Do you need to short sell your home?
Don't know what a short sale is? A short sale occurs when the amount of the outstanding loans is greater than the amount for which the home could sell. Short sales are often the result of prices in an area rapidly deflating.
For many homeowners, a short sale is an ideal way to avoid foreclosure or bankruptcy when they can negotiate with the lender to write off the difference.
The process of a short sale...
First, figure out the true market value of your house. If your finances are already strained, engaging a licensed appraiser may not be feasible. Therefore, a qualified local REALTOR® that knows the current conditions of the Denton real estate market is the best way to get an accurate estimate of your home's value.
Should you have any concerns pertaining to real estate or what happens during a short sale in Denton, Texas simply contact me
here or e-mail me
Next, don't forget about your closing costs. My work in this area means I know to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, call your lender and tell them of your situation. They may even have a special department that manages short sales. Ask about their particular 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 approve the final sale.