Step 1.  Have to sell your home?

Sometimes you don't have to sell and sometimes you have absolutely no choice. Many of us tend to think that it's always greener on the other side of the hill. Sometimes it actually is, and sometimes you would have been better off staying where you were. 

While you might consider the above scene a little extreme, it has happened. To be honest, it's just an excuse for me to put a Ballard-related cartoon on my website. The above drawing is based on a photo taken of Edith Macefield's home. Edith spent the last few years of her life in her little Ballard home, engulfed by construction. Edith was determined not to move, despite all the developer's coercions. She passed away in 2008 before the construction was completed.


Stay and upgrade options
If you love your neighborhood and neighbors, consider the options that are available to you before packing your suitcases. If you are selling because you want to upgrade to a bigger home, consider upgrading your existing home first.  For example, you could potentially.....
• add another bedroom or bathroom
• convert the basement or attic or both.
• add a mother-in-law by converting the garage.
• add an extension to your home (assuming you have the space to build).
• bulldoze the whole thing and start from scratch!

If you have to leave town for another job but are not sure it will work out, you could rent the place out. If you subsequently change your mind, you will have a place to come back to. However, if you are determined to have a view of the Puget Sound while having your morning coffee and toast and you live in Redmond, then you're going to have to move.


Determined to sell or have no choice
Most people will decide to sell rather than stay put. The average American will sell their first home within 5 years and will probably buy and sell others during their lifetime. America is a very mobile society and moving a thousand miles away for a new job is common.

Examples of why you might have to sell include:
• The kids have all grown up, left the nest and your home is now way too big for just the two of you
• You just can't take another eight months of rain and low cloud cover and are moving to New Mexico
• Upgrade from a condo to a house
• Getting too old for that big stairs and garden and want to downsize to a condo
• Just can't take another eight months of sunshine in New Mexico and moving to Seattle (that'll be a first!)

Whatever your situation, try to give yourself as much time as possible to get your home ready for market. Trying to arrange the sale of your still furnished home after moving out of state can be a stressful process. 

Foreclosures and Short Sales
In many of the situations listed above, the sellers had the option of either selling the property or not. However, when it comes to foreclosures your options are limited.

If you are unfortunate enough to be slipping into foreclosure, there are a number of non-profit organizations, approved by Washington state that you can contact. They will provide you with independent advice on your remaining options.

Contact the Washing State Homeownership Information Hotline at 1-877-894-HOME (1-877-894-4663) or visit www.homeownership.wa.gov for a list of counselors in your area.

Beware of scam artists looking to steal any equity that you may have left in the home. The Distressed Home Owners law was passed in 2008, the main purpose of which is to protect homeowners who are in financial difficulties from being preyed upon.

Lenders highly recommend that if you are starting to fall behind in your mortgage, or believe that you will do so in the near future, that you should contact them as soon as possible. Banks do not want to end up holding the property. The earlier you talk with your lender the better your chances of saving your home by working out an alternative agreement with them.