Need to short sell your home?
Not sure what a short sale is? A short sale happens when the value of a home is less than what is owned. This may be caused by many reasons, but often is a result of a rapidly declining housing market.
Short sales can be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
How do I proceed with a short sale?
First, figure out the true market value of your home. For those whose finances are already pushed to the limit, paying a licensed appraiser may not be an option. Therefore, 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 estimate of your home's value.
When you're ready to get started, contact me
through my site or e-mail me
. I'm happy to answer any questions you have about real estate short sales.
Next, determine your closing costs. My work in this area has taught me to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, get in touch with your lender and make them aware of the situation. They may even have a specific department that oversees short sales. Ask about their exact process. Some lenders will be more inclined 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 agree to the final sale.