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Ready to short sell your home? What is a short sale? A short sale is when the value of a home is less than the amount of the outstanding loans. This situation is often the result of prices in an area rapidly declining.
Short sales can be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
What's involved in a short sale?First, find out the true market value of your property. An experienced Realtor professional, like those at Chapman Hall Realtors, will be able to give you a good idea of what your house would possibly sell for based on a market analysis. Be careful of websites where a computer estimates your house's market value since they may not have complete information or know important things like neighborhood trends and current listings.
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To get top dollar for your distressed real estate in Atlanta, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Chapman Hall Realtors today. |
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Next, don't forget about your closing costs. The qualified REALTORS® at Chapman Hall Realtors will take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, call your lender and tell them of your situation. They may even have a specific department that manages short sales. Ask about their exact procedures. Some lenders will be more able to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to agree to the final sale.
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