Ready to short sell your home?
Don't know what a short sale is? A short sale is when you owe more than what the house is worth . This may be caused by many causes, but frequently 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 steps do I take in a short sale?
First, determine the true market value of your house. Since paying for a licensed appraiser may not work with your already tight budget, a qualified local REALTOR® that knows the current conditions of the Mifflintown real estate market is a sound way to get a realistic estimate of your home's worth.
If you have concerns regarding real estate or what happens during a short sale in Mifflintown, Pennsylvania just contact me
here or e-mail me
Next, find out your closing costs. My experience means I know to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, contact your lender and notify them of the situation. They may even have a specific team that deals with short sales. Ask about their specific steps. Some lenders will be more able to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to approve the final sale.