Are you ready to short sell your home?
What is a short sale? A short sale occurs when the amount of the outstanding loans is greater than the value of the home. Short sales are usually caused by prices in a market rapidly declining.
Short sales could be a way for homeowners to preclude foreclosure and pay off their loan with the lender by settling.
What steps do I take in a short sale?
First, get an idea of 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 house should possibly sell for based on prior sales of similar houses in the area. 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 the time comes to sell your home, Cossell Enterprises, Inc is ready. Use my expertise and knowledge of the local real estate market in Bucklin to sell your home quickly. Contact us today
Next, be sure to figure in 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, call your lender and let them know of the situation. They may even have a specific team that manages short sales. Ask about their exact steps. Some lenders will be more able 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 approve the final sale.