Time to short sell your home?
Don't know what a short sale is? A short sale happens when the amount of the outstanding loans is greater than the value of the home. This situation is often the result of prices in an area rapidly deflating.
Short sales can be a way for homeowners to avoid foreclosure and get out from under their loan with the lender by settling.
The process of a short sale...
First, find out the true market value of your home. For those whose finances are already strained, paying a licensed appraiser may not be an option. Therefore, an experienced local real estate professional that knows the current conditions of the Carthage real estate market is a sound way to get an accurate opinion of what your home could sell for.
When you're ready to get started, contact me
through my site or e-mail me
. I'm glad to answer questions you have about real estate short sales.
Next, find out your closing costs. My work in this area means I know to consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, get in touch with your lender and let them know of your situation. They may even have a particular department that manages short sales. Ask about their exact process. Some lenders will be more able to work with you than others. They may be able to lessen your loan principal or make other arrangements. Your lender will have to give consent for the final sale.