Ready to short sell your home?
What is a short sale? A short sale is when the value of a home is less than what is owned. This can be due to many causes, but most often is a result of a rapidly declining housing 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, get an idea of the true market value of your house. If your finances are already strained, paying a licensed appraiser may not be an option. Therefore, a qualified local real estate professional that knows the current conditions of the Mineral Wells real estate market is a sound way to get an accurate opinion of your home's worth.
To get top dollar for your distressed real estate in Mineral Wells, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Ender & Associates Realty today
Next, don't forget about your closing costs. My work in this area has taught me to take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, get in touch with your lender and let them know of your situation. They may even have a special team that manages short sales. Ask about their specific process. Some lenders will be more able to work with you than others. They may be able to lessen your loan principal or make other arrangements. Your lender will have to give consent for the final sale.