Weichert, Realtors - Villar and Company is there for sellers needing to do a short sale Prairieville, Louisiana

Is it time to short sell your home?

What is a short sale? A short sale is when you owe more than what the house is worth . This could be due to many factors, but frequently is a result of a rapidly declining housing market.

For many homeowners, a short sale is an ideal way to avert foreclosure or bankruptcy when they can get the lender to write off the difference.

What's involved in a short sale?

First, get an idea of the true market value of your house. A qualified real estate professional, like Weichert, Realtors - Villar and Company, will be able to give you a reasonable idea of what your property would probably sell for based on a market analysis. Beware of websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.

Should you have concerns regarding real estate or what happens during a short sale in Prairieville, Louisiana you can contact me here or e-mail me.

Next, calculate your closing costs. My work in this area has taught me to consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.

Finally, get in touch with your lender and notify them of the situation. They may even have a dedicated team that oversees short sales. Ask about their exact process. Some lenders will be more willing to work with you than others. They may be able to lessen your loan principal or make other arrangements. Your lender will have to agree to the final sale.