Judy Boughrum

If you're looking for a great deal, look at Bank Owned Homes or Foreclosures. However, not all bank owned properties are bargains. It is imperative to thoroughly investigate the condition of any home you wish to purchase. Bank Owned, or REO's as they are known to us, often are damaged by vandals or disgruntled former owners. If damage is limited to missing appliances, carpet destroyed, windows broken, etc, you'll probably find the house is a bargain. The Banks know that Buyers will want to personalize a home and will be willing to repair & replace damaged or missing items. They don't want to hold or maintain the property for any longer than necessary and often are willing to reduce the price or pay Buyers closing costs just to get the property sold. Severely damaged homes will require some money to do repairs. These homes are usually priced accordingly-and some of these are the real bargains!

 

The selling process for a bank owned home is almost the same as any regular sale. Once the contract is accepted Escrow will be opened, from there it will be a matter of 30-45 days to close the Escrow and take posession of the home. 

 

Go to the drop down Foreclosure button on my Property Search to see all the foreclosures in Las Vegas.