Need to short sell your home?
Don't know what a short sale is? A short sale occurs when the amount of the outstanding loans is greater than the amount for which the home could sell. This can be attributed to many causes, but most often is a result of a rapidly declining housing market.
Short sales may be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
What steps do I take in a short sale?
First, find out the true market value of your house. Since hiring a licensed appraiser may not work with your already tight budget, an experienced local REALTOR® that knows the current conditions of the Carthage real estate market is the best way to get an accurate opinion of your home's worth.
When it's time to sell your property, Charles Burt Homefolks can help. Use my experience and knowledge of the local real estate market in Carthage to sell your home quickly. Contact us today
Next, be sure to figure in 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 the closing table.
Finally, call your lender and let them know of the situation. They may even have a special team that manages short sales. Ask about their exact procedures. Some lenders will be more able 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 consent for the final sale.