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Time to short sell your home?
Not sure what a short sale is? A short sale is
when the value of a home is less than what is owned.
This could be attributed to many causes, but often is a result of a rapidly declining real estate market.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the difference.
How do I proceed with a short sale?
First, get an idea of the true market value of your house.
A qualified real estate professional, like those at Wendy Carugno & Kathy Puschmann, will be able to give you a reasonable idea of what your property should probably sell for based on a market analysis. Watch out for websites where a computer estimates your house's market value since they may not have complete information or know important things like neighborhood trends and current listings.
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When the time comes to sell your house, Wendy Carugno & Kathy Puschmann can help. Take advantage of our experience and knowledge of the local real estate market in Orlando to sell your home quickly. Contact us today.
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Next, estimate your closing costs. The qualified REALTORS® at Wendy Carugno & Kathy Puschmann will take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.
Finally, contact your lender and tell them of your situation. They may even have a specific department that handles short sales. Ask about their specific process. Some lenders will be more inclined 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.
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