Is it time to short sell your home?
What is a short sale? A short sale occurs when you owe more than what the house will possibly sell for . This can be attributed to many causes, but most often 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.
The process of a short sale...
First, assess the true market value of your home. Since paying for a licensed appraiser may not fit your already tight budget, an experienced local real estate professional that knows the current conditions of the Bucklin real estate market is a sound way to get a realistic opinion of your home's value.
When you're ready to get started, contact me
through my site or e-mail me
. I'm glad to answer questions you have about real estate short sales.
Next, don't forget about your closing costs. My work in this area has taught me to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, get in touch with your lender and let them know of the situation. They may even have a particular department that deals with short sales. Ask about their particular steps. Some lenders will be more able to work with you than others. They may be able to decrease how much you owe or make other arrangements. Your lender will have to approve the final sale.