Need to short sell your home?
What is a short sale? A short sale is when the value of a home is less than what is owned. This situation is often the result of home prices in a market rapidly declining.
Short sales may be a way for homeowners to avoid foreclosure and get out from under their loan with the lender by settling.
What's involved in a short sale?
First, determine the true market value of your home. Since hiring a licensed appraiser may not fit your already tight budget, a knowledgeable local REALTOR® that knows the current conditions of the Pleasant Garden real estate market is the best way to get an accurate opinion 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 answer questions you have about real estate short sales.
Next, find out your closing costs. My experience has taught me to account for fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, contact your lender and let them know of the situation. They may even have a particular team 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 give consent for the final sale.