Do you need to short sell your home?
What is a short sale? A short sale is when you owe more than what the house is worth . This situation is usually the result of home values in an area rapidly deflating.
Short sales can be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.
What's involved in a short sale?
First, figure out the true market value of your house. If your finances are already pushed to the limit, hiring a licensed appraiser may not be an option. Therefore, a knowledgeable local REALTOR® that knows the current conditions of the Puyallup real estate market is a sound way to get a reliable opinion of your home's value.
If you have concerns about real estate or the process of going through a short sale in Puyallup, Washington simply
contact me here or
e-mail me.
Next, be sure to figure in your closing costs. My work in this area has taught me to account for fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, get in touch with your lender and let them know of your situation. They may even have a dedicated department that oversees short sales. Ask about their specific procedures. Some lenders will be more willing to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to approve the final sale.