Do you need to short sell your home?
What is a short sale? A short sale occurs when the value of a home is less than the amount of the outstanding loans. This may be caused by many causes, but frequently is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
What's involved in a short sale?
First, assess the true market value of your house. Since hiring a licensed appraiser may not fit your already tight budget, an experienced local real estate professional that knows the current conditions of the Indianapolis real estate market is a sound way to get a realistic idea of your home's worth.
When it's time to sell your house, The Sanders Group Realty is ready. Use our expertise and knowledge of the local real estate market in Indianapolis to sell your home quickly.
Contact us today.
Next, calculate your closing costs. Our experience means we know to take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs upon closing.
Finally, call your lender and let them know of your situation. They may even have a particular team that oversees short sales. Ask about their particular process. Some lenders will be more inclined 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.
loan principal or make other arrangements. Your lender will have to approve the final sale.