Are you ready to short sell your home?
What is a short sale? A short sale is when the value of a home is less than what is owned. Short sales are often caused by values in a market rapidly declining.
Short sales could be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
How to do a short sale...
First, find out the true market value of your home. For those whose finances are already pushed to the limit, paying a licensed appraiser may not be an option. Therefore, a qualified local real estate professional that knows the current conditions of the Grand Prairie real estate market is a smart way to get an accurate estimate of what your home could sell for.
Grand Prairie homeowners who are upside down on their mortgage and need relief fast can rely on the expertise of Target Cost Realty, LLC to guide them through the short sale process. Contact me today
for a free consultation.
Next, estimate your closing costs. My work in this area means I know to take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, contact your lender and let them know of your situation. They may even have a dedicated department that deals with short sales. Ask about their particular procedures. Some lenders will be more inclined to work with you than others. They may be able to reduce the amount owed or make other arrangements. Your lender will have to give approval for the final sale.