The difference between approved, un-approved Las Vegas short sales, auction short sales and Las Vegas foreclosures
Las Vegas short sales are the most misunderstood type of real estate deals and many Las Vegas homes, condos or high-rise condominium buyers or their Realtors do not really have a good understanding of the process, let alone were to look for the highest discounts or how to avoid the short sale trap.
Additionally there has been much talk about pre-approved short sales or how the process has become streamlined which is absolutely not true. So we have decided to do a series of blog and videos about the subject. In this first video we discuss the three different ways to buy Las Vegas, Henderson and North Las Vegas short sale homes, condos and high rise condos that are listed in Greater Las Vegas MLS, and the difference with buying Las Vegas foreclosures.
The main difference between Las Vegas short sales and foreclosure listings in the Las Vegas MLS is that in the case of the foreclosure, the lender has the title in hand. Other differences depend on the type of short sale which we will explain in this series. However the average escrow time which is the time from the acceptance of an offer by the seller to close of the deal are much longer than foreclosures.
In the next blog and video we will discuss the average wait time to get approval from the lender for each type of short sale listing.
We hope that you find the information in Las Vegas short sale homes, condos buyer’s guide useful, in the next video we will discuss how long is the escrow time for Las Vegas short sale homes, condos?
This is Masoud Saberzadeh, Las Vegas Realtor and real estate agent at Realty One Group and Las Vegas homes, condos, land & luxury high rise condos
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