Time to short sell your home?
What is a short sale? A short sale occurs when the amount of the outstanding loans is greater than the value of the home. Short sales are usually the result of prices in a market rapidly declining.
Short sales could be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.
What steps do I take in a short sale?
First, assess the true market value of your property. Since paying for a licensed appraiser may not fit your already tight budget, a qualified local real estate agent that knows the current conditions of the Prairieville real estate market is a smart way to get a reliable idea of what your home could sell for.
When you're ready to sell your home, Weichert, Realtors - Villar and Company will help. Take advantage of my experience and knowledge of the local real estate market in Prairieville to sell your home quickly.
Contact us today.
Next, be sure to figure in your closing costs. My experience means I know to consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, get in touch with your lender and let them know of the situation. They may even have a specific team that deals with short sales. Ask about their exact process. 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.