Ready to short sell your home?
What is a short sale? A short sale occurs when the amount of the outstanding loans is greater than the value of the home. This could be due to many causes, but most commonly is a result of a rapidly declining housing market.
Short sales may be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
The process of a short sale...
First, find out the true market value of your property. For those whose finances are already strained, paying a licensed appraiser may not be an option. Therefore, an experienced local REALTOR® that knows the current conditions of the Rancho Palos Verdes real estate market is a smart 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 answer questions you have regarding real estate short sales.
Next, determine your closing costs. My work in this area means I know to take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, call your lender and make them aware of the situation. They may even have a special team that handles short sales. Ask about their specific procedures. Some lenders will be more inclined 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.