Ready to short sell your home?
What is a short sale? A short sale occurs when you owe more than what the house will possibly sell for . This situation is often the result of home values in a market rapidly declining.
Short sales could be a way for homeowners to prevent foreclosure and get out from under their loan with the lender by settling.
What steps do I take in a short sale?
First, get an idea of the true market value of your home. If your finances are already pushed to the limit, hiring a licensed appraiser may not be an option. Therefore, a knowledgeable local real estate professional that knows the current conditions of the Prairieville real estate market is a smart way to get an accurate estimate of your home's worth.
When you're ready to get started, contact me
through my site or e-mail me
. I'm glad to address any questions you have about real estate short sales.
Next, don't forget about your closing costs. My experience has taught me to consider fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, get in touch with your lender and let them know of your situation. They may even have a special department that deals with short sales. Ask about their exact procedures. Some lenders will be more inclined to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to give consent for the final sale.