Ready to short sell your home?
Don't know what a short sale is? A short sale happens when you owe more than what the house is worth . This may be attributed to many reasons, but often is a result of a rapidly declining real estate market.
For many homeowners, a short sale is an ideal way to avert foreclosure or bankruptcy when they can get the lender to forgive the remainder of the loan.
How do I proceed with a short sale?
First, determine the true market value of your home. Since paying for a licensed appraiser may not work with your already tight budget, a knowledgeable local real estate professional that knows the current conditions of the Carthage real estate market is the best way to get a reliable idea of what your home could sell for.
Should you have concerns about real estate or what happens during a short sale in Carthage, Missouri simply contact me
here or e-mail me
Next, find out your closing costs. My experience has taught me to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, call your lender and let them know of the situation. They may even have a specific team that deals with short sales. Ask about their specific process. Some lenders will be more willing to work with you than others. They may be able to lessen your loan principal or make other arrangements. Your lender will have to agree to the final sale.