Your Prairieville real estate expert

Ready to buy a short sale?

When a homeowner owes more on their house than its value, they can sometimes get the lender to agree to a short sale, whereby the lender consents to release the mortgage for an amount less than what's due. 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 Villar and Company Real Estate for expert advice.

Can I get a bargain on a short sale?

The short answer is "sometimes". Many people hear the term "short sale" and routinely think of a seller that is in trouble and needs to sell their home promptly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have depreciated. In these cases the discounted price may in fact be closer to current market values instead of below.

How do I buy a short sale?

Always do your homework before making any offers. Using a qualified real estate agent from Villar and Company Real Estate to help you research a property can help you make informed decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Locating this data can help you make a decision about how much to offer.
Get a REALTOR^® with short sale experience. Villar and Company Real Estate can assist you in expediting the transaction and make sure you're protected. Don't allow inexperience to delay the closing process. Let my experience and knowledge work in your favor.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually take longer than a typical real estate transaction. Be aware 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 terms of the sale. A lot of the time your offer will be presented to a committee to approve, which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when buying a short sale. The lender will be selling the property "as is" which means the lender won't be paying for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Villar and Company Real Estate, when I write an offer, I am looking out for your interests above all else and will always suggest that you make your offer contingent upon the results of the inspections.

When you are ready to buy, whether it is a short sale or a typical home sale, Villar and Company Real Estate is available for you. Use my experience and knowledge of real estate to make sure you're getting a fair deal and will be protected during the full deal.