Redfin

MARCH 4, 2025

Foreclosure can damage your credit score, so you may want to consider a short sale if this is the case. However, your lender will need to agree to a short sale so its best to speak with them as soon as you can. If you have negative equity in your home due to missed payments, you may face foreclosure.

Equity 35

Equity Loans Seller concession Short sale 35

HomeLight

OCTOBER 30, 2020

You’ll also need to factor in any fees for staging and preparing the house for sale, your real estate agent commission , closing fees, seller concessions, and moving costs. If your sale proceeds won’t cut it, the next question is whether you could bring money to the table to cover those costs.

Short sale 105

Short sale Banks Equity Mortgages 105

HomeLight

JULY 25, 2022

Choose a short sale: If you’re behind on your mortgage payments or owe more than the home’s current value, you may want to think about a short sale as a way to avoid foreclosure. That can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification. Seller concessions (2%-6%).

Closing costs 110

Closing costs Short sale Equity Sales 110

HomeLight

JULY 25, 2022

Forgiven debt can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification. Closing fees to sell, which include title fees, transfer taxes, escrow fees, recording fees, and prorated property taxes (1%-3% of the sale price). Seller concessions (2%-6%). Overlap costs (1%-2%).

Closing costs 111

Closing costs Equity Short sale Agents 111