Are you ready to short sell your home?
Not sure what a short sale is? A short sale occurs when you owe more than what the house will possibly sell for . This could be attributed to many reasons, but most commonly is a result of a rapidly declining housing market.
Short sales can be a way for homeowners to avoid foreclosure and pay off their loan with the lender by settling.
How to do a short sale...
First, get an idea of the true market value of your property. A qualified real estate professional, like J. Briann Realty Group, Inc., will be able to give you a realistic idea of what your house should probably sell for based on prior sales of similar houses in the neighborhood. Be cautious of websites where a computer estimates your house's market value since they may not have complete information or know important things like neighborhood trends and current listings.
West Palm Beach homeowners who are upside down on their mortgage and need results fast can rely on the expertise of J. Briann Realty Group, Inc. to guide them through the short sale process. Contact me today
for a free consultation.
Next, don't forget about your closing costs. My experience has taught me to account for fees including title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, contact your lender and let them know of your situation. They may even have a dedicated department that handles short sales. Ask about their particular procedures. Some lenders will be more willing to work with you than others. They may be able to lessen how much you owe or make other arrangements. Your lender will have to give approval for the final sale.