Do you need to short sell your home?
Don't know what a short sale is? A short sale happens when the amount of the outstanding loans is greater than the value of the home. This could be attributed to many factors, but commonly is a result of a rapidly declining real estate market.
Short sales can be a way for homeowners to avert foreclosure and pay off their loan with the lender by settling.
What's involved in a short sale?
First, find out the true market value of your property. Since hiring a licensed appraiser may not work with your already tight budget, a qualified 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 opinion of what your home could sell for.
When it's time to sell your property, J. Briann Realty Group, Inc. is ready. Take advantage of my experience and knowledge of the local real estate market in West Palm Beach to sell your home quickly. Contact us today
Next, calculate your closing costs. My experience means I know to consider fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at the closing table.
Finally, get in touch with your lender and tell them of the situation. They may even have a specific department that handles short sales. Ask about their specific procedures. 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 agree to the final sale.