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Time to short sell your home?
What is a short sale? A short sale happens
when the value of a home is less than what is owned.
This may be due to many reasons, but often is a result of a rapidly declining housing market.
For many homeowners, a short sale is an ideal way to avert foreclosure or bankruptcy when they can negotiate with the lender to write off the difference.
What's involved in a short sale?
First, assess the true market value of your house.
A qualified real estate professional, like those at Watson Realty Corp, will be able to give you a good idea of what your home will probably sell for based on prior sales of similar houses in the neighborhood. Be cautious of 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 home, Watson Realty Corp is ready. Take advantage of our expertise and knowledge of the local real estate market in Orlando to sell your home quickly. Contact us today.
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Next, don't forget about your closing costs. The qualified agents at Watson Realty Corp will take into account fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.
Finally, call your lender and tell them of your situation. They may even have a dedicated department that oversees short sales. Ask about their specific steps. 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 give consent for the final sale.
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Donald Migliore P.A. ABR, CIPS, GRI, SRES, TRC Residential/Commercial - International Sales ABR - Accredited Buyer Representive CIPS - Certified International Property Specialist GRI - Graduate Realtor Institute SRES - Senior Real Estate Specialist TRC - Transnational Referral Certification
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