Are you ready to short sell your home?
What is a short sale? A short sale happens when you owe more than what the house is worth . This situation is often the result of values in an area rapidly declining.
Short sales can be a way for homeowners to avert foreclosure and pay off their loan with the lender by settling.
How to do a short sale...
First, assess the true market value of your house. A good REALTOR®, like RE/MAX One Hundred, will be able to give you a good idea of what your property should possibly sell for based on a market analysis. Be cautious of websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.
When you're ready to sell your property, RE/MAX One Hundred can help. Take advantage of my experience and knowledge of the local real estate market in Cary to sell your home quickly.
Contact us today.
Next, calculate your closing costs. My work in this area has taught me to take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, contact your lender and notify them of the situation. They may even have a specific department that handles short sales. Ask about their specific 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 consent for the final sale.