Prudential Florida Realty is there for consumers needing to do a short sale Palm Beach Gardens, Florida

Is it time to short sell your home?

Not sure what a short sale is? A short sale occurs when the value of a home is less than what is owned. This could be attributed to many causes, but frequently is a result of a rapidly declining housing market.

For many homeowners, a short sale is an ideal way to avoid foreclosure or bankruptcy when they can get the lender to write off the remainder of the loan.


How do I proceed with a short sale?

First, figure out the true market value of your house. An experienced real estate professional, like those at Prudential Florida Realty, will be able to give you a good idea of what your house will possibly sell for based on prior sales of similar houses in the neighborhood. Be cautious of websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.

Should you have any questions pertaining to real estate or what happens during a short sale in Palm Beach Gardens, Florida simply contact me here or e-mail me.

Next, estimate your closing costs. The experienced real estate professionals at Prudential Florida Realty will account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.

Finally, get in touch with your lender and tell them of the situation. They may even have a special department that handles short sales. Ask about their exact process. Some lenders will be more inclined to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to give approval for the final sale.


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