ROYAL HERITAGE REALTY is there for homeowners needing to execute a short sale Flossmoor, Illinois

Do you need to short sell your home?

Not sure what a short sale is? A short sale happens when you owe more than what the house will possibly sell for. This may be attributed to many factors, but often is a result of a rapidly declining housing market.

For many homeowners, a short sale is an ideal way to preclude foreclosure or bankruptcy when they can negotiate with the lender to write off the remainder of the loan.

What's involved in a short sale?

First, assess the true market value of your home. A qualified REALTOR^®, like those at ROYAL HERITAGE REALTY, will be able to give you a good idea of what your home should probably sell for based on a market analysis. Be cautious of websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.


	Need an honest idea of what your home could sell for today's market? Contact us today to find out how ROYAL HERITAGE REALTY can help.

Next, calculate your closing costs. The experienced real estate professionals at ROYAL HERITAGE REALTY will consider fees including title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs upon closing.

Finally, contact your lender and notify them of your situation. They may even have a dedicated department that handles short sales. Ask about their particular procedures. Some lenders will be more able to work with you than others. They may be able to decrease how much you owe or make other arrangements. Your lender will have to agree to the final sale.