Selling Las Vegas Foreclosure Overview
Our Foreclosure Bus Tours have been featured on: CNN, USA Today, NY Times, The Learning Channel (TLC), CBS Morning Show, local Fox, NBC and CBS Affiliates here in Las Vegas.The majority of our Agents are Certified Distressed Property Experts, meaning they have been trained to handle Foreclosure sales.
RE/MAX CENTRAL of Las Vegas, Specializing in Las Vegas Foreclosure, Las Vegas Foreclosures, Buy Las Vegas Foreclosure. Call Toll Free 877-360-2030 Or, go to our website at LasVegasRelocation.com
Selling Las Vegas Foreclosure
Be Flexibie When & Where You Can
It can be challenging for both Buyers and Sellers when they are dealing with a specialized transaction like a Las Vegas Foreclosure or Short Sale Home - here are some practical tips on how to win in this turbulent market that we believe is close to or has bottomed out.Get Educated about Las Vegas Foreclosures
Get Educated if you want to survive in this ecosystem - the Buyers and Sellers need to be educated about the foreclosure and short sale transaction, as it is different than the traditional offer and acceptance process and it can be much longer and more convoluted.
Work with a Foreclosure Trained Realtor/Broker
Hire an Agent who knows their way around a Foreclosure or Short Sale as it can be a complex process - interview several agents to find an agent that has the experience to market and negotiate e a foreclosure or short sale - their front end training and familiarity with these specialized transactions is very important.
Get an Agent with a Black Belt in online and offline Marketing - your agent should know how to leverage online marketing (including SEO, social media and PPC) processes for maximum exposure; over 70% of buyers start their search on the internet. Experience - critical market exposure become the 800 pound gorilla in today's real estate market.
Establish Relationship with Banker Early On
Get Close and Personal with your Banker - in a Foreclosure Transaction the seller-homeowner is also forced to factor in the Bank's needs and interests in terms of what financial return the bank wants to generate during a Foreclosure or Short Sale.
Timeline for Selling & Making Your Home Standout in the Market
To everything there is a Time and a Season - your maximum exposure in the market is during the first 45 days, so the homeowner-seller should recognize this and price the home accordingly.
The Seller needs to have Proverbial Skin in the Game - the homeowner-seller should be willing to contribute to closing costs. FHA requires at least 6% down. The buyers are expecting the sellers to contribute at least 3%. Many Banks are willing to contribute to the buyers closing costs on the foreclosed homes so the homeowner seller must be competitive. The homeowner's agent should advertise the Seller's willingness to contribute - flexibility is critical.
The Seller's Competitive Edge
What gives you the Homeowner a Competitive Edge in today's Market? Your Edge as the homeowner-seller is your out of the box thinking and flexibility in terms of working with your realtor to structure a deal and or responsiveness to the buyer (Yoga anyone?) Listen to your Buyer and Buyer's Realtor closely and look for common ground that will enable you to get your deal closed and don't lock in to a specific condition - keep the other party's interest.
Seize the Day by using full Disclosure to your Advantage - most banks do not know the condition of their homes, or if they do have any information, it may be limited at best. So, be prepared to provide the buyer with all the insight you can give them about your home.Speed and Responsiveness are your new Best Friends - another edge that the homeowner has is the ability to respond quickly to the buyer's offer so the buyer knows right away if they have a deal - banks typically take weeks to respond.
The Homeowner Seller should be aware that today's buyers are making offers on several homes at the same time - The Buyer's agent should provide a multiple offer addendum which discloses to the seller that the buyer is making an offer on more than one home. This gives the buyer an edge because is causes the Seller to respond quickly and seriously. The Seller's agent and Seller should discuss their strategy ahead of time so they are prepared to respond quickly and seriously without multiple counter offers

John and Ruth Ahlbrand, Co-Founders of RE/MAX CENTRAL of Las Vegas
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Office: 702-940-9600
Fax: 702-940-9601
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How to Sell Las Vegas Foreclosure
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