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Do you need to short sell your home?
Not sure 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 could be due to many causes, but most commonly is a result of a rapidly declining real estate market.
For many homeowners, a short sale is an ideal way to preclude foreclosure or bankruptcy when they can get the lender to write off the remainder of the loan.
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 work with your already tight budget, a knowledgeable local real estate agent that knows the current conditions of the Parrish real estate market is the best way to get a realistic opinion of what your home could sell for.
Next, don't forget about your closing costs. The knowledgeable real estate agents at Leslie Wells Realty, Inc will take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, contact your lender and make them aware of the situation. They may even have a special team that handles short sales. Ask about their particular steps. Some lenders will be more willing to work with you than others. They may be able to lessen your loan principal or make other arrangements. Your lender will have to approve the final sale.
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Leslie Wells Realty, Inc 8338 US 301 N Parrish, FL 34219
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