Mantas Raulickis and LV-REO TEAM, Las Vegas Short SalesREALTY ONE GROUP, INC. - Las Vegas Short Sales2831 St. Rose Parkway #100Henderson, NV89052Phone: 702-588-6868Cell: 702-336-6610Fax: 888-838-4276
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Your Las Vegas Short Sales, Las Vegas REO's Experts!
LV-REO TEAM is specializing in Las Vegas Short Sales, Las Vegas REO's, Pre-Foreclosures, Foreclosures and Bank Owned Properties
Financing Las Vegas Short Sales: Las Vegas REALTORS can help to understand how much home your financial situation will allow afford, advise different loan options and send you to the best-qualified lender in Las Vegas area.
Selection Las Vegas Short Sales: Las Vegas REALTORS have the resources and tools to research all available properties(REO, Short Sales, Resales, New Homes) and provide great information about each home regarding the community, parks, schools and other important issues.
Negotiation Las Vegas Short Sales: Las Vegas REALTORS can advise you on MAJOR factors such as listing price, loan financing, conditions and terms, date of possession of the property, needed repairs and possible furnishings.
Inspection Las Vegas Short Sales: Las Vegas REALTORS can negotiate with sellers to provide you (Buyer)enough time in the purchase agreement for all needed inspections and requested investigations, plus give an advise which ones are required or just recommended.
Closing Las Vegas Short Sales: Every area is United States has its own unique closing customs. A local Las Vegas REALTOR can guide you step-by-step through the entire process.
Pricing Las Vegas Short Sales: When looking to sell your property, Las Vegas REALTORS will give you up-to-date market information to sell your property quickly, at the highest price possible and with minimum worries.
Marketing Las Vegas Short Sales: A Las Vegas REALTOR will recommend possible repairs to ensure the stability of your Las Vegas property and advertise it to other agents via Realtor.com , MLS, Google, Yahoo.
When it's time to buy or sell your house is Great Las Vegas Area, it's time to turn to a Las Vegas Short Sales professional. Someone with the GREAT expertise to get the job done right the first time.
A Las Vegas Short Sale is a real estate transaction in which the net sales proceeds does not fully pay off the existing loan or loans.It often occurs when the lender decides that selling the Real Estate at a moderate loss is better than pressing the borrower who can not pay the mortgage loan. The Las Vegas Short Sale lender will take the amount in which the home is sold for and basically cut its losses then and there.
The foreclosure process in Las Vegas could be very expensive to the lenders. It involves hefty fees and It is time consuming process. In most cases the bank agrees to a Las Vegas Short Sale and releases the borrower from the obligation to pay the remaining balance of the loan.
Why The Lender May Agree To a Short Sale In Las Vegas?
Not all lenders are willing to approve Las Vegas Short Sale and every lender will have its own requirements for approving one. But there are a few different reasons why the lender may choose to accept a Short Sale offer. Las Vegas Short Sale.
A Las Vegas Short Sale will usually result in a considerable smaller loss for lender than a foreclosure would because of the holding time during which the property will likely sit vacant. Money that a Short Sale lender has tied up in a house they cannot sell is money that they do not have to lend.
Most Short Sale lenders would rather avoid a long and expensive foreclosure process by agreeing to a Short Sale.The costs associated with foreclosure process grows every day attorneys fees, HOA fees, management fees, maintenance,property taxes and many other fees. Lenders would rather cut their losses and move forward. Las Vegas Short Sales.
Compared to a foreclosure a Las Vegas Short Sale is a faster and cheaper way to get rid of delinquent properties.
Does Borrower Benefit from The Short Sale In Las Vegas?
Yes, the Short Sale in Las Vegas benefits the borrower as well.
Las Vegas Short Sale is less damaging to Credit rating: Each time your mortgage payment is missed your credit score can drop 30 points. Starting the Las Vegas Short Sale process will help to shorten the amount of payments missed and help you recover from your score quicker.
Las Vegas Short Sale allows quicker recovering to loan worthiness:A Foreclosure in Las Vegas severely damages your credit score for up to 7 years, while a Las Vegas Short Sale does not affect your credit score that much. FNMA has reduced the recovery time to new loan qualification after Las Vegas Short Sale to 2 years.
There are programs offering Cash for Cooperation to the seller:Banks are now offering Las Vegas home owners a Cash incentive in order to cooperate with the sale of the delinquent home through the Las Vegas Short Sale.
Probable Relief from collectors after Las Vegas Short Sale:After a Foreclosure in Las Vegas, the lenders have a right to go after the borrower for whole balance of your loan. By law your still owe them money and they could come after you legally to collect in Las Vegas. Most of times, we are able to negotiate with the lender to wipe out your debt. In most cases the seller will get out of the mortgage liability and will not face bankruptcy and harassing calls from collectors. When the actual Las Vegas Short Sale is completed, most banks will report to your credit report that your account was paid in full for less than the full amount or your credit report may be marked as settled. Las Vegas Short Sales.
Dignified Solution:a Las Vegas Short Sale allows us to sell your property so you could go back on track of your life. It is a dignified solution to difficult problem. The Las Vegas Short Sale is the same as a regular Real Estate sale. There will not be sheriffs performing lock outs, neighbors talking about brown grass, Bank Foreclosure For Sale signs. Las Vegas Short Sale.
My Foreclosure date is scheduled: Will I have enough time to do a Short Sale In Las Vegas?
Many people in Las Vegas do not realize that foreclosure process can be stopped. A Las Vegas Short Sale lender may be persuaded to delay the foreclosure to allow an attempt to negotiate Las Vegas Short Sale. As long as there is an offer on your Short Sale home and a complete short sale package submitted to the lender, they will often allow the sale date to be rescheduled multiple times.Accepting a buyers offer in a Short Sale will NOT automatically stop the foreclosure process, and sometimes guidelines set by the mortgage holder cause a home to foreclose. There are no guarantees while in Las Vegas Short Sale Process, but many sellers have been successful. Las Vegas Short Sale
Ideally we with complete staff would like to begin working on your Las Vegas Short Sale as soon as possible! If you know that you are unable to keep up with your payments and will be falling 30+ days behind please contact us ASAP and get help now on you Las Vegas Short Sale. The important thing for you to know and keep in mind is that the sooner we begin working with you on the Las Vegas Short Sale process, the more you increase your chance of a successful closing. Dont wait any longer. Las Vegas Short Sales.
10 Great Questions to Ask Your Short Sale Agent in Las Vegas
The main reason that Short Sales in Las Vegas are not successful is because they were never really qualified short sales to begin with. Just because it might look like a Las Vegas Short Sale and quacks like a Las Vegas Short Sale doesn't mean it's a short sale. If you're the buyer and looking to buy a Short Sale, you must talk with the listing agent.
You might find different skill sets and negotiation levels among real estate agents in Las Vegas. No all agents are the same. Also, throw into the mix that almost 75% of Las Vegas agent populations close maybe 4 or 6 home sales a year, so a large number of agent are short on experience in Las Vegas.
#1 Question to Ask Your Las Vegas Short Sale Agent: What is Your Level of Short Sale Experience in Las Vegas?
Just by the note of Las Vegas Short Sale agent voice, you should tell if agent is experience or not. It takes to close over 300+ Short Sale in Las Vegas to really have great knowledge and confidence. We have SOLD already more Short Sales in Las Vegas that most of agent will even sell in their career.
#2 Question to Ask Your Las Vegas Short Sale Agent: How Many Loans/Liens Are Involved in This Las Vegas Short Sale?
The easiest Short Sale in Las Vegas would be with 1 loan/lender on the property. Normal processing time( if no complications) would be to get the keys in 60 days. When there are 2 or more loan/lenders on Las Vegas Short Sale, you can be waiting more that 6 months for approval letters and still at the end never receive approvals. MI (Mortgage Insurance) Company in Las Vegas Short Sale does expedite the processing time neither.
#3 Question to Ask Your Las Vegas Short Sale Agent: What Loan(s)/Lender(s) You Have On This Property?
Based on our recent experience: Wells Fargo, Bank of America, SPS and couple other lenders are in fact easier to work with on Las Vegas Short Sales. A lot of banks are using Equator system now, its on-line system that generates tasks to all parties automatically makes the Short Sale in Las Vegas to move a lot quicker.
#4 Question to Ask Your Las Vegas Short Sale Agent: Is This a Fannie Mae or Freddie Mac Short Sale in Las Vegas?
Have your fingers crossed that your Las Vegas Short Sale would NOT have any government agencies to look over the Short Sale it becomes a very long Short Sale in Las Vegas. We just closed HAFA Short Sale 9 months process. Not because we dont know what were doing, its just a government Short Sale in Las Vegas with all additional paperwork required from seller/buyer/agents.
#5 Question to Ask Your Las Vegas Short Sale Agent: Has Seller Provided Any of Requested Financials For Las Vegas Short Sale?
Short Sale Lender will ask but not limited to these docs: 2 years of tax returns, bank statements for 90 days, payroll stubs for 30 days and W2s, in addition to the letter. File would be approved a lot quicker if most of financial for Las Vegas Short Sale are in place already.
#6 Question to Ask Your Las Vegas Short Sale Agent: Do You Know If Seller(s) Would Consider To Contribute CASH/PROM NOTE To Closing?
Nevada is State that allows deficiency judgments against the seller and sometimes is the only way to have the bank(s) to agree to a Short Sale in Las Vegas. We saw in the past , Even a small contribution of $1000-$2000 would help lien holder to agree to a Short Sale quicker and WAIVE Deficiency after property is SOLD.
#7 Question to Ask Your Las Vegas Short Sale Agent: What Happens After Seller Accepts an Offer In Las Vegas?
After offer is by the seller(homeowner), Property MUST be placed to C/P status on MLS. Then after EMD funds are received from he buyer, a Complete Short Sale Package needs to be submitted to the bank.
#8 Question to Ask Your Short Sale Agent: How Many Offers Will You Send To The Las Vegas Short Sale Bank/Lender?
ONLY ONE OFFER can be send to the bank for review. If you get any other answers, agent might be in breach of some ethical standards being enforced by GLVAR.
#9 Question to Ask Your Las Vegas Short Sale Agent: How Long Before We Get Short Sale Approval(s)?
ONLY preapproved HAFA Short Sales in Las Vegas can be accurately guessed on Approval letters timing. Expect for the best: 45 day and letters are received, but prepare for the worse: 90days+.
#10 Question to Ask Your Las Vegas Short Sale Agent: What Is It Expected From A Buyer In Las Vegas Short Sale?
Patience, patience and one more time patience!! Las Vegas Short Sale: Its a long and complex route. After earnest money is released to escrow, be patience and wait for banks response. While waiting for Short Sale approval letters, buyer can make sure that paperwork to apply for a new loan are in place. Inspections can be completed as well, to save time during due diligence period.
Mantas Raulickis and LV-REO TEAM, Las Vegas Short SalesREALTY ONE GROUP, INC. - Las Vegas Short Sales2831 St. Rose Parkway #100HendersonNV89052Phone: 702-588-6868Cell: 702-336-6610Fax: 888-838-4276
SOLD@LV-REO.COMWeb: www.MyLuxuryHomesofLasVegas.comThe Real Estate for sale data on this website comes in part from the INTERNET DATA EXCHANGE (IDX) program of the Greater Las Vegas Association of REALTORS MLS. - GLVAR DEEMS INFORMATION RELIABLE BUT NOT GUARANTEED. -Powered by MarketLinx