Do you need to short sell your home?
Not sure what a short sale is? A short sale is when the amount of the outstanding loans is greater than the value of the home. This situation is usually caused by home values in an area rapidly deflating.
Short sales could be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
What's involved in a short sale?
First, find out the true market value of your property. Since hiring a licensed appraiser may not work with your already tight budget, a knowledgeable local real estate professional that knows the current conditions of the Mineral Wells real estate market is a smart way to get a realistic idea of what your home could sell for.
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, estimate your closing costs. My experience has taught me to consider 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 notify them of the situation. They may even have a specific department that manages short sales. Ask about their particular process. 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 approve the final sale.