Are you ready to short sell your home?
Not sure what a short sale is? A short sale happens when you owe more than what the house will possibly sell for . Short sales are typically caused by home values in an area rapidly deflating.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the remainder of the loan.
What steps do I take in a short sale?
First, get an idea of the true market value of your property. If your 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 an accurate idea of what your home could sell for.
When it's time to sell your house, Excel Funding Real Estate Services, Inc. will help. Take advantage of my experience and knowledge of the local real estate market in Rancho Palos Verdes to sell your home quickly.
Contact us today.
Next, calculate your closing costs. My experience means I know to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, contact your lender and tell them of your situation. They may even have a particular team that manages short sales. Ask about their specific steps. Some lenders will be more willing to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to give approval for the final sale.