Ready to short sell your home?
Don't know what a short sale is? A short sale happens
when the value of a home is less than the amount of the outstanding loans.
This can be attributed to many causes, but most often is a result of a rapidly declining real estate market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the remainder of the loan.
How do I proceed with a short sale?
First, determine the true market value of your house.
If your finances are already pushed to the limit, paying a licensed appraiser may not be an option. Therefore, a knowledgeable local REALTOR® that knows the current conditions of the Park City real estate market is the best way to get a realistic estimate of your home's worth.
When it's time to sell your home, Brown & Company of Park City, Inc. will help. Take advantage of my experience and knowledge of the local real estate market in Park City to sell your home quickly.
Contact us today.
Next, be sure to figure in your closing costs. My experience means I know to account for fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs upon closing.
Finally, contact your lender and notify them of your situation. They may even have a particular 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 the amount owed or make other arrangements. Your lender will have to approve the final sale.