Are you ready to short sell your home?
What is a short sale? A short sale happens when the amount of the outstanding loans is greater than the value of the home. This may be caused by many reasons, but often is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
The process of a short sale...
First, determine the true market value of your property. For those whose finances are already stretched, engaging a licensed appraiser may not be an option. Therefore, a qualified local real estate professional that knows the current conditions of the Sherman Oaks real estate market is the best way to get a realistic estimate of your home's worth.
When it's time to sell your property, Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 is ready. Use my experience and knowledge of the local real estate market in Sherman Oaks to sell your home quickly.
Contact us today.
Next, don't forget about your closing costs. My work in this area means I know to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, get in touch with your lender and let them know of your situation. They may even have a particular team that handles short sales. Ask about their specific steps. Some lenders will be more able to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to approve the final sale.