Ready to short sell your home? Don't know what a short sale is? A short sale is when the value of a home is less than what is owned. This could be caused by many causes, but commonly is a result of a rapidly declining housing market.
Short sales can be a way for homeowners to preclude foreclosure and pay off their loan with the lender by settling.
What steps do I take in a short sale?First, determine the true market value of your property. Since paying for a licensed appraiser may not fit your already tight budget, a qualified local real estate professional that knows the current conditions of the Delray Beach real estate market is a sound way to get a realistic estimate of your home's value.
Next, find out your closing costs. The qualified real estate professionals at The Peg Delp Team will consider fees including title report, appraisal, escrow, property taxes, and agent commissions to estimate your final costs at closing.
Finally, get in touch with your lender and notify them of your situation. They may even have a special department that deals with short sales. Ask about their particular procedures. Some lenders will be more able to work with you than others. They may be able to lessen how much you owe or make other arrangements. Your lender will have to give approval for the final sale.
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M. Peg Delp Realtor, CRS., GRI., CHMS, CPMS, CDPE, Associate Broker, Realtor®
700 East Atlantic Ave. Delray Beach, FL 33431 Office: 561.436.5560 
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