Time to short sell your home?
What is a short sale? A short sale happens when the amount of the outstanding loans is greater than the value of the home. Short sales are usually caused by home prices in a market rapidly deflating.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can negotiate with the lender to forgive the difference.
How do I proceed with a short sale?
First, find out the true market value of your house. A qualified real estate professional, like Cossell Enterprises, Inc, will be able to give you a reasonable idea of what your property will possibly sell for based on prior sales of similar houses in the area. Watch out for websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.
To get top dollar for your distressed real estate in Bucklin, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Cossell Enterprises, Inc today
Next, be sure to figure in your closing costs. My work in this area means I know to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs upon closing.
Finally, get in touch with your lender and let them know of your situation. They may even have a specific team that deals with short sales. Ask about their specific process. Some lenders will be more able to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to give approval for the final sale.