Time to short sell your home?
Not sure what a short sale is? A short sale occurs when you owe more than what the house will possibly fetch in the open market . This could be attributed to many factors, but most often is a result of a rapidly declining housing market.
Short sales can be a way for homeowners to prevent foreclosure and get out from under their loan with the lender by settling.
How do I proceed with a short sale?
First, get an idea of the true market value of your property. For those whose finances are already pushed to the limit, paying a licensed appraiser may not be an option. Therefore, a knowledgeable local REALTOR® that knows the current conditions of the Carthage real estate market is a sound way to get a realistic opinion of your home's worth.
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, determine your closing costs. My work in this area means I know to take into account 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 tell them of the situation. They may even have a special team that deals with short sales. Ask about their specific procedures. Some lenders will be more willing to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to give approval for the final sale.