Need to short sell your home?
Not sure what a short sale is? A short sale is when the value of a home is less than what is owned. Short sales are often the result of values in an area rapidly declining.
Short sales could 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, find out the true market value of your home. A good real estate professional, like Gold Star Realty, will be able to give you a good idea of what your house would probably sell for based on a market analysis. Be careful of 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 you're ready to get started, contact us
through our site or e-mail me
. We're happy to answer questions you have about real estate short sales.
Next, calculate your closing costs. Our experience has taught us to consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, get in touch with your lender and make them aware of your situation. They may even have a special department that manages short sales. Ask about their particular procedures. Some lenders will be more inclined to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to agree to the final sale.
Looking to Sell?
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