Don't know what a short sale is? A short sale is when the value of a home is less than what is owned. This could be attributed to many factors, but frequently is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to avoid foreclosure and pay off their loan with the lender by settling.
What's involved in a short sale?
First, assess the true market value of your home. Since paying for a licensed appraiser may not fit your already tight budget, an experienced local real estate agent that knows the current conditions of the Hollywood real estate market is a sound way to get a reliable opinion of your home's value.
Hollywood homeowners who are upside down on their mortgage and need relief fast can rely on the expertise of Real Estate 911 Inc to guide them through the short sale process. Contact us today for a free consultation.
Next, be sure to figure in your closing costs. The experienced real estate professionals at Real Estate 911 Inc will account for fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, contact your lender and make them aware of the situation. They may even have a particular department that manages short sales. Ask about their particular process. Some lenders will be more willing 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.
James Loftis Realtor/Real Estate Broker, CRS, GRI, CIPS,E-Pro,TRC,SFR
954-261-3361
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Real Estate 911 Inc 7121 Taft Street Hollywood, FL 33024