The Washington Agency is there for homeowners needing to do a short sale Torrington, Connecticut

Do you need to short sell your home?

Not sure what a short sale is? A short sale happens when the amount of the outstanding loans are greater than the value of the home. This situation is often caused by home values in an area rapidly declining.

Short sales could be a way for homeowners to avoid foreclosure and get out from under their loan with the lender by settling.

What steps do I take in a short sale?

First, assess the true market value of your property. A knowledgeable real estate professional, like those at The Washington Agency, will be able to give you a realistic idea of what your property should likely sell for based on prior sales of similar houses in the area. Be cautious of websites where a computer estimates your home's market value since they may not have complete information or know important things like neighborhood trends and current listings.


	If you have any questions regarding real estate or what happens during a short sale in Torrington, Connecticut simply contact me here or e-mail me.

Next, find out your closing costs. The qualified REALTORS^® at The Washington Agency will take into account fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.

Finally, contact your lender and notify them of the situation. They may even have a special department that manages short sales. Ask about their particular procedures. Some lenders will be more able to work with you than others. They may be able to reduce your loan principal or make other arrangements. Your lender will have to give consent for the final sale.

Dan Mordecai Broker

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