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Time to short sell your home?
Don't know what a short sale is? A short sale is
when you owe more than what the house is worth.
This situation is often caused by values in a market rapidly deflating.
Short sales could be a way for homeowners to preclude foreclosure and pay off their loan with the lender by settling.
The process of a short sale:
First, figure out the true market value of your house.
If your finances are already strained, paying a licensed appraiser may not be an option. Therefore, a qualified local REALTOR® that knows the current conditions of the California real estate market is a sound way to get an accurate idea of your home's value.
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When it's time to sell your house, THE YOWELL TEAM, Josh & Erika Yowell is ready. Use our expertise and knowledge of the local real estate market in California to sell your home quickly. Contact us today.
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Next, determine your closing costs. The knowledgeable agents at THE YOWELL TEAM, Josh & Erika Yowell will account for fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.
Finally, call your lender and tell them of your situation. They may even have a special department that oversees short sales. Ask about their particular process. Some lenders will be more willing to work with you than others. They may be able to decrease how much you owe or make other arrangements. Your lender will have to give approval for the final sale.
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