Do you need to short sell your home?
Don't know what a short sale is? A short sale occurs when you owe more than what the house is worth . Short sales are usually caused by home prices in a market rapidly declining.
Short sales may be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
How do I proceed with a short sale?
First, determine the true market value of your property. A qualified real estate professional, like Excel Funding Real Estate Services, Inc., will be able to give you a reasonable idea of what your house should probably sell for based on a market analysis. Be careful 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.
When you're ready to sell your home, Excel Funding Real Estate Services, Inc. will help. Use my expertise and knowledge of the local real estate market in Rancho Palos Verdes to sell your home quickly.
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Next, be sure to figure in your closing costs. My experience has taught me to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, contact your lender and notify them of the situation. They may even have a specific team that handles short sales. Ask about their particular process. Some lenders will be more able 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 give consent for the final sale.