Is it time to short sell your home?
Not sure what a short sale is? A short sale is when the value of a home is less than the amount of the outstanding loans. This could be attributed to many causes, but often is a result of a rapidly declining real estate market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the difference.
What's involved in a short sale?
First, find out the true market value of your property. If your finances are already stretched, engaging a licensed appraiser may not be an option. Therefore, an experienced local real estate agent that knows the current conditions of the West Palm Beach real estate market is the best way to get a realistic opinion of your home's worth.
When it's time to sell your property, J. Briann Realty Group, Inc. will help. Take advantage of my expertise and knowledge of the local real estate market in West Palm Beach to sell your home quickly. Contact us today
Next, don't forget about your closing costs. My experience means I know to take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, contact your lender and notify them of your situation. They may even have a particular team that handles short sales. Ask about their exact steps. Some lenders will be more willing to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to agree to the final sale.
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