What is a short sale? A short sale happens when you owe more than what the house is worth. This situation is usually the result of home values in a market rapidly deflating.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the remainder of the loan.
What's involved in a short sale?
First, assess the true market value of your home. For those whose finances are already stretched, hiring a licensed appraiser may not be feasible. Therefore, a qualified local real estate professional that knows the current conditions of the Orlando area real estate market is a sound way to get a reliable estimate of your home's worth.
When you're ready to get started, contact us through our site or e-mail us. We'll be happy to address questions you have about real estate short sales.
Next, don't forget about your closing costs. The experienced agents at Proactive Realty Group, LLC will account for fees including 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 your situation. They may even have a special department that deals with short sales. Ask about their particular process. Some lenders will be more able to work with you than others. They may be able to lessen how much you owe or make other arrangements. Your lender will have to give approval for the final sale.
* MOL = More or Less
Proactive Realty Group, LLC P. O. Box 1811 Windermere, FL 34786
