Looking to buy a short sale?

A short sale is when the homeowner's lender has agreed to get a reduced payment to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm happy to answer any questions you have about real estate short sales.

Purchasing a short sale in Prairieville, Louisiana on your own is risky. Contact Weichert, Realtors - Villar and Company for expert advice.

Can I get a good deal on a short sale?

Every now and then a good deal will come along. Most people hear the term "short sale" and routinely think of a seller that is in trouble and needing to sell their home promptly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these cases the "bargain" price may in fact be consistent with actual market values instead of below.

What's involved in buying a short sale?

  • Prior to making any purchase offers, do your homework. Using a qualified REALTOR® from Weichert, Realtors - Villar and Company to assist you with researching a property will help you make informed 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 information can help you make a decision about how much to offer.
  • Use an agent with short sale knowledge. Weichert, Realtors - Villar and Company can help expedite the transaction and make certain you're protected. Don't permit inexperience to slow down the closing process. Put my knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Know that most 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 discounted price. A lot of the time your offer will go before a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are normally not negotiable when buying a short sale. The lender will be selling the property as seen which means the lender won't be paying for repairs. Make sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Weichert, Realtors - Villar and Company, when I write an offer, I am looking out for your interests first and will always advise you to make your offer contingent upon the results of the inspections.
When it's time to buy, whether it be a short sale or a typical home sale, Weichert, Realtors - Villar and Company can help. Utilize my experience and knowledge of real estate to be confident that you're getting a fair deal and remain protected during the whole process.