Time to short sell your home?
Don't know what a short sale is? A short sale occurs when the value of a home is less than what is owned. Short sales are typically caused by home values in an area rapidly declining.
Short sales can be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
What steps do I take in a short sale?
First, find out the true market value of your property. An experienced real estate professional, like Exit Realty of Lakeland, will be able to give you a reasonable idea of what your property should probably sell for based on prior sales of similar houses in the area. 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.
To get top dollar for your distressed real estate in Lakeland, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Exit Realty of Lakeland today
Next, don't forget about your closing costs. My experience means I know to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, call your lender and let them know of your situation. They may even have a particular team that handles short sales. Ask about their exact steps. Some lenders will be more willing to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to give consent for the final sale.
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