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Is it time to short sell your home?
Don't know what a short sale is? A short sale is
when the value of a home is less than the amount of the outstanding loans.
This may be attributed to many reasons, but commonly is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to prevent foreclosure and get out from under their loan with the lender by settling.
The process of a short sale:
First, determine the true market value of your property.
Since hiring a licensed appraiser may not fit your already tight budget, an experienced local real estate agent that knows the current conditions of the Venice real estate market is a smart way to get a reliable opinion of what your home could sell for.
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Should you have concerns regarding real estate or what happens during a short sale in Venice, Florida simply contact me here or e-mail me.
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Next, estimate your closing costs. The qualified real estate professionals at Alice Salaices - Realtor will account for fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, get in touch with your lender and notify them of the situation. They may even have a special team that manages short sales. Ask about their specific process. Some lenders will be more able to work with you than others. They may be able to reduce the amount owed or make other arrangements. Your lender will have to agree to the final sale.
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