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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 will possibly fetch in the open market.
This can be due to many reasons, but commonly is a result of a rapidly declining housing market.
Short sales can be a way for homeowners to avoid foreclosure and pay off their loan with the lender by settling.
What steps do I take in a short sale?
First, find out the true market value of your house.
If your finances are already pushed to the limit, paying a licensed appraiser may not be feasible. Therefore, an experienced local REALTOR® that knows the current conditions of the Boca Raton real estate market is a smart way to get a reliable estimate of your home's worth.
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To get top dollar for your distressed real estate in Boca Raton, it takes the level of know-how and experience we posses to get to the closing table quickly. Contact Lang Reatly today.
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Next, be sure to figure in your closing costs. The experienced REALTORS® at Lang Reatly will take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, contact your lender and tell them of the situation. They may even have a dedicated team that deals with short sales. Ask about their particular process. Some lenders will be more willing to work with you than others. They may be able to lessen the amount owed or make other arrangements. Your lender will have to give approval for the final sale.
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