Are you ready to short sell your home?
Don't know what a short sale is? A short sale happens when you owe more than what the house will possibly sell for . Short sales are typically caused by home prices in an area rapidly deflating.
For many homeowners, a short sale is an ideal way to avoid foreclosure or bankruptcy when they can negotiate with the lender to write off the difference.
What steps do I take in a short sale?
First, get an idea of the true market value of your house. Since paying for a licensed appraiser may not fit your already tight budget, a knowledgeable local real estate agent that knows the current conditions of the Grand Prairie real estate market is the best way to get a reliable opinion of your home's value.
To get top dollar for your distressed real estate in Grand Prairie, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Target Cost Realty, LLC today
Next, don't forget about your closing costs. My experience has taught me to account for fees including 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 make them aware of your situation. They may even have a specific department that deals with short sales. Ask about their specific steps. Some lenders will be more willing to work with you than others. They may be able to lessen how much you owe or make other arrangements. Your lender will have to give approval for the final sale.