Need to short sell your home?
What is a short sale? A short sale occurs when the value of a home is less than what is owned. This may be due to many reasons, but most often is a result of a rapidly declining housing market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can negotiate with the lender to write off the difference.
How do I proceed with a short sale?
First, figure out the true market value of your home. For those whose finances are already pushed to the limit, hiring a licensed appraiser may not be an option. Therefore, a qualified local real estate professional that knows the current conditions of the Cary real estate market is a smart way to get a reliable idea of what your home could sell for.
Cary homeowners who are upside down on their home loan and need results fast can rely on the expertise of RE/MAX Performance to guide them through the short sale process. Contact me today
for a free consultation.
Next, estimate your closing costs. My experience has taught me to consider fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs upon closing.
Finally, contact your lender and make them aware of your situation. They may even have a special team that handles short sales. Ask about their exact procedures. Some lenders will be more willing to work with you than others. They may be able to lessen how much you owe or make other arrangements. Your lender will have to give approval for the final sale.