Many of the Investment Property for Sale homes for sale today fall under the category of Buying Las Vegas Distressed Properties. These are Las Vegas homes that have either gone through foreclosure or are being marketed as “short sales.”
In a Vegas short sale, the homeowner can’t afford to maintain the mortgage, but the lender – rather than foreclosing – agrees to the sale of the property for less than the balance of the loan. Buying Las Vegas Distressed Properties – Investment Property for Sale.
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These types of sales have different dynamics than traditional sales – with more paperwork, often a longer transaction process and, in some cases, more frustration of Buying Las Vegas Distressed Properties. For these reasons, many Investor Real Estate buyers shy away from foreclosures or short sales.
However, if you understand the potential pitfalls of purchasing a Buying Las Vegas Distressed Properties – and work with an Investor Real Estate agent who has a thorough knowledge of this market – you can get a great Las Vegas home at a great price.
Ratliff Realty Group RE/MAX have been specially trained in working with foreclosures or short sales through the Certified Distressed Property Expert class. Ratliff Realty Group can guide you through the process and help you locate and purchase just the right Vegas home for you.
Buying Las Vegas Distressed Properties
This is an outstanding time to buy a home – distressed property or not. With historically low interest rates, and a glut of Las Vegas homes on the market There are Buying Las Vegas Distressed Properties bargains to be found. Advantages of buying distressed Investment Property for Sale homes. First, you’ll be dealing with a highly motivated seller – either a bank in the case of a foreclosure, or in a Buying Las Vegas Distressed Properties, sellers who are in financial trouble and very interested in getting out of a mortgage they can no longer afford.
These types of sales take much of the emotion out of the process. You won’t be insulting anybody, for instance, if you make an offer that’s lower than the asking price. (That’s not to say that the low offer will necessarily be accepted, of course.)
Here are pros and cons of buying Investor Real Estate
Las Vegas lenders are extremely interested in getting these homes sold and off the liability side of their balance sheets. Many Vegas Investment Property can be purchased for only a percentage of what they would have commanded five years ago.
This situation is beginning to change, though; bidding wars are breaking out on some foreclosed properties these days, especially those that are moderately priced. Ratliff Realty Group RE/MAX Group will know what’s going on in this area and will be able to help you arrive at a reasonable strategy for making an offer on Buying Las Vegas Distressed Properties.
If you’re looking at a Property Investors Vegas short sale, you’re not likely to get quite as good a deal as on a foreclosure. But there are definite advantages to purchasing one of these Investment Property for Sale homes.
For one thing, since the Las Vegas homeowners want to get the home sold quickly, they are likely to keep it well-maintained and in good move-in condition Investment Property.
Disadvantages of Buying Las Vegas Distressed Properties
If you’re looking for a Investor Real Estate “steal,” you’re probably not going to find it. The Vegas market is heating up, with more and more buyers jumping into the market. If you’re Buying Las Vegas Distressed Properties to live in, you’ll often be competing not only against buyers similar to yourself, but against investors. More competition inevitably leads to higher prices.
The transaction process for short sales or foreclosures often takes longer than for traditional transactions. It’s sometimes not clear which lending institution actually owns a mortgage loan, and it can take time to get it all sorted out – especially if there’s a second mortgage involved, which is often the case in Buying Las Vegas Distressed Properties.
Some Vegas foreclosed properties are also in rough condition. Many have sat idle for a long time with minimal or no maintenance. The departing owners may have sold off fixtures, or damaged the property.
Interested in searching for foreclosures in Las Vegas?
Buying Las Vegas Distressed Properties
$172,990 : 3462 MONTEGO Drive, Las Vegas5 beds, 3 baths
$74,000 : 6007 CASTLEMONT Avenue, Las Vegas3 beds, 2 baths
$550,000 : 2633 BAD ROCK Circle, Henderson4 beds, 4 baths
$369,900 : 9712 STELLAR VIEW Avenue, Las Vegas3 beds, 3 baths
$245,000 : 221 STAGECOACH FLATS Avenue, North Las Vegas5 beds, 3 baths
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(all data current as of 8/17/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Investment Property for Sale