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Are you ready to short sell your home?
Not sure what a short sale is? A short sale is
when you owe more than what the house will possibly sell for.
This could be caused by many reasons, but most commonly is a result of a rapidly declining housing market.
Short sales could be a way for homeowners to avert foreclosure and pay off their loan with the lender by settling.
How to do a short sale:
First, determine the true market value of your home.
A qualified real estate professional, like those at John Hayton, will be able to give you a realistic idea of what your property should possibly sell for based on a market analysis. Be careful 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.
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Should you have questions about real estate or what happens during a short sale in Orlando, Florida just contact me here or e-mail me.
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Next, find out your closing costs. The experienced real estate professionals at John Hayton will take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs upon closing.
Finally, get in touch with your lender and make them aware of the situation. They may even have a specific team that handles short sales. Ask about their exact procedures. Some lenders will be more inclined to work with you than others. They may be able to decrease the amount owed or make other arrangements. Your lender will have to agree to the final sale.
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