Need to short sell your home?
What is a short sale? A short sale is when you owe more than what the house is worth . This situation is usually the result of values in an area rapidly declining.
For many homeowners, a short sale is an ideal way to preclude foreclosure or bankruptcy when they can negotiate with the lender to write off the difference.
What steps do I take in a short sale?
First, assess the true market value of your home. Since paying for a licensed appraiser may not work with your already tight budget, a qualified local real estate professional that knows the current conditions of the Jacksonville real estate market is a sound way to get a reliable idea of your home's worth.
When you're ready to get started, contact me
through my site or e-mail me
. I'm glad to address any questions you have about real estate short sales.
Next, be sure to figure in your closing costs. My work in this area means I know to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at the closing table.
Finally, contact your lender and tell them of your situation. They may even have a specific team that oversees short sales. Ask about their exact procedures. Some lenders will be more able to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to give approval for the final sale.