Time to short sell your home?
Don't know what a short sale is? A short sale is when the amount of the outstanding loans is greater than the amount for which the home could sell. Short sales are often the result of home values in a market rapidly declining.
Short sales could be a way for homeowners to prevent foreclosure and get out from under their loan with the lender by settling.
How to do a short sale...
First, assess the true market value of your house. Since hiring a licensed appraiser may not work with your already tight budget, a knowledgeable local REALTOR® that knows the current conditions of the Puyallup real estate market is a sound way to get an accurate idea of what your home could sell for.
Puyallup homeowners who are upside down on their mortgage 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, determine your closing costs. My experience means I know to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, get in touch with your lender and notify them of your situation. They may even have a special department that deals with short sales. Ask about their specific steps. Some lenders will be more able to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to give consent for the final sale.