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Whatever you do, don’t get a foreclosure notice!

Selling real estate has two aspects, pricing and timing. If you need to sell quickly, you need to price you home very competatively. Unfortunately, far too many Boston sellers are ignoring this logic. I have seen far too many people wait until they receive a foreclosure notice before putting their home on the market or, if their home already is on the market, waiting to slash the price. This is too late people! Once a petition to foreclose has been filed, everyone with access to the internet knows about your dire financial straits. Foreclosure notices were once pretty much limited to local papers, but now every agent and buyer can find public records with the click of a mouse. Many buyers are not even willing to put an offer on this type of property and they decide simply to buy at a 40% or more discount from the bank. If you think you may be facing trouble paying mortgage payments in the next three months, put your home on the market at a competitive price as soon as possible.

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