What is a short sale? A short sale is when you owe more than what the house is worth. Short sales are often the result of prices in a market rapidly deflating.
For many homeowners, a short sale is an ideal way to prevent foreclosure or bankruptcy when they can get the lender to forgive the remainder of the loan.
How do I proceed with a short sale?
First, figure out the true market value of your house. Since your already on a tight budget, Team Solkin will provide this to you for free. We are experienced with short sales and have proven results. To Know current conditions of the real estate market is a sound way to get a reliable idea of what your home could sell for.
||When it's time to sell your home, TEAM SOLKIN will help. Take advantage of our experience and knowledge of the local real estate market in Tampa Bay to sell your home quickly. Call today for a FREE confidential consultation (813) 802-7653.
Next, calculate your closing costs. Team Solkin will take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing. The good news is our associated real estate lawyer will negotiate for you and your lender will pay all your fees. Thats right we promise no money out of your pocket!
Finally, The short sale attorney will notify your lender of your situation. They may even have a particular team that manages short sales. We know the process for all of the lenders from experience. Some lenders will be more able to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to give consent for the final sale.