Do you need to short sell your home?
Not sure what a short sale is? A short sale occurs when the value of a home is less than the amount of the outstanding loans. Short sales are often caused by home values in an area rapidly declining.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the difference.
How do I proceed with a short sale?
First, find out 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 knowledgeable local REALTOR® that knows the current conditions of the Puyallup real estate market is a sound way to get an accurate opinion of your home's value.
Puyallup homeowners who are upside down on their home loan and need results fast can rely on the expertise of FirstPoint Real Estate to guide them through the short sale process.
Contact me today for a free consultation.
Next, calculate your closing costs. My work in this area means I know to consider fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, contact your lender and tell them of the situation. They may even have a special team that handles short sales. Ask about their particular process. Some lenders will be more able to work with you than others. They may be able to decrease the amount owed or make other arrangements. Your lender will have to approve the final sale.