Are you ready to short sell your home?
Don't know what a short sale is? A short sale is when you owe more than what the house will possibly fetch in the open market . This can be due to many factors, but commonly is a result of a rapidly declining real estate market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to write off the remainder of the loan.
What's involved in a short sale?
First, get an idea of the true market value of your house. A good real estate professional, like JG Atlanta Properties, LLC., will be able to give you a reasonable idea of what your home should possibly sell for based on prior sales of similar houses in the area. Watch out for 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 you're ready to sell your house, JG Atlanta Properties, LLC. is ready. Use my experience and knowledge of the local real estate market in Flowery Branch to sell your home quickly. Contact us today
Next, be sure to figure in your closing costs. My experience has taught me to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, get in touch with your lender and tell them of the situation. They may even have a dedicated department 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 reduce your loan principal or make other arrangements. Your lender will have to give consent for the final sale.