Time to short sell your home?
Not sure what a short sale is? A short sale occurs when you owe more than what the house will possibly fetch in the open market . This could be caused by many factors, but most commonly is a result of a rapidly declining housing market.
Short sales may be a way for homeowners to avoid foreclosure and get out from under their loan with the lender by settling.
The process of a short sale...
First, find out the true market value of your house. Since paying for a licensed appraiser may not fit your already tight budget, an experienced local REALTOR® that knows the current conditions of the Brandon real estate market is a smart way to get a realistic estimate 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 address questions you have regarding real estate short sales.
Next, be sure to figure in your closing costs. My experience has taught me to consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, contact your lender and let them know of the situation. They may even have a dedicated department that deals with short sales. Ask about their particular process. Some lenders will be more willing 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 approval for the final sale.