Ready to purchase a short sale?

A short sale is when the homeowner's lender consents to receive a reduced payment to release a mortgage. For more information, simply contact me through my site or e-mail me. I'm glad to address any questions you have regarding 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.

Are short sales good deals?

Sometimes. Many people hear the phrase "short sale" and automatically think of a seller that is in default and needs to sell their house quickly to avoid further financial problems. This is sometimes 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 instances the "bargain" price may in fact be in line with actual market values rather than below.

How do I buy a short sale?

  • Before making any purchase offers, do your research. Using a qualified REALTOR® from Weichert, Realtors - Villar and Company to support your research of a property can help you make informed decisions. We can help find out to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this info can help you make a decision about how much to offer.
  • Hire a real estate agent with short sale expertise. Weichert, Realtors - Villar and Company can help expedite the transaction and make certain you're protected. Don't permit inexperience to delay the closing process. Put my knowledge and experience to work for you.

  • 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. Be informed that a majority of short sales will not close in 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. Commonly, your offer will be sent to a committee for approval, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are generally not up for negotiation when buying a short sale. The lender will be selling the property as seen which means the lender isn't going to pay for repairs. Be sure to 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 foremost and will always suggest that you make your offer contingent upon the results of the inspections.
If you are ready to buy, whether it is a short sale or a typical home sale, Weichert, Realtors - Villar and Company can help. Utilize my experience and knowledge of real estate to feel confident you are getting a fair deal and remain protected during the whole transaction.