Need 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 will possibly sell for . This can be attributed to many causes, but most commonly is a result of a rapidly declining housing market.
Short sales may be a way for homeowners to avoid foreclosure and get out from under their loan with the lender by settling.
How do I proceed with a short sale?
First, find out the true market value of your house. For those whose finances are already strained, hiring a licensed appraiser may not be feasible. Therefore, a knowledgeable local real estate professional that knows the current conditions of the Waterville real estate market is a sound way to get a realistic opinion of your home's worth.
When you're ready to get started, contact me
through my site or e-mail me
. I'm happy to address questions you have about real estate short sales.
Next, don't forget about your closing costs. My experience has taught me to consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, call your lender and tell them of the situation. They may even have a particular department that handles short sales. Ask about their specific procedures. Some lenders will be more willing to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to agree to the final sale.