Are you ready to short sell your home?
Don't know what a short sale is? A short sale happens when the amount of the outstanding loans is greater than the value of the home. Short sales are often caused by prices in a market rapidly declining.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to write off the remainder of the loan.
How to do a short sale...
First, find out the true market value of your property. A qualified real estate professional, like Unicasa International USA Realty, will be able to give you a realistic idea of what your house should likely sell for based on prior sales of similar houses in the neighborhood. Watch out for websites where a computer estimates your property's market value since they may not have complete information or know important things like neighborhood trends and current listings.
Davie homeowners who are upside down on their mortgage and need relief fast should turn to the expertise of Unicasa International USA Realty to guide them through the short sale process.
Contact me today for a free consultation.
Next, calculate your closing costs. My work in this area has taught me to consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, call your lender and make them aware of the situation. They may even have a particular department that manages short sales. Ask about their exact process. Some lenders will be more willing to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to agree to the final sale.