Do you need to short sell your home?
What is a short sale? A short sale happens when the value of a home is less than the amount of the outstanding loans. This may be caused by many factors, but frequently is a result of a rapidly declining real estate market.
Short sales can be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.
The process of a short sale...
First, determine the true market value of your house. If your finances are already stretched, paying a licensed appraiser may not be feasible. Therefore, a qualified local REALTOR® that knows the current conditions of the Taylorsville real estate market is the best way to get a reliable idea of what your home could sell for.
To get top dollar for your distressed real estate in Taylorsville, it takes the level of know-how and experience we posses to get to the closing table quickly.
Contact Bret Mundy Real Estate LLC today.
Next, calculate your closing costs. My work in this area has taught me to take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, get in touch with your lender and let them know of the situation. They may even have a specific team that oversees short sales. Ask about their particular 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 agree to the final sale.