Need to short sell your home?
Not sure what a short sale is? A short sale is when the amount of the outstanding loans is greater than the amount for which the home could sell. This can be attributed to many factors, but commonly is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to prevent 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. A good real estate professional, like Charles Burt Homefolks, will be able to give you a realistic idea of what your house will likely sell for based on a market analysis. Be cautious of 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 Carthage, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Charles Burt Homefolks today
Next, be sure to figure in your closing costs. My experience means I know to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, get in touch with your lender and make them aware of the situation. They may even have a specific team that oversees short sales. Ask about their particular procedures. Some lenders will be more inclined to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to give approval for the final sale.