Short Sale Seller

Is it time to short sell your home?

help_02Not sure what a short sale is? A short sale is when you owe more than what the house will possibly sell for. This may be due to many causes, but frequently is a result of a rapidly declining real estate market.

Short sales may be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.

What’s involved in a short sale?

First, determine the true market value of your house. A knowledgeable REALTOR®, like those at Coldwell Banker Platinum Properties, will be able to give you a realistic idea of what your home should probably sell for based on prior sales of similar houses in the neighborhood. Be cautious of websites where a computer estimates your home’s market value since they may not have complete information or know important things like neighborhood trends and current listings.

Next, don’t forget about your closing costs. My experience has taught me to take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at the closing table.

Finally, contact your lender and tell them of your situation. They may even have a special department that manages short sales. Ask about their particular steps. Some lenders will be more willing to work with you than others. They may be able to reduce the amount owed or make other arrangements. Your lender will have to agree to the final sale.

As your Buyer's Agent, I can help you find the perfect house for you, and as your Listing Agent, I'll get top dollar for your property. Call me, Irvine's real estate expert, at (714) 856-7003. I can help you make the decision that gets the outcome you want.

Email Me: Homes@SylviaJonathan.com
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