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Is it time 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 can be due to many reasons, but most often is a result of a rapidly declining real estate market.
For many homeowners, a short sale is an ideal way to avoid foreclosure or bankruptcy when they can negotiate with the lender to write off the remainder of the loan.
What steps do I take in a short sale?
First, determine the true market value of your property.
If your finances are already pushed to the limit, paying a licensed appraiser may not be an option. Therefore, an experienced local REALTOR® that knows the current conditions of the the South Bay real estate market is the best way to get an accurate estimate of what your home could sell for.
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To get top dollar for your distressed real estate in the South Bay, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact RE/MAX PV Realty today.
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Next, estimate your closing costs. The knowledgeable real estate agents at RE/MAX PV Realty will consider fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, contact your lender and make them aware of your situation. They may even have a particular team that handles short sales. Ask about their specific process. Some lenders will be more inclined to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to give approval for the final sale.
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Let me help you buy, sell or rent in the South Bay!
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