Time to short sell your home?Don't know what a short sale is? A short sale occurs when you owe more than what the house is worth. This may be attributed to many causes, but most commonly is a result of a rapidly declining housing market.
Short sales can be a way for homeowners to avert foreclosure and pay off their loan with the lender by settling.
What's involved in a short sale?First, determine the true market value of your property. For those whose finances are already strained, hiring a licensed appraiser may not be feasible. Therefore, a qualified local real estate agent that knows the current conditions of the Flagler Beach, Palm Coast, Beachside real estate market is a sound way to get a reliable estimate of what your home could sell for.
|Flagler Beach, Palm Coast, Beachside homeowners who are upside down on their home loan and need results fast should turn to the expertise of Ben & Marie Lane, Two Lanes Real Estate to guide them through the short sale process. Contact us today for a free consultation.|
Next, determine your closing costs. The experienced REALTORS® at Ben & Marie Lane, Two Lanes Real Estate will take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, call your lender and let them know of the situation. They may even have a dedicated team that handles short sales. Ask about their specific procedures. Some lenders will be more able 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 agree to the final sale.