MKB Realtors is there for consumers needing to do a short sale Roanoke, Virginia

Is it time to short sell your home?

Not sure what a short sale is? A short sale happens when you owe more than what the house is worth. Short sales are often caused by values in an area rapidly deflating.

For many homeowners, a short sale is an ideal way to preclude foreclosure or bankruptcy when they can negotiate with the lender to write off the difference.

How to do a short sale:

First, figure out the true market value of your house. A good REALTOR^®, like those at MKB Realtors, will be able to give you a good idea of what your home would possibly sell for based on prior sales of similar houses in the area. Beware of websites where a computer estimates your house's market value since they may not have complete information or know important things like neighborhood trends and current listings.


	Need real estate advice? Contact us today to find out how MKB Realtors can help.

Next, determine your closing costs. The experienced real estate professionals at MKB Realtors will account for fees including title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at the closing table.

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