Need to short sell your home?
Don't know what a short sale is? A short sale is when you owe more than what the house is worth . Short sales are usually caused by home prices in an area rapidly declining.
Short sales may be a way for homeowners to preclude foreclosure and pay off their loan with the lender by settling.
How to do a short sale...
First, get an idea of the true market value of your home. An experienced real estate professional, like Go! Real Estate, Inc., 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 house'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, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Go! Real Estate, Inc. today
Next, don't forget about your closing costs. My work in this area means I know to consider fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at the closing table.
Finally, contact your lender and notify them of your situation. They may even have a special department that oversees short sales. Ask about their exact steps. Some lenders will be more able to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to give consent for the final sale.