Ready to short sell your home?
Don't know what a short sale is? A short sale happens when you owe more than what the house is worth . This can be due to many reasons, but frequently is a result of a rapidly declining real estate market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the remainder of the loan.
What steps do I take in a short sale?
First, figure out the true market value of your property. A good REALTOR®, like Southern Homes of the Carolinas, will be able to give you a realistic idea of what your property should likely sell for based on prior sales of similar houses in the area. Beware of websites where a computer estimates your property's market value since they may not have complete information or know important things like neighborhood trends and current listings.
Cornelius homeowners who are upside down on their mortgage and need results fast should turn to the expertise of Southern Homes of the Carolinas to guide them through the short sale process. Contact me today
for a free consultation.
Next, determine your closing costs. My experience means I know to take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, call your lender and tell them of your situation. They may even have a particular team that deals with short sales. Ask about their specific steps. Some lenders will be more able to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to agree to the final sale.
Looking to Sell?
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