Not sure what a short sale is? A short sale happens when you owe more than what the house is worth. This could be caused by many factors, but most often is a result of a rapidly declining housing market.
For many homeowners, a short sale is an ideal way to prevent foreclosure or bankruptcy when they can get the lender to write off the remainder of the loan.
How to do a short sale:
First, determine the true market value of your house. If your finances are already strained, engaging a licensed appraiser may not be feasible. Therefore, a qualified local real estate agent that knows the current conditions of the Ocean County real estate market is the best way to get an accurate estimate of what your home could sell for. The following towns I service:
BARNEGAT , NJ 08005
BARNEGAT LIGHT , NJ 08006
BAYVILLE , NJ 08721
BEACH HAVEN , NJ 08008
BEACHWOOD , NJ 08722
BRADLEY BEACH , NJ 07720
BRICK , NJ 08723
BRICK , NJ 08724
FORKED RIVER , NJ 08731
ISLAND HEIGHTS , NJ 08732
JACKSON , NJ 08527
LAKEHURST , NJ 08733
LAKEWOOD , NJ 08701
LANOKA HARBOR , NJ 08734
LAVALLETTE , NJ 08735
MANAHAWKIN , NJ 08050, STAFFORD TOWNSHIP,
MANCHESTER TOWNSHIP , NJ 08759
MANTOLOKING , NJ 08738
NEW EGYPT , NJ 08533
NEW GRETNA , NJ 08224
OCEAN GATE , NJ 08740
SEASIDE HEIGHTS , NJ 08751
SEASIDE PARK , NJ 08752
TOMS RIVER , NJ 08753
TOMS RIVER , NJ 08754
TOMS RIVER , NJ 08755
TOMS RIVER , NJ 08756
TOMS RIVER , NJ 08757
TUCKERTON , NJ 08087
WARETOWN , NJ 08758
WEST CREEK , NJ 08092
Should you have concerns about real estate or what happens during a short sale in Ocean County, New Jersey you can contact me here or e-mail me.
Next, calculate your closing costs. Charlene Grant, Broker Associate at RE/MAX New Beginnings, LLC will account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs upon closing.
Finally, call your lender and notify them of the situation. They may even have a special team that handles short sales. Ask about their particular procedures. Some lenders will be more inclined 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 approve the final sale.
* MOL = More or Less
Your Jersey Shore Real Estate Shopping Assistant Charlene Grant, Broker Associate
RE/MAX New Beginnings Realty, 411 Main St., Toms River, NJ 08753 Cell Direct 609-312-6625
