Do you need to short sell your home?
Not sure what a short sale is? A short sale happens when you owe more than what the house will possibly sell for . This can be caused by many causes, but most commonly is a result of a rapidly declining real estate market.
Short sales can be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.
How do I proceed with a short sale?
First, find out the true market value of your home. Since paying for a licensed appraiser may not fit your already tight budget, an experienced local REALTOR® that knows the current conditions of the Cary real estate market is the best way to get a realistic opinion of what your home could sell for.
Cary homeowners who are upside down on their mortgage and need relief fast should turn to the expertise of RE/MAX Performance to guide them through the short sale process.
Contact me today for a free consultation.
Next, don't forget about your closing costs. My work in this area has taught me to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, call your lender and tell them of your situation. They may even have a specific department that handles short sales. Ask about their particular steps. 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 give consent for the final sale.