Joseph A. DelForno Inc. is there for consumers needing to execute a short sale Jersey City, New Jersey

Time to short sell your home?

What is a short sale? A short sale is when the amount of the outstanding loans are greater than the amount for which the home could sell. This could be caused by many reasons, but most often is a result of a rapidly declining housing market.

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

How to do a short sale:

First, assess the true market value of your home. For those whose finances are already stretched, engaging a licensed appraiser may not be feasible. Therefore, an experienced local REALTOR^® that knows the current conditions of the Jersey City real estate market is a smart way to get a realistic opinion of your home's worth.


	When you're ready to sell your home, Joseph A. DelForno Inc. is ready. Take advantage of our experience and knowledge of the local real estate market in Jersey City to sell your home quickly. Contact us today.

Next, calculate your closing costs. The knowledgeable REALTORS^® at Joseph A. DelForno Inc. will consider fees like title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.

Finally, call your lender and tell them of the situation. They may even have a specific team that oversees short sales. Ask about their particular process. Some lenders will be more inclined to work with you than others. They may be able to reduce how much you owe or make other arrangements. Your lender will have to approve the final sale.