Real Estate: 4 Tips about Buying, Selling from Expert Barbara Corcoran
Question: I’m getting divorced. How do I sell my home quickly in this real estate market?
A: The first thing you do is get rid of your stuff. Buyers can’t see past clutter. Then price it right. Take down your drapes, wash your windows, paint your walls a soft white, replace your lampshades and install high wattage. Make your house spotless! Open all your windows for a full eight hours, freshen up your bathroom with a new shower curtain, toilet seat and towels.
Q: Unfortunately, I have some credit problems from my divorce. Any tips you can give me about today’s lending environment when it comes to my buying a home?
A: Contact your creditors and work out a payment plan. They are often sympathetic to divorce situations and will more than likely work with you. Get all your agreements in writing. Lending institutions, due to the subprime incidents, are always happy to lend to people with good credit, so try to repair your credit problems as soon as possible.
Q: I am a real estate newbie. The last house I bought was with my ex who knew about that kind of stuff. Do you have a vocabulary primer for real estate buyer newbies?
A: Yes, these are the words to watch out for: cozy (too small), needs TLC (it’s a dump), must see inside (outside is ugly), unique (hard to sell), efficient kitchen (too small to fit two adults).
Q: My mom is buying a home after a recent divorce. What the single best piece of advice I can give her?
A: I’d tell your mother to take a breather and rent a small place for awhile. A divorce is a big thing to absorb and what she thinks she wants might be very different from a year from now.
About the author: Barbara Corcoran borrowed $1,000 from her boyfriend and quit her job as a waitress at 23 to start a real estate company in New York City. Over the next 25 years, she’d parlay that $1,000 loan into a five-billion-dollar real estate business. Barbara is the author of If you don’t have big breasts, put ribbons on your pigtails,” a national best-selling business book. In 2005 Barbara’s entrepreneurial spirit prompted her to start a new venture, the television production and business consulting company Barbara Corcoran Inc. She is a regular business contributor on CNBC & on NBC’s Today Show.
