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Short Sale Help 101
What is A Short Sale?
If you’re selling your home, you should consider a short sale when the value of the house is less than the amount of their outstanding loans. A short sale is when the sale falls short of the owned balanced within the property’s loan.
Will A Lender Accept A Short Sale?
While lenders are not too crazy about short sales because they suspect that foreclosure is near and that you’re exploring your last few options, it is also smart for lenders to resolve their problems as soon as possible.
Steps to Take in A Short Sale
- Contact a seller to assist you
- Find out what the true value of your property is
- Calculate your estimated closing costs
- Consider tax obligations!
- Figure out how much you actually owe on your property and remember to factor in your loans as well
- Calculate your equity
- Contact your lender to discuss your situation
- Find a buyer and sell your property
Even though this all sounds relatively simple, that’s not always the situation. It’s in your best interest to contact a professional to assist you with short sale help.
Visit HomeLink Homes, LLC at HomeLinkHomesllc.com for more information to help you with all your short sale needs!
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Posted on: Monday, August 9th, 2010 at 9:00 am
Posted in: Uncategorized
Tags: Home Link Homes, short sale help