Are you ready to short sell your home?
Don't know what a short sale is? A short sale happens when the value of a home is less than the amount of the outstanding loans. This could be caused by many causes, 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 negotiate with the lender to write off the remainder of the loan.
What's involved in a short sale?
First, assess the true market value of your property. Since paying for a licensed appraiser may not work with your already tight budget, an experienced local REALTOR® that knows the current conditions of the Sunset Beach real estate market is the best way to get a reliable idea of what your home could sell for.
When you're ready to sell your property, Fred Thorne Realty LLC will help. Take advantage of my expertise and knowledge of the local real estate market in Sunset Beach to sell your home quickly. Contact us today
Next, estimate your closing costs. My experience means I know to consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, get in touch with your lender and make them aware of your situation. They may even have a specific department that oversees short sales. Ask about their particular procedures. Some lenders will be more able to work with you than others. They may be able to reduce the amount owed or make other arrangements. Your lender will have to give consent for the final sale.