Looking to make a deal on a short sale?

A short sale means the seller's lender consents to collect a reduced amount to release a mortgage.

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 bargain on a short sale?

Every now and then a good deal will come along. Often times people hear the term "short sale" and routinely think of a seller that is in trouble and must sell their property promptly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to take advantage of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these cases the reduced price may in fact be closer to current market values instead of below.

Are you ready to buy a short sale property?

  • Before you make any purchase offers, do your homework. Using an experienced REALTOR® from Weichert, Realtors - Villar and Company to assist you with researching a property can help you make knowledgeable decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Finding this info can help you determine how much to offer.
  • Hire an agent with short sale expertise. Weichert, Realtors - Villar and Company can assist you in expediting the transaction and make certain you're protected. Don't allow inexperience to hinder 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. Know that a majority of short sales will not close in less than 30 days. Remember that you're not only having to satisfy 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 warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when working with a short sale. The lender will sell the property "as is" 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 foremost and will always recommend that you make your offer contingent upon the inspection results.
If you are ready to buy, whether it be a short sale or a typical home sale, Weichert, Realtors - Villar and Company can help. Apply my experience and knowledge of real estate to make sure that you are getting a fair deal and will be protected during the entire deal.