Need to short sell your home?
What is a short sale? A short sale is when the amount of the outstanding loans is greater than the value of the home. This situation is usually the result of prices in an area rapidly deflating.
Short sales may be a way for homeowners to preclude foreclosure and pay off their loan with the lender by settling.
How do I proceed with a short sale?
First, figure out the true market value of your house. If your finances are already pushed to the limit, paying a licensed appraiser may not be feasible. Therefore, a knowledgeable 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.
Should you have any questions pertaining to real estate or the process of going through a short sale in West Palm Beach, Florida just contact me
here or e-mail me
Next, be sure to figure in 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 calculate your final costs at closing.
Finally, contact your lender and tell them of your situation. They may even have a dedicated team that manages short sales. Ask about their particular process. Some lenders will be more inclined to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to approve the final sale.
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