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Ready to short sell your home?
Not sure what a short sale is? A short sale occurs
when the amount of the outstanding loans are greater than the amount for which the home could sell.
This could be attributed to many factors, but most commonly is a result of a rapidly declining housing market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the difference.
What steps do I take in a short sale?
First, determine the true market value of your property.
A knowledgeable real estate professional, like those at STEVEN R LINDBURG, P.A. Anchor Real Estate, will be able to give you a good idea of what your property would likely sell for based on prior sales of similar houses in the area. Be cautious of websites where a computer estimates your house's market value since they may not have complete information or know important things like neighborhood trends and current listings.
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Need an honest idea of what your home could sell for today's market? Contact us today to find out how STEVEN R LINDBURG, P.A. Anchor Real Estate can help.
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Next, calculate your closing costs. The qualified REALTORS® at STEVEN R LINDBURG, P.A. Anchor Real Estate will account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, call your lender and tell them of the situation. They may even have a special team that manages short sales. Ask about their particular procedures. Some lenders will be more inclined to work with you than others. They may be able to lessen how much you owe or make other arrangements. Your lender will have to give approval for the final sale.
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STEVEN R LINDBURG, P.A. Anchor Real Estate 1103 Bald Eagle Dr. Marco Island, Florida 34145
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