Lake, Seminole and Orange County Real Estate News

Short Sale Example:  If the loan amount on your property is $180,000 and the property can only be sold for $120,000 today (less $15,000 in closing costs), you would only have $105,000 left to pay to bank. You have 2 options: 1) Bring $75,000 cash to closing, or option 2) Short Sell and ask the bank to forgive the difference.

 In a short sale, the bank will have to agree to reduce the outstanding loan balance to $95,000 in order to allow the short sale to close. The sellers closing costs are paid from the bank proceeds: Realtors Commissions, Sellers Attorney legal fees, Property Taxes, Title insurance, etc.

Beginning the short sale process can be somewhat intimdating. Contact me and I can help guide you in the right direction.   

I am the Realtor that "Puts My Hart Into Every Sale!"

Cheri@DaveLoweRealty.com