Are you ready to short sell your home?
What is a short sale? A short sale happens when the value of a home is less than what is owned. This could be due to many causes, but often is a result of a rapidly declining real estate market.
Short sales could be a way for homeowners to prevent foreclosure and get out from under their loan with the lender by settling.
How do I proceed with a short sale?
First, determine the true market value of your property. A knowledgeable REALTOR®, like Southdale Properties, Inc., will be able to give you a reasonable idea of what your house should possibly sell for based on a market analysis. Beware of websites where a computer estimates your house's market value since they may not have complete information or know important things like neighborhood trends and current listings.
When it's time to sell your house, Southdale Properties, Inc. can help. Use my experience and knowledge of the local real estate market in Lake Worth to sell your home quickly. Contact us today
Next, don't forget about your closing costs. My experience means I know to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at the closing table.
Finally, contact your lender and tell them of your situation. They may even have a specific department that deals with short sales. Ask about their exact 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 approve the final sale.