Are you ready to short sell your home?
Don't know what a short sale is? A short sale is when you owe more than what the house is worth . This situation is usually caused by home values in an area rapidly deflating.
For many homeowners, a short sale is an ideal way to avert foreclosure or bankruptcy when they can negotiate with the lender to forgive the remainder of the loan.
How do I proceed with a short sale?
First, find out the true market value of your home. Since hiring a licensed appraiser may not work with your already tight budget, a qualified local real estate professional that knows the current conditions of the Lake Worth real estate market is a smart way to get a reliable estimate of what your home could sell for.
Need an honest idea of what your home is worth in today's market? Contact me today
to find out how Southdale Properties, Inc. can help.
Next, find out your closing costs. My experience means I know to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, contact your lender and let them know of your situation. They may even have a particular team that oversees short sales. Ask about their specific steps. Some lenders will be more inclined to work with you than others. They may be able to decrease the amount owed or make other arrangements. Your lender will have to give consent for the final sale.