Are you ready to short sell your home?
What is a short sale? A short sale occurs
when you owe more than what the house is worth.
This could be attributed to many reasons, but most often is a result of a rapidly declining housing market.
Short sales may 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, get an idea of the true market value of your house.
If your finances are already pushed to the limit, engaging a licensed appraiser may not be an option. Therefore, a knowledgeable local real estate agent that knows the current conditions of the Apex real estate market is a sound way to get an accurate opinion of what your home could sell for.
To get top dollar for your distressed real estate in Apex, Contact RE/MAX Performance today for a company with the experience and knowledge to get you to the closing table quickly.
Next, estimate your closing costs. My work in this area has taught me to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, get in touch with your lender and let them know of the situation. They may even have a specific department that oversees short sales. Ask about their specific procedures. Some lenders will be more inclined to work with you than others. They may be able to reduce the amount owed or make other arrangements. Your lender will have to give consent for the final sale.