Willis Real Estate Group is there for homeowners needing to execute a short sale Fort Lauderdale, Florida

Is it time to short sell your home?

What is a short sale? A short sale occurs when you owe more than what the house will possibly fetch in the open market. This situation is typically caused by values in an area rapidly declining.

For many homeowners, a short sale is an ideal way to preclude foreclosure or bankruptcy when they can negotiate with the lender to forgive the difference.

What's involved in a short sale?

First, figure out the true market value of your house. An experienced REALTOR^®, like those at Willis Real Estate Group, will be able to give you a good idea of what your home will likely sell for based on prior sales of similar houses in the neighborhood. 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.


	Need real estate advice? Contact us today to find out how Willis Real Estate Group can help.

Next, estimate your closing costs. The experienced agents at Willis Real Estate Group will consider fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.

Finally, get in touch with your lender and notify them of your situation. They may even have a specific department that manages short sales. Ask about their particular steps. 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 agree to the final sale.