers or find websites on the internet
selling real estate properties.

5. You can put at the entrance of your front yard a sign board written “Home for Sale by owner”.

6. Show your home  directly to your prospective buyers or use convincing visual graphics.

7.  No home is perfect. You can disclose the positive and negative facts about the house. But your manner of presentation to a buyer can add value to your home selling.

8.  First impression is important.  Do add preparations on the interior and so with the exterior views on the house, and even on added furnitures and fixtures

9.  Qualify the prospective buyer to insure smooth sailing transaction.

10.  Check the real estate taxes involved and other taxes incurred before and after the consumation of sale. Consult with a house tax advisor. Learn about all legal documents required like contracts and others.

11.  Learn how to deal convincingly and do a good negotiation.

12.  Consult an expert on realty agency for marketing your house.
Learn whether to use an agent or a realtor and know the differences, like the commissions and other processes.

13.  Choose the best or at least a reputable realtor.

14.  Make the most of your realtor’s advice and be guided accordingly in order to receive the best results of your home selling efforts.