COLDWELL BANKER RESIDENTIAL BROKERAGE is there for homeowners needing to do a short sale Barrington, Illinois

Need to short sell your home?

Don't know what a short sale is? A short sale happens when the value of a home is less than the amount of the outstanding loans. Short sales are often caused by home values in an area rapidly declining.

For many homeowners, a short sale is an ideal way to prevent foreclosure or bankruptcy when they can get the lender to forgive the difference.


What's involved in a short sale?

First, determine the true market value of your home. Since hiring a licensed appraiser may not work with your already tight budget, a knowledgeable local real estate professional that knows the current conditions of the Barrington real estate market is the best way to get a realistic opinion of what your home could sell for.

Barrington homeowners who are upside down on their home loan and need results fast can rely on the expertise of COLDWELL BANKER RESIDENTIAL BROKERAGE to guide them through the short sale process. Contact us today for a free consultation.

Next, be sure to figure in your closing costs. The qualified REALTORS® at COLDWELL BANKER RESIDENTIAL BROKERAGE will take into account fees including title report, appraisal, escrow, property taxes, and agent commissions to calculate your final costs upon closing.

Finally, call your lender and let them know of the situation. They may even have a specific team that deals with short sales. Ask about their particular steps. Some lenders will be more inclined to work with you than others. They may be able to decrease your loan principal or make other arrangements. Your lender will have to approve the final sale.


COLDWELL BANKER RESIDENTIAL BROKERAGE 530 N. Hough Street, Suite 180 Barrington, IL 60010
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