Time to short sell your home?
Don't know what a short sale is? A short sale is when you owe more than what the house is worth . Short sales are often caused by home values in a market rapidly declining.
Short sales may be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
What steps do I take 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, an experienced local real estate agent that knows the current conditions of the Bucklin real estate market is a smart way to get an accurate idea of what your home could sell for.
When you're ready to get started, contact me
through my site or e-mail me
. I'm happy to address questions you have regarding real estate short sales.
Next, calculate your closing costs. My experience has taught me to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, call your lender and make them aware of your situation. They may even have a particular team that handles short sales. Ask about their exact procedures. Some lenders will be more inclined to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to approve the final sale.