If you are buying a Lake Charles foreclosure or short sale you are going to have to have a lot of patience and put a great deal of trust in the hands of your Lake Charles real estate agent to negotiate your Lake Charles Short Sale purchase.
As an experienced Lake Charles REALTOR and real estate negotiator, I am used to looking at comparative Lake Charles market data and recent Lake Charles homes sold in order to inform my buyer of current market value. Buyer’s trust and rely on me as their experienced agent of choice to guide them with my knowledge and advice when writing a purchase contract. Because short sales can be a lengthy process sometimes revisions are necessary to the original purchase contract.
It is helpful for the Buyer purchasing a Lake Charles short sale property to know exactly what a short sale is. A short sale is a property where the sellers owe more than the property is worth and rather than walking away they are attempting to sell it. You the Lake Charles buyer will be negotiating with the Lake Charles seller. Once the seller accepts your offer is when the fun begins. The bank will have to agree to take less than the full amount due on the mortgage.
Understand that a Lake Charles short sale property is most probably not going to be a bargain, because the seller still has to convince the bank to take a loss on the property rather than be stuck with yet another foreclosure. This is where you hope that the Lake Charles listing agent knows what they are doing. A good Lake Charles short sale agent can make the sale go far smoother than an agent who does not know how to navigate the short sale process. Sometimes you might not hear anything for weeks at a time just because the agent does not know anything
Sometimes Sellers Change their Mind in the short sale process. Sellers often opt for loan modification, bankruptcy or foreclosure after the short sale has been negotiated with the bank and the approval letter has been obtained. Lake Charles Sellers may also lose their patience because the sales process is lengthy. To move a Lake Charles short sale approval through can take many months, so patience and diligence is required.