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Time to short sell your home?
Don't know what a short sale is? A short sale is
when the amount of the outstanding loans are greater than the amount for which the home could sell.
Short sales are often caused by values in a market rapidly deflating.
For many homeowners, a short sale is an ideal way to prevent foreclosure or bankruptcy when they can negotiate with the lender to forgive the remainder of the loan.
How do I proceed with a short sale?
First, assess the true market value of your house.
A good REALTOR®, like those at Carol Jones Realtors, will be able to give you a good idea of what your house will possibly sell for based on a market analysis. Be careful of websites where a computer estimates your property's market value since they may not have complete information or know important things like neighborhood trends and current listings.
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When you're ready to get started, contact me through my site or e-mail me. I'm happy to answer questions you have regarding real estate short sales.
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Next, determine your closing costs. The knowledgeable REALTORS® at Carol Jones Realtors will consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, contact your lender and notify them of the situation. They may even have a particular team that handles short sales. Ask about their specific steps. Some lenders will be more willing to work with you than others. They may be able to reduce the amount owed or make other arrangements. Your lender will have to give approval for the final sale.
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Today's Rates:
| 30-yr Fixed | 3.79% | 3.91% | | 15-yr Fixed | 3.04% | 3.2% | | 1-yr Adj | 2.78% | 3.45% |
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