Need to short sell your home?
Not sure what a short sale is? A short sale happens when the value of a home is less than what is owned. Short sales are typically caused by home values in a market rapidly declining.
For many homeowners, a short sale is an ideal way to avoid foreclosure or bankruptcy when they can negotiate with the lender to write off the difference.
How to do a short sale...
First, determine the true market value of your property. A good real estate professional, like Go! Real Estate, Inc., will be able to give you a reasonable idea of what your property will possibly sell for based on a market analysis. Beware of 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.
To get top dollar for your distressed real estate in Bronx, Contact Go! Real Estate, Inc. today
for a company with the experience and knowledge to get you to the closing table quickly.
Next, estimate your closing costs. My experience means I know to consider 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 the situation. They may even have a special team that handles 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 how much you owe or make other arrangements. Your lender will have to agree to the final sale.