Need to short sell your home?
What is a short sale? A short sale occurs when you owe more than what the house will possibly fetch in the open market . This situation is usually the result of home values in a market rapidly declining.
Short sales can be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
What's involved in a short sale?
First, determine the true market value of your property. If your finances are already stretched, hiring a licensed appraiser may not be feasible. Therefore, a knowledgeable local real estate professional that knows the current conditions of the Prairieville real estate market is the best way to get an accurate estimate of what your home could sell for.
If you have any concerns pertaining to real estate or what happens during a short sale in Prairieville, Louisiana simply
contact me here or
e-mail me.
Next, determine your closing costs. My work in this area means I know to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, call your lender and let them know of your situation. They may even have a dedicated team that handles short sales. Ask about their specific steps. Some lenders will be more able to work with you than others. They may be able to decrease how much you owe or make other arrangements. Your lender will have to agree to the final sale.