Is it time to short sell your home?
What is a short sale? A short sale happens when you owe more than what the house will possibly sell for . This may be caused by many reasons, but most often is a result of a rapidly declining housing market.
Short sales may be a way for homeowners to avoid 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 paying for a licensed appraiser may not fit your already tight budget, an experienced local REALTOR® that knows the current conditions of the Taylorsville real estate market is a smart way to get a realistic idea of what your home could sell for.
Taylorsville homeowners who are upside down on their home loan and need relief fast can rely on the expertise of Bret Mundy Real Estate LLC to guide them through the short sale process.
Contact me today for a free consultation.
Next, find out your closing costs. My work in this area means I know to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, contact your lender and notify them of your situation. They may even have a special department that deals with short sales. Ask about their specific procedures. Some lenders will be more inclined to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to approve the final sale.