Our Atlanta home prices are not the lowest in the USA; 16 other major metro areas are lower according to S&P Case-Shiller Index surveys. Moral to the story is “don’t try and sell unless you absolutely have to” because home prices are where they were in May, 2000, which is a 24.3% decline from the high in August 2007. If you have to sell, chances are your home’s mortgage may be greater than it’s current market value, which is known as the home being under water. If that is the case, you either have to sell at a loss and you pay for the shortage at the closing or go for a Short Sale. In a Short Sale you ask the bank to accept less than the home is worth and forgive the mortgage difference between the sale price and the amount you owe. Only a competent, trained REALTOR should engage in the process and yes, your home has to be marketed by a REALTOR. You cannot sell your home by yourself. Further questions, just give me a call at 770-377-5793. I specialize in helping people through the Short Sale process.
find information for this article at: