Not sure what a short sale is? A short sale occurs
when the amount of the outstanding loans are greater than the value of the home.
This may be attributed to many causes, but most often is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
The process of a short sale:
First, find out the true market value of your property.
A qualified REALTOR®, like those at Sandra Desmith Hablo Español DRE License #01494304. Office Coldwell Banker Associated Brokers, will be able to give you a realistic idea of what your house will probably sell for based on a market analysis. Beware of websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.
When it's time to sell your property, Sandra Desmith Hablo Español DRE License #01494304. Office Coldwell Banker Associated Brokers can help. Use our expertise and knowledge of the local real estate market in Yuba City to sell your home quickly. Contact us today.
Next, find out your closing costs. The knowledgeable real estate professionals at Sandra Desmith Hablo Español DRE License #01494304. Office Coldwell Banker Associated Brokers will take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, contact your lender and let them know of the situation. They may even have a dedicated team that manages short sales. Ask about their exact process. Some lenders will be more inclined to work with you than others. They may be able to decrease how much you owe or make other arrangements. Your lender will have to agree to the final sale.
Sandra Desmith Hablo Español DRE License #01494304. Office Coldwell Banker Associated Brokers
