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The Pennington Company Real Estate and Investments is there for consumers needing to do a short sale Burr Ridge, Illinois

Are you ready to short sell your home?

What is a short sale? A short sale is when the amount of the outstanding loans is greater than the amount for which the home could sell. Short sales are usually caused by home values 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.


How do I proceed with a short sale?

First, get an idea of the true market value of your house. A qualified real estate professional, like those at The Pennington Company Real Estate and Investments, will be able to give you a good idea of what your property will possibly sell for based on prior sales of similar houses in the area. Beware of websites where a computer estimates your property's market value since they may not have complete information or know important things like neighborhood trends and current listings.

When you're ready to get started, contact me through my site or e-mail me. I'm glad to address any questions you have regarding real estate short sales.

Next, don't forget about your closing costs. My experience has taught me to account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.

Finally, call your lender and notify them of your situation. They may even have a special team that handles short sales. Ask about their exact steps. Some lenders will be more willing to work with you than others. They may be able to reduce the amount owed or make other arrangements. Your lender will have to agree to the final sale.

Looking to Sell?

Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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