Need to short sell your home?
What is a short sale? A short sale occurs when you owe more than what the house will possibly sell for . Short sales are usually caused by home values in a market rapidly deflating.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to write off the remainder of the loan.
What's involved in a short sale?
First, determine the true market value of your home. A good REALTOR®, like Jack Gaughen Network Services Hower & Associates, will be able to give you a reasonable idea of what your property should possibly sell for based on prior sales of similar houses in the area. Beware of websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.
Mifflintown homeowners who are upside down on their home loan and need relief fast should turn to the expertise of Jack Gaughen Network Services Hower & Associates to guide them through the short sale process. Contact me today
for a free consultation.
Next, estimate your closing costs. My experience means I know to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, get in touch with your lender and make them aware of your situation. They may even have a special team that oversees short sales. Ask about their exact steps. Some lenders will be more able to work with you than others. They may be able to lessen how much you owe or make other arrangements. Your lender will have to give consent for the final sale.