Need to short sell your home?
Not sure what a short sale is? A short sale happens when you owe more than what the house is worth . Short sales are often caused by home prices in an area rapidly declining.
For many homeowners, a short sale is an ideal way to prevent foreclosure or bankruptcy when they can get the lender to write off the remainder of the loan.
The process of a short sale...
First, figure out the true market value of your house. If your finances are already stretched, hiring a licensed appraiser may not be feasible. Therefore, a knowledgeable local REALTOR® that knows the current conditions of the Winter Park real estate market is a smart way to get a realistic idea of what your home could sell for.
When the time comes to sell your property, Ferrell Realty, Inc. can help. Use my experience and knowledge of the local real estate market in Winter Park to sell your home quickly. Contact us today
Next, don't forget about your closing costs. My experience has taught me to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, call your lender and notify them of your situation. They may even have a particular team that handles short sales. Ask about their particular steps. Some lenders will be more inclined to work with you than others. They may be able to decrease the amount owed or make other arrangements. Your lender will have to approve the final sale.