Is it time to short sell your home?
What is a short sale? A short sale is when the value of a home is less than the amount of the outstanding loans. This situation is often caused by values in a market rapidly declining.
Short sales could be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.
How do I proceed with a short sale?
First, find out the true market value of your property. If your finances are already strained, hiring a licensed appraiser may not be an option. Therefore, an experienced local real estate professional that knows the current conditions of the Mineral Wells real estate market is the best way to get a reliable opinion of your home's value.
When the time comes to sell your house, Ender & Associates Realty is ready. Take advantage of my experience and knowledge of the local real estate market in Mineral Wells to sell your home quickly. Contact us today
Next, don't forget about your closing costs. My work in this area has taught me to consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, call your lender and notify them of your situation. They may even have a dedicated team that oversees 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 agree to the final sale.