|
|
Is it time to short sell your home? Not sure what a short sale is? A short sale happens when the value of a home is less than what is owned. Short sales are often the result of values in a market rapidly deflating.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can negotiate with the lender to forgive the difference.
What steps do I take in a short sale?First, find out the true market value of your property. For those whose finances are already stretched, hiring a licensed appraiser may not be feasible. Therefore, a knowledgeable local real estate professional that knows the current conditions of the Marin County real estate market is a sound way to get an accurate opinion of your home's value.
 |
 |
 |
Should you have concerns pertaining to real estate or what happens during a short sale in Marin County, California just contact me here or e-mail me. |
|
|
|
 |
Next, determine your closing costs. The experienced REALTORS® at Area Pro Realty - Bay Area Villas will account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.
Finally, contact your lender and let them know of your situation. They may even have a special team that deals with short sales. Ask about their exact steps. Some lenders will be more able to work with you than others. They may be able to lessen your loan principal or make other arrangements. Your lender will have to give approval for the final sale.
|
|
|
