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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 the amount of the outstanding loans.
Short sales are usually caused by prices in a market rapidly declining.
For many homeowners, a short sale is preferential to foreclosure or bankruptcy when they can get the lender to forgive the difference.
What's involved in a short sale?
First, determine the true market value of your property.
A qualified REALTOR®, like those at Heli Sairanen, Broker, Coldwell Banker BOV, will be able to give you a reasonable idea of what your house will probably sell for based on a market analysis. Watch out for websites where a computer estimates your property'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 home, Heli Sairanen, Broker, Coldwell Banker BOV will help. Take advantage of our expertise and knowledge of the local real estate market in Napa to sell your home quickly. Contact us today.
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Next, don't forget about your closing costs. The knowledgeable REALTORS® at Heli Sairanen, Broker, Coldwell Banker BOV will consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, call your lender and let them know of your situation. They may even have a dedicated department 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 reduce your loan principal or make other arrangements. Your lender will have to agree to the final sale.
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