Do you need to short sell your home?
Not sure what a short sale is? A short sale is when you owe more than what the house is worth . This may be due to many causes, but frequently is a result of a rapidly declining real estate market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to write off the difference.
The process of a short sale...
First, figure out the true market value of your house. For those whose finances are already pushed to the limit, paying a licensed appraiser may not be feasible. Therefore, a knowledgeable local real estate professional that knows the current conditions of the Puyallup real estate market is a sound way to get a reliable opinion of your home's value.
Puyallup homeowners who are upside down on their mortgage and need results fast should turn to the expertise of FirstPoint Real Estate to guide them through the short sale process.
Contact me today for a free consultation.
Next, don't forget about your closing costs. My work in this area has taught me to consider fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, get in touch with your lender and tell them of the situation. They may even have a special department that deals with short sales. Ask about their particular procedures. Some lenders will be more willing to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to approve the final sale.