Short sell your home and avoid foreclosure 575 461-2100

McElroy & Associates is there for consumers needing to do a short sale Tucumcari, New Mexico

Need to short sell your home?

Not sure what a short sale is? A short sale occurs when the value of a home is less than the amount of the outstanding loans. This situation is typically caused by values in a market rapidly declining.

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

How to do a short sale...

First, assess the true market value of your property. Since paying for a licensed appraiser may not work with your already tight budget, an experienced local real estate professional that knows the current conditions of the Tucumcari real estate market is a sound way to get an accurate estimate of your home's value.

If you have any concerns pertaining to real estate or the process of going through a short sale in Tucumcari, New Mexico just contact me here or e-mail me.

Next, find out your closing costs. My experience has taught me to take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at the closing table.

Finally, call your lender and make them aware of your situation. They may even have a particular department that oversees 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 give approval for 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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