Foreclosure Bus Tours in Vegas

Getting the Most out of Las Vegas Foreclosure Bus Tours

All Las Vegas Foreclosure Bus Tours are not created equal, as some realtors around Las Vegas and the rest of the country don't put a lot of effort into the process, other than just putting a group of people on a bus and driving them around a city and showing them Foreclosures. We do a great deal more background work before the tour ever starts.

What to Look for During Foreclosure Bus Tour

If you are contemplating taking a Foreclosure Bus Tour to learn about Foreclosures with us or any other realtor you should be aware of what type of preparation has gone into the process from the realtor's perspective, as this in many cases will determine how effective the process is. You want to work with a realtor who has done good preparation on the front end.



Preparation by Your Realtor is Critical

We do a great deal of preparation work on the front end including using our own in-house dedicated team of Foreclosure and "REO" (Real Estate Owned) Realtors to research and pre-screen Las Vegas Foreclosure home inventory so each tour is effective for attendees.

We typically spend 5-15 minutes in each home that is on the Foreclosure Bus Tour and usually visit 10-15 homes during a three hour tour, on average - some realtors charge investors for attending a tour, we don't charge any fees whatsoever.

We have a dedicated Foreclosure Bus Tour Team Leader on our luxury coach bus who gives a presentation to our potential clients as we drive to and through multiple communities. Our Team Leaders tries to give as much background as possible on the neighborhoods we are visiting and individual homes and he/she also answers questions from people on the Foreclosure Bus Tour.

Financial Information Part of Foreclosure Bus Tour

Many people have questions about financing during the Foreclosure Bus and may want on the spot financing; so we have a representative from EVOFI Corporation, our Preferred Partner for Mortgage Loans, who attends each Foreclosure Bus Tour to address any questions from tour attendees and/or work with them to start a loan process on the spot.

At the conclusion of each Foreclosure Bus Tour we bring all attendees back to our Corporate Training Center where we serve a light lunch and give a short presentation and address any questions that tour participants may have.

Education is an integral part of each Forclosure Bus Tour we believe it is important for people to not only see potential homes they want to purchase but to have a good understanding of market conditions and the overall big picture that may impact their purchase decision.

If you are a real estate investor or homebuyer who wants to purchase a Las Vegas Foreclosure now is a great time to get a tremendous bargain on a Las Vegas Foreclosure! A large percentage of our Las Vegas Homes are now priced so low that builders could not buy raw land and then build a home for the selling price of many homes.

If you are an investor, we have about a 95% occupancy rate for most rentals throughout the Las Vegas area - in part driven by the large number of consumers who may have been forced into a foreclosure and now are forced to rent.

Finding, Negotiating & Purchasing a Las Vegas Foreclosure Quick Summary

1) Identify the Property or Home and Neighborhood - Inspect the House Yourself or use a Professional (we recommend the latter).

2) Do Title Research Using a Preferred Provider via Your Realtor

3) Make An Offer After Looking at Comparables with Your Realtor

4) Negotiate a Purchase Price

5) Arrange Financing (this is listed last but better to arrange on front end)

Detailed Overview of the Process

1. Identify Property or Home - we can work with you to identify the right property or home or you can Search our MLS Listings, which feature a section of all listed Las Vegas Foreclosures. You need to carefully think about the ramifications of the location - this may sound simplistic, but you want to factor in: freeway access, shopping centers, location of schools, medical facilities, recreational amenities that are important, etc. as part of the selection process.

2. Get Title Research - once the right Las Vegas Property or Home has been located we will do a thorough Title Search on the property that you have identified and/or bring in our Preferred Vendor. You/we want to be sure there are no liens on the property that have not been cleared prior to the completed Las Vegas real estate transaction.

3. Making the Offer - most banks today have a lot of Las Vegas Foreclosure inventory they want to sell, but the final price is impacted by the number of offers, the amount of inventory the bank has, location and condition of the property and other intangibles. Experience has taught us, even if the listing agent at the bank has indicated the list price is firm, there still may be room to negotiate on behalf of our clients. Don't be afraid to let us negotiate on your behalf - our economy is chaotic to say the least and it "never hurts to ask!"

4. Negotiate - be prepared to negotiate a lower down payment, reduced interest rate, lower asking price and/or even a reduction in closing costs. Many vendors may be willing to waive some of the closing costs or offer a reduction on the down payment or interest rate. Remember, they have a tremendous amount of homes sitting empty and are motivated to sell.

5. Financing - it is critical to make sure your financing is in place prior to making an offer; or, you have no chance of buying a Las Vegas Foreclosure. If you have good credit many banks will loan the full price of the Las Vegas Foreclosure, although this can vary by individual bank. Some banks may only require a 10% down payment and if you are a Foreclosure Investor with a large amount of equity in another home you may be able to arrange a substantial line of credit.

Please Visit Our Web Site for More Information

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