Are you ready to short sell your home?
Not sure what a short sale is? A short sale occurs when the amount of the outstanding loans is greater than the value of the home. This may be attributed to many reasons, but most commonly 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 forgive the remainder of the loan.
What's involved in 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.
When it's time to sell your house, RE/MAX Performance is ready. Take advantage of my expertise and knowledge of the local real estate market in Cary to sell your home quickly.
Contact us today.
Next, be sure to figure in your closing costs. My experience means I know to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, get in touch with your lender and make them aware of the situation. They may even have a particular department that manages 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 the amount owed or make other arrangements. Your lender will have to give approval for the final sale.