Ready to purchase a short sale?


	When a lender and a seller agree to release a mortgage for an amount less than what's owed on a house, it's called a short sale. For more information, just contact me through my site or e-mail me. I'm happy to address questions you have regarding real estate short sales.

Purchasing a short sale in Prairieville, Louisiana on your own is risky. Contact Villar & Co. Real Estate for expert advice.

Can I get a good deal on a short sale?

The short answer is "sometimes". Most people hear the phrase "short sale" and automatically think of a seller that is in trouble and must sell their house quickly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to take advantage of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these instances the reduced price may in fact be in line with current market values, not below.

Are you ready to buy a short sale property?

Before making any purchase offers, do your homework. Using a knowledgeable real estate professional from Villar & Co. Real Estate to support your research of a property will help you make knowledgeable decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this info can help you decide how much to offer.
Get a real estate professional with short sale knowledge. The real estate agents at Villar & Co. Real Estate can assist you in expediting the transaction and ensure that you're protected. Don't let inexperience impede the closing process. Put our experience and knowledge to work in your favor.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Know that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. It's not uncommon that your offer will be seen by a committee to approve which will add time - sometimes even 2 to 3 months.
Home warranties, buyer credits and allowances, and closing cost concessions are generally non-negotiable when dealing with a short sale. The lender will sell the property "as is" which means the lender won't be paying for repairs. Be sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Villar & Co. Real Estate, when we write an offer, we're looking out for your interests first and will always recommend that you make your offer contingent upon the inspection results.

If you're ready to buy, whether it be a short sale or a typical home sale, Villar & Co. Real Estate can help you. Utilize our experience and knowledge of real estate to be confident you're getting a fair deal and protect yourself during the entire transaction.