Time to short sell your home?
Not sure 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 situation is typically caused by values in a market rapidly deflating.
For many homeowners, a short sale is an ideal way to preclude foreclosure or bankruptcy when they can negotiate with the lender to write off the remainder of the loan.
What's involved in a short sale?
First, find out the true market value of your home. A knowledgeable real estate professional, like Cossell Enterprises, Inc, will be able to give you a realistic idea of what your home would possibly sell for based on prior sales of similar houses in the neighborhood. Watch out for 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.
When you're ready to sell your home, Cossell Enterprises, Inc is ready. Take advantage of my expertise and knowledge of the local real estate market in Bucklin 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 including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, contact your lender and notify them of the situation. They may even have a particular department that handles short sales. Ask about their specific steps. Some lenders will be more able to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to give approval for the final sale.