Are you ready to short sell your home?
What is a short sale? A short sale happens when you owe more than what the house is worth . This may be caused by many causes, but most commonly is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to avoid foreclosure and get out from under their loan with the lender by settling.
How to do a short sale...
First, figure out the true market value of your house. Since hiring a licensed appraiser may not work with your already tight budget, an experienced local REALTOR® that knows the current conditions of the Landrum real estate market is a smart way to get an accurate idea of what your home could sell for.
When the time comes to sell your house, Mickey Hambright can help. Use my experience and knowledge of the local real estate market in Landrum to sell your home quickly. Contact us today
Next, find out your closing costs. My experience means I know to consider fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, get in touch with your lender and notify them of the situation. They may even have a particular team that oversees short sales. Ask about their particular steps. Some lenders will be more able 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 give consent for the final sale.