Do you need to short sell your home?Don't know what a short sale is? A short sale happens when the amount of the outstanding loans are greater than the value of the home. This situation is often caused by home prices in a market rapidly deflating.
Short sales may be a way for homeowners to avoid foreclosure and pay off their loan with the lender by settling.
How do I proceed with a short sale?First, get an idea of the true market value of your property. For those whose finances are already strained, engaging a licensed appraiser may not be an option. Therefore, a qualified local REALTOR® that knows the current conditions of the PEMBROKE PINES real estate market is the best way to get a realistic estimate of what your home could sell for.
|PEMBROKE PINES homeowners who are upside down on their home loan and need relief fast should turn to the expertise of Miami New Realty to guide them through the short sale process. Contact us today for a free consultation.|
Next, find out your closing costs. The knowledgeable agents at Miami New Realty will consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, contact your lender and notify them of your situation. They may even have a dedicated team that manages 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 the amount owed or make other arrangements. Your lender will have to give approval for the final sale.