Need to short sell your home?Don't know what a short sale is? A short sale happens when you owe more than what the house will possibly sell for. This can be attributed to many causes, but frequently is a result of a rapidly declining real estate market.
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's involved in a short sale?First, find out the true market value of your property. For those whose finances are already stretched, engaging a licensed appraiser may not be an option. Therefore, an experienced local real estate professional that knows the current conditions of the Miami real estate market is a sound way to get a realistic estimate of what your home could sell for.
|When you're ready to get started, contact me through my site or e-mail me. I'm happy to answer questions you have about real estate short sales.|
Next, find out your closing costs. The qualified real estate agents at Barreiro's Realty Services, inc. will 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 tell them of your situation. They may even have a specific department that deals with short sales. Ask about their particular steps. Some lenders will be more inclined to work with you than others. They may be able to decrease the amount owed or make other arrangements. Your lender will have to agree to the final sale.