Need to short sell your home?
Don't know what a short sale is? A short sale is when the amount of the outstanding loans is greater than the value of the home. Short sales are often caused by values in a market rapidly declining.
Short sales may be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.
What's involved in a short sale?
First, assess the true market value of your house. Since hiring a licensed appraiser may not work with your already tight budget, a knowledgeable local REALTOR® that knows the current conditions of the Flowery Branch real estate market is a smart way to get a reliable idea of your home's worth.
When you're ready to get started, contact me
through my site or e-mail me
. I'm glad to address any questions you have regarding real estate short sales.
Next, find out your closing costs. My work in this area means I know to take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, get in touch with your lender and notify them of the situation. They may even have a special team that manages short sales. Ask about their exact procedures. Some lenders will be more willing to work with you than others. They may be able to decrease how much you owe or make other arrangements. Your lender will have to give approval for the final sale.