Having sold more than 500 REO assets in the past 2 years, I have found that most REO assets generate multiple offers. In many cases, buyers get into a "bidding war" and often pay more than they had anticipated. Other legal and title issues sometimes delay a closing. One important issue is that, if you are purchasing with a mortgage, we find that appraisals often reflect a lower price than what you agreed to pay. That means either re-negotiating the contract (which is difficult with a bank owned property) or cancelling the transaction and beginning your search again.
A short sale has its own special issues. Once the seller has accepted your offer, the seller's lender must approve the terms. Short sale approvals often take longer for approval than a bank owned property or "traditional equity sale" with a seller. If you engage the services of an experienced Buyer's Broker, most of these issues can be managed efficiently.
 Terri White is a Certified Distressed Property Expert, and has been representing Buyers in their purchases of both REO properties and Short Sales for several years. Her team is eager to help you with your Las Vegas home search, and can explain in detail how each process works.
For more detailed information about Las Vegas Short Sales, visit our website at www.shortsaleconsultantsofnevada.com. I am happy to offer a FREE CONSULTATION with no obligation, to explore your options as a homeowner today.
Call today at 702-379-6627 or email terrilvp@cox.net.
We will identify, research and counsel you as to which properties offer the "best deal" for you. Whether it is a Las Vegas REO, Las Vegas Short Sale, Las Vegas New Home or Las Vegas traditional purchase, we will help you every step of the way!
TRUST BEGINS WITH HONESTY
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