Are you ready 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. This can be due to many causes, but most often is a result of a rapidly declining real estate market.
Short sales could be a way for homeowners to avoid foreclosure and get out from under their loan with the lender by settling.
What steps do I take in a short sale?
First, determine the true market value of your home. A qualified real estate professional, like Charles Burt Homefolks, will be able to give you a realistic idea of what your property will probably sell for based on a market analysis. Be careful 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, Contact Charles Burt Homefolks today
for a company with the experience and knowledge to get you to the closing table quickly.
Next, calculate 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, contact your lender and make them aware of the situation. They may even have a particular team that deals with short sales. Ask about their exact procedures. Some lenders will be more able to work with you than others. They may be able to decrease the amount owed or make other arrangements. Your lender will have to give approval for the final sale.