Home > Uncategorized > ~ What a Short Sale IS and ISN’T by Las Vegas Short Sale Specialist in Nevada ~

~ What a Short Sale IS and ISN’T by Las Vegas Short Sale Specialist in Nevada ~

LAS VEGAS SHORT SALE SPECIALIST – 702.482.7739 – http://www.TheBallenGroup.com When Ready to sell your Las Vegas Home – if you owe more than the mortgage, we can help. Call us to discuss short sale options. Las Vegas Real Estate Agents with Keller Williams Realty Las Vegas.

What is a Las Vegas Short Sale? And what it ISN’T

Wow – It still amazes me when I talk to a potential Las Vegas Real Estate Buyer in regards to what a Nevada short sale is and ISN’T. I was speaking with a very nice man yesterday from Denver Colorado. He had no idea what a Short Sale was and what it meant for him – the home buyer. His biggest concern is that he would have to absorb the mortgage debt from the original seller placing him with multiple mortgages on the Las Vegas Real Estate purchase! ~ It’s funny how we get so wrapped up in what WE do every day that we forget about the people who don’t deal with it every day.

So I thought I would break it down a bit for those still wondering. And for an information video on what a short sale is – CHOOSE ME

What a short sale……

IS –

  • The seller owes MORE on their mortgage(s) than what the home is worth. The seller places their home on the market and ASKS the bank to take a “short” amount on the mortgage.
  • Time Consuming – A Short Sale usually takes a minimum of 90 days (YES – THAT’S 3 MONTHS) and often takes longer (at times – much longer).

 

ISN’T –

  • A “Better Deal” than other homes on the market. Bottom line – the bank wants FAIR MARKET VALUE. In Nevada, Las Vegas short Sales close for MORE than Las Vegas foreclosures on average.
  • A Speedy Process. The “short” in the word SHORT SALE does not refer to time of the transaction (If it did – it would be called a LOOOOOOOONG SALE!)
I could and probably will eventually add to what a short sale is and isn’t but don’t want this blog post to run too long. Now I am certainly NOT saying don’t consider a Las Vegas Short Sale purchase. Considering the fact that my team (A top Las Vegas Short Sale Agent Team at Keller Williams Realty Las Vegas *plug*) requires buyers to close our short sale listings, we know we need those offers! That being said, if you are considering purchasing a short sale – make sure you are dealing with Las Vegas Short Sale Specialists that are actually CLOSING these short sales in Nevada, not just listing them.

The Ballen Group – Las Vegas Real Estate Specialists
Keller Williams Realty Las Vegas
3100 S. Durango #106 Las Vegas, NV 89117 (702) 604-7739Email Web Blog Featured

Las Vegas Short Sales, Nevada Short Sales, Short Sale Nevada, Las Vegas Real Estate, Nevada Real Estate Agents
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