Ready to short sell your home?
What is a short sale? A short sale occurs when you owe more than what the house is worth . This could be due to many factors, but often is a result of a rapidly declining real estate market.
Short sales may be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
How do I proceed with a short sale?
First, figure out the true market value of your house. For those whose finances are already strained, hiring a licensed appraiser may not be an option. Therefore, an experienced local REALTOR® that knows the current conditions of the Landrum real estate market is the best way to get an accurate idea of your home's value.
Landrum homeowners who are upside down on their mortgage and need results fast should turn to the expertise of Mickey Hambright to guide them through the short sale process. Contact me today
for a free consultation.
Next, don't forget about 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, get in touch with your lender and tell them of the situation. They may even have a specific team that deals with short sales. Ask about their specific procedures. 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 approval for the final sale.