The effect of recent changes in Las Vegas residential purchase agreement (RPA) on financing buyers
In this video, we will discuss how recent changes in the Las Vegas Residential Purchase Agreement (RPA) could become problematic for buyers who need to finance a mortgage loan.
Now Las Vegas home, condo or high-rise condo buyers have to set a deadline for providing appraisal and removing the loan contingency in the new Las Vegas Residential Purchase Agreement (RPA). Failure to do so will result in the loss of Ernest Money Deposit (EMD)
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What we do is turn challenges into opportunity and have an elegant solution for this quandary. It is becoming as close to under-written pre-approved as possible. We have informed the mortgage loan officers that we recommend that this is what we want and many are willing to do so.
In the next video blog, Mortgage Guide for Las Vegas condos, homes and high-rise buyers we discuss becoming under-written approved and much more.
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