Need to short sell your home?
Don't know what a short sale is? A short sale occurs when you owe more than what the house will possibly sell for . This can be due to many reasons, but often is a result of a rapidly declining real estate market.
Short sales may be a way for homeowners to avoid foreclosure and pay off their loan with the lender by settling.
The process of a short sale...
First, get an idea of the true market value of your house. For those whose finances are already stretched, hiring a licensed appraiser may not be an option. Therefore, an experienced local real estate professional that knows the current conditions of the Denton real estate market is the best way to get an accurate idea of what your home could sell for.
When you're ready to get started, contact me
through my site or e-mail me
. I'm glad to answer any questions you have about real estate short sales.
Next, be sure to figure in your closing costs. My experience means I know to take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, get in touch with your lender and tell them of the situation. They may even have a particular department that manages short sales. Ask about their specific steps. Some lenders will be more inclined to work with you than others. They may be able to lessen your loan principal or make other arrangements. Your lender will have to approve the final sale.