Time 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 . Short sales are usually caused by home values in an area rapidly declining.
Short sales can be a way for homeowners to avoid foreclosure and pay off their loan with the lender by settling.
The process of a short sale...
First, find out the true market value of your property. If your finances are already strained, engaging a licensed appraiser may not be an option. Therefore, an experienced local real estate professional that knows the current conditions of the Sherman Oaks real estate market is the best way to get a realistic opinion of your home's worth.
Sherman Oaks homeowners who are upside down on their mortgage and need relief fast should turn to the expertise of Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 to guide them through the short sale process. Contact me today
for a free consultation.
Next, calculate your closing costs. My experience means I know to take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, contact your lender and notify them of the situation. They may even have a dedicated department that handles short sales. Ask about their exact procedures. Some lenders will be more willing to work with you than others. They may be able to decrease how much you owe or make other arrangements. Your lender will have to give consent for the final sale.
Looking to Sell?
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