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Ready to short sell your home?
What is a short sale? A short sale is when you owe more than what the house is worth . Short sales are usually caused by home values in an area rapidly declining.
Short sales may be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
What's involved in 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 feasible. Therefore, a qualified local REALTOR® that knows the current conditions of the Sherman Oaks real estate market is the best way to get an accurate idea of what your home could sell for.
When you're ready to sell your house, Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 will help. Use my expertise 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 experience means I know to take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs upon closing.
Finally, call your lender and notify them of the situation. They may even have a particular team that handles short sales. Ask about their exact process. Some lenders will be more able to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to agree to the final sale.