Not sure what a short sale is? A short sale occurs when you owe more than what the house will possibly fetch in the open market. This could be attributed to many reasons, but most often is a result of a rapidly declining real estate market.
Short sales can be a way for homeowners to preclude foreclosure and get out from under their loan with the lender by settling.
How do I proceed with a short sale?
First, assess the true market value of your home. An experienced REALTOR®, like those at KELLER WILLIAMS REALTY Atlantic Partners, will be able to give you a realistic idea of what your house would likely sell for based on a market analysis. Watch out for 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.
St Augustine homeowners who are upside down on their mortgage and need relief fast should turn to the expertise of KELLER WILLIAMS REALTY Atlantic Partners 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 qualified real estate professionals at KELLER WILLIAMS REALTY Atlantic Partners will account for fees like 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 the situation. They may even have a specific team that deals with short sales. Ask about their particular steps. Some lenders will be more able to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to approve the final sale.
KELLER WILLIAMS REALTY Atlantic Partners 2730 SR 16, Ste 115 St Augustine, FL 32092
