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Thinking of selling your house? It's exciting, but also overwhelming. Real estate agents focus on staging and pricing, but what if we told you there is another first step that saves you time, stress, and potentially money?
Flip the Switch: Knowledge is Power
Before diving into open houses, let's get organized with these key actions:
Know Your Bottom Line: Order a mortgage payoff quote. This reveals the exact amount you owe on your current mortgage, including accrued interest.
Unlock Your Equity: Obtain a title report. This document verifies your ownership and checks for any liens or claims against the property.
Closing Cost Clarity: Research typical closing costs in your area. These include fees associated with selling your property.
Closing Cost Examples
Mortgage Payoff vs. Balance: Why It Matters
Your mortgage balance is the remaining principal you owe on your loan. However, the mortgage payoff quote includes the balance plus any accrued interest up to the closing date. This difference can significantly impact your bottom line.
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My Home My Sale: Your FSBO Partner
At My Home My Sale, we empower FSBO sellers with the tools and resources to navigate the selling process with confidence. Our platform offers valuable resources to help you:
Find Reputable Title Companies: Access a network of reputable title companies to obtain your title report conveniently. Ask us to find one for you.
Connect with Mortgage Lenders: Secure a mortgage payoff quote quickly and easily through your mortgage servicer.
Helpful Links:
For Sale By Owner Websites:
Other Helpful Links:
*Here are some of the largest mortgage servicers in the United States:
Wells Fargo In February 2024, Wells Fargo was ranked first by the MBA for master and primary servicing with $669 billion.
PNC Real Estate/Midland Loan Services In February 2024, PNC Real Estate/Midland Loan Services was ranked second by the MBA for master and primary servicing with $646 billion.
Related Articles
Don't Be Fooled by the Price Tag: Understanding Net Proceeds in a Home Sale (Article)
Understanding Mortgage Payoff: How to Request It and Why It Matters (Article)
Don't Lose Money Price: A Home Seller's Guide (Article)
*Bonus Tip: Ordering Your Mortgage Payoff Quote with Ease
Here's how an escrow or title company can help you obtain your mortgage payoff quote:
Find a Reputable Escrow or Title Company: Many FSBO sellers choose to work with an escrow or title company. My Home My Sale can connect you with a network of trusted professionals in your area. Ask Us >
Contact Your Chosen Company: Reach out and explain you're an FSBO seller interested in a mortgage payoff quote.
Provide Loan Information: The company will likely ask for some basic information about your current mortgage.
Processing and Delivery: The company will contact your lender to request the quote, typically receiving it within a few business days.
The FSBO Advantage:
By tackling these steps first, you'll gain a clear understanding of your financial picture and enter the selling process with confidence. This knowledge empowers you to:
Negotiate Like a Pro: Armed with your net profit goal, you can negotiate offers with a clear understanding of your bottom line.
Avoid Surprises: Knowing closing costs in advance prevents unexpected expenses at the closing table.
Enjoy a Smoother Sale: A clean title minimizes delays and complications, ensuring a stress-free closing experience.
So, don't jump into listing just yet! With My Home My Sale FSBO Package , you can flip the switch from selling stress to FSBO success.
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