Are you ready 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. This can be caused by many causes, but frequently is a result of a rapidly declining real estate market.
Short sales may be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
What's involved in a short sale?First, determine the true market value of your home. Since paying for a licensed appraiser may not fit your already tight budget, an experienced local real estate agent that knows the current conditions of the Rolling Hills Estates real estate market is the best way to get a realistic estimate of your home's value.
|Should you have concerns regarding real estate or what happens during a short sale in Rolling Hills Estates, California you can contact me here or e-mail me.|
Next, be sure to figure in 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, get in touch with your lender and notify them of the situation. They may even have a special department 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 lessen how much you owe or make other arrangements. Your lender will have to agree to the final sale.