There is nothing SHORT about a Short-Sale.

The verbiage alone makes it sound simple and easy. I assure you that they are labor intensive transactions. Many people ask, when searching for a home and come across the listing that say’s “Short-Sale” what exactly it is. In the simplest terms in just means the sellers are going to sell the home for less than they owe to the lender. This sounds like a great buy for the presumed buyers of these homes, but here some things you should know about them from my personal experience as well as questions that should be answered before you dive into purchasing a short-sale home.

Has the short-sale been approved?

In our area of Ascension Parish we don’t see too many short-sales any longer since the housing bubble fizzled a bit in 2008-2009. Many agents who are not experienced with a short sale get a surprising education pretty quickly. If your sellers have to “short-sale” their home the sellers agent must fill out the proper paperwork with the sellers approval to speak with the lender about short selling the home. Comparable homes in the area must show the home is worth less than what is owed and the lender must “approve” the asking price for the home in its current condition. This can take weeks, even months.

If you find a “short-sale” make sure to ask if the home was “approved” for the asking price on the MLS.

You got an accepted offer from the sellers? Not a time to relax, not just yet….

Even though you have negotiated a price with the sellers, it still needs to be accepted by the lender. The seller’s agent has to put together a settlement statement to the lender that is then “approved” or “declined” by the bank. (I have even seen a lender turn down a full asking price short-sale). This approval can take weeks even months to come through. The agents working on this call, fax, email, and use sites to upload documents to make the sale go through.

Got acceptance from the sellers and lender, what now?

This is the time you want to do your inspections, and I STRONGLY suggest you hire a professional inspector. You are going to want to keep a running total of cost of repairs. In many cases the sellers are not in the position to make costly repairs or even minor ones so this is on you, the buyer. You really need to weigh out how much these things will cost you to do. Is the amount more than the reduction you got on the home? Then you may want to find another home.

Hurry up and wait!

You have sent everything 4 times to your agent that’s been required. The sellers have too but 10 times. What could possibly be taking so long? Nobody really knows why these take so long to get approved.  The theory is that only one person at each lending institute is doing these short-sale approvals, and they get a 3 hour lunch and several paid days off. (sarcasm). Kidding aside, this can take several months to get the rubber stamp that its cleared to close.

The patient will prevail.

The process can be long and exhausting but you can really get a great home for way less than the comparable’s in the neighborhood. If you have patience you can win out. It’s important you have an agent that is informed of the process and can explain the up and downs as they come along during purchasing a short-sale. There are many other things that can happen during the waiting period for approvals. I just touched on a few of the big ones. I’d love to be the one to help you with your short-sale purchase, Why?

“Because YOU Matter”

Your Real Estate Whisperer

What should you do with your pet during showing's in Ascension Parish

                  bulldog-601714_1920

What should I do with my pets when I’m have a showing?

Let me start off by saying “I LOVE animals”. It doesn’t matter to me, from reptile to bird, dog or cat – all of them I think of as a friend. Some of these animals don’t look at me in the same way. Over the years I have encountered some not so friendly animals. Most recently I tried to enter a home and was greeted by a mid-size mixed breed hound that was showing his teeth as the key slipped into the tumbler. The buyers and I agreed that we wouldn’t be taking a tour of that home that day. Too bad the sellers missed out on an opportunity to sell their home. So that brings me to my point of this blog post. What do you do with your beloved pets when you have a showing?

Pet Sitter? Is that even a thing?

Yes, It is. Many veterinarian offices board your animals for the day, and some dog grooming places as well. You can also ask around. You’d be surprised about how many people know of someone who does this. The best reference to get is from someone who’s used them before.

To crate or not to crate?

If you have an old cat or dog that lazily walks around the house and really doesn’t bother you, you may think it’s ridiculous to put them in a crate; but some people are truly frightened by animals and may just walk out of the home as soon as they see your precious fur baby. My best advice is if you can’t shell out the money to board your animal is to crate them during a showing. Most people put the crate in a laundry room or utility room so it doesn’t distract from the showing.

***Keep in mind that if your animals are aggressive and can pose a danger to anyone, you can be liable if your animal attacks someone during the showing. It’s up to you, the seller, to handle your animals prior to confirmed showings.***

Do you got a neighbor or friend?

Many of your friends love your animals as much as you do. You can always ask a friend to pick up your pets for the times of the showings. You can always ask your agent for a window of time before the showing so either you or your friend can take care of the animals prior to the showing.

On a side note- The nose knows everything.

You may not think your home has a pet odor but people who do not like animals or do not have them can smell them immediately. Please clean your cat’s litter box daily. The same goes for birdcage liners and the doggy droppings in the yard. Nobody, even animal lovers, likes having your pet poop on their foot after taking in your large backyard. Get your carpets cleaned. If there are stains that can’t be removed you may want to consider a flooring allowance or replace the carpets (If you choose to replace make sure you KILZ and seal the slab as these odors will come back through if not treated properly).

One last thing

Before you list your home you may want to check all of your doors or windows to see if your fur babies have chewed or scratched any wood or painted areas. Nothing screams deferred maintenance like a backdoor that has been ruined by an animal – that includes the weather stripping as well. (I don’t know why animals love chewing and scratching at it).

Hopefully these tips will help you out on deciding what to do with your animals.

“Because YOU matter”

#yourrealestatewhisperer

What LSU Football means to us in 2016.

 

new-lsu-picIt’s that time a year again – LSU football season! Even with the historic flooding that spread all over Livingston, East Baton Rouge, Ascension and many other Parishes, people are still hyped for FOOTBALL! They are putting up their mold respirators and mucking materials in lieu of the tell-tale LSU purple and gold. Last night, I was scrolling through Facebook, and my feed was no longer filled with pictures of homes torn down to studs and piles of belongings parked in the front lawn. Nope. It was pictures of Les Miles eating grass and tailgate parties of past years – purple and gold everywhere. It was so nice to see all this again. A sense of our community coming back together after we have lost so much. I guess, it’s the perfect time for our minds to be distracted for a few hours to see those fighting tigers take the field. We need this distraction to keep us moving and energize us in a way that only the people of South Louisiana can understand. The expression has been said many times, “We bleed purple and gold”. With this kind of theme running though our minds, of course the people of south Louisiana would be excited. One quote I pulled from Facebook last night really made me want to write this post. It came from my friend Desire’ Mann. It reads “The television is louder, the wardrobe is carefully coordinated, and everything is planned around THE SCHEDULE!! Geaux Tigers”! She nailed it in one sentence. No matter what this community goes through – hurricane, tornado, or even a historic flood – we love our Tiger’s, and nothing is going to stop us from watching and supporting them.

Of course we have a long way to go before we are back to the way were before the Great Flood of 2016. The Tigers hitting the field just makes us remember that we didn’t lose it all. We still have family, friends, what’s left of our flood soaked homes and of course our LSU Fighting Tiger Spirit… just one more way our house can feel like home again. GEEEEEEEAAAAAAAUUUUX TIGERS!! LSU!!!

“because YOU matter”

#Yourrealestatewhisperer