Ready to short sell your home?
Not sure what a short sale is? A short sale happens when you owe more than what the house is worth . Short sales are usually caused by home prices in an area rapidly deflating.
Short sales can be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
The process of a short sale...
First, get an idea of the true market value of your home. Since paying for a licensed appraiser may not fit your already tight budget, an experienced local real estate professional that knows the current conditions of the West Palm Beach real estate market is the best way to get a realistic idea of your home's value.
Next, find out your closing costs. My work in this area has taught me to consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, get in touch with your lender and make them aware of the situation. They may even have a particular team that manages short sales. Ask about their particular steps. Some lenders will be more able 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 approval for the final sale.
Looking to Sell?
Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.