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Need to short sell your home?
Don't know what a short sale is? A short sale occurs
when you owe more than what the house will possibly fetch in the open market.
This situation is usually caused by home prices in a market rapidly declining.
Short sales could be a way for homeowners to avert foreclosure and get out from under their loan with the lender by settling.
What's involved in a short sale?
First, assess the true market value of your home.
A qualified real estate professional, like those at EZ Home Search Real Estate, will be able to give you a reasonable idea of what your house would possibly sell for based on prior sales of similar houses in the neighborhood. Beware 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 it's time to sell your house, EZ Home Search Real Estate will help. Take advantage of our experience and knowledge of the local real estate market in Fall River to sell your home quickly. Contact us today.
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Next, don't forget about your closing costs. The knowledgeable REALTORS® at EZ Home Search Real Estate will consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs at closing.
Finally, call your lender and notify them of the situation. They may even have a specific department that deals with short sales. Ask about their particular steps. Some lenders will be more willing to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to agree to the final sale.
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EZHS Agents
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