Do you need to short sell your home?
Not sure what a short sale is? A short sale occurs when you owe more than what the house is worth . This can be due to many causes, but most often is a result of a rapidly declining real estate market.
Short sales can be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.
What's involved in a short sale?
First, assess the true market value of your house. Since hiring a licensed appraiser may not fit your already tight budget, a knowledgeable local REALTOR® that knows the current conditions of the Prairieville real estate market is a sound way to get a realistic opinion of your home's value.
Prairieville homeowners who are upside down on their mortgage and need results fast can rely on the expertise of Weichert, Realtors - Villar and Company to guide them through the short sale process. Contact me today
for a free consultation.
Next, calculate your closing costs. My work in this area means I know to consider fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, contact your lender and make them aware of your situation. They may even have a specific department that handles short sales. Ask about their particular steps. Some lenders will be more able to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to give consent for the final sale.