RICHARD GRECO REAL ESTATE is there for sellers needing to execute a short sale Bronx, New York

Is it time to short sell your home?

Not sure what a short sale is? A short sale occurs when you owe more than what the house will possibly sell for. This could be caused by many causes, but most often is a result of a rapidly declining real estate market.

Short sales may be a way for homeowners to prevent foreclosure and pay off their loan with the lender by settling.

What's involved in a short sale?

First, figure out the true market value of your property. Since hiring a licensed appraiser may not work with your already tight budget, an experienced local real estate professional that knows the current conditions of the Bronx real estate market is a sound way to get a realistic idea of your home's worth.


	Need an honest idea of what your home's value today's market? Contact us today to find out how RICHARD GRECO REAL ESTATE can help.

Next, calculate your closing costs. The qualified real estate professionals at RICHARD GRECO REAL ESTATE will account for fees such as title report, appraisal, escrow, property taxes, and agent commissions to tally your final costs at closing.

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

* MOL = More or Less