What you need to know about the current Real Estate market in the greater Las Vegas area and how to purchase one.
In last year or so, the Las Vegas Real Estate market has attracted tremendous number of investors in US, Canada, China / Hong Kong / Taiwan, Europe, and home buyer because of the excellent value of the properties in Las Vegas. In some cases, you can’t build some of the Las Vegas houses now at the price they are selling for! Some Las Vegas homes cost less than a New 2013 mid-range car!! Take a look at at these low priced Las Vegas properties.So there is a lot of buyer out here, the buyers with the most prepared documents are usually the winners because they can submit the “offer to buy” the fastest.
In order to make an offer for Las Vegas properties, you must provide Proof of Funds and an Ernest deposit check along with the Offer to the Seller.
For investors and Home purchasers alike, As a Buyer, Chaely’s Services are COMPLETELY FREE to YOU. Her fees are paid for by the Seller or home builders. To get Professional Licensed Real Estate service, all you have to is contact Chaely at (702) 808-8983 or via email here. Call her now!!
So if you see a potential Las Vegas Home or investment properties on propertyVEGAS.com and are interested in possibly purchasing it or want more information than is shown on our website, you must email or fax to Chaely your Proof of Funds before more specific information are provided. This is to ensure the Seller that the Buyer’s intention is legitimate and sincere before we contact the Seller on your behalf. In many cases, Seller won’t even answer any questions from buyer if there’s no proof of funds (and they WILL ask) because that means to the Seller that the buyer might NOT be qualified to even purchase their property! No one wants to waste their time, especially Sellers. Also with that proof of funds in file, it’s faster to make any future offers on the good value properties. Good Properties usually sells very fast so the more prepared, the more chance to purchase the Las Vegas property.
Because of the demand of Las Vegas properties, if you are really serious about wanting a home or an investment property in Las Vegas, you must have the following available before you start driving to looking at your potential future dream home!
Proof of Funds – Bank Record, / PRE-APPROVED letter from Lender
In order to make an offer to purchase a Las Vegas property, the buyer must prove that the funds is available to buy the property to the seller. (an earnest deposit check is required along with offer.)
If it’s all cash offer, the buyer needs to submit a bank statement that proves there’s enough funds in the bank to purchase the property. So if the price of the property is $200,000, the buyer must show a bank statement that proves there’s more than $200,000 in their account. Or the buyer can ask their Bank to prepare a formal letter in English with the bank’s letterhead that states the buyer has enough funds in the buyers account to purchase that $200,000 property.
If it’s a loan offer, the buyer needs to have a pre-approval letter from their preferred Mortgage lender prepared for the amount.
Las Vegas property sells very fast. Remember, for excellent value las vegas properties, sellers now have multiple offers very fast, if your paperwork is not in order, and someone else’s paperworks are, you will most likely not get the house as sellers will most likely go with the buyer that closes the transaction the fastest- and that’s the person with the FINISHED paperwork ready or CASH! So get your paperworks ready before you go and see a property you might love or don’t waste your time!
A Check for earnest deposit money
To submit an offer to buy a property, the buyer needs to submit an earnest deposit check. Usually, this check is not deposited by Seller and is used to prove that the buyer is sincere about the purchase. (Proof of fund is needed along with offer)
once you see a prop you like, along with proof of fund in hand, you will need a check for earnest deposit money to make the offer that day! At this current market condition, if you went to preview the property and you love it but can’t make an offer asap, and you finally get that check to make the offer a few days later, most likely, the property is already in contract and they won’t even accept your offer, or your offer might be behind someone who made an exact offer as you, and seller usually take the earlier offers if that’s the case.
Without BOTH of the above items- Proof of funds, and Check for earnest deposit money – it will be not useful and a waste of time to physically drive to see any properties now in Las Vegas. You will be too late to make an offer and house will most likely be sold by the time you have those 2 items prepared..especially if you are doing a loan.
Email This Page
According to GLAVAR (Greater Las Vegas Association of Realtors) property value has gone UP roughly 14% compared to last year as of September 2012. Currently there’s a shortage of properties for sale in Las Vegas, inventory of properties for sale compared to last year is down over 23%. The average new listing price is now $155,000, up 19% compared to a year ago. To give you an idea, in September, there are roughly 16,000 available properties listed in Vegas, of those, only about 3900 DO NOT HAVE AN ACCEPTED OFFER!! So you see, Demand for houses in Las Vegas is indeed very high. Check out this latest resale property information from oct 17 2012.
A typical “good” value property listed anywhere in Las Vegas will receive upward of 10+ offers within 24 hours- with 7 to 8 of them 100% Cash offers, and usually above what the asking price is. Getting a property BELOW asking price is very rare in this market right now. In this market condition, you can only get a property below asking price if that asking price is abnormally high compared to what the market price of that property actually is. For example, if a house is listed at $150,000 and the last few of the same exact model just sold for $75,000 within the last few months, in this case, you can probably get an accepted offer less than $150,000. you can goto the recently sold properties in Las Vegas page and do a quick review. for more detail evaluation and consultation, please call Chaely at (702) 808-8983 or send her your information
PropertyVegas.com provides you with up-to-date listings and you are free to do some research without leaving the comfort of where ever you are by using your pc or a mobile device! But if you are really serious about wanting a home or an investment property in las vegas, you must have the following available before you start driving to looking at your potential future dream home!
Proof of Funds – Bank Record, or PRE-APPROVED letter from Mortgage company.
In order to make an offer to purchase a Las Vegas property, the buyer must prove that the funds is available to buy the property to the seller. (an earnest deposit check is required along with offer.)
If it’s all cash offer, the buyer needs to submit a bank statement that proves there’s enough funds in the bank to purchase the property. So if the price of the property is $200,000, the buyer must show a bank statement that proves there’s more than $200,000 in their account. Or the buyer can ask their Bank to prepare a formal letter in English with the bank’s letterhead that states the buyer has enough funds in the buyers account to purchase that $200,000 property.
If it’s a loan offer, the buyer needs to have a pre-approval letter from their preferred Mortgage lender prepared for the amount.
Las Vegas property sells very fast. Remember, for excellent value las vegas properties, sellers now have multiple offers very fast, if your paperwork is not in order, and someone else’s paperworks are, you will most likely not get the house as sellers will most likely go with the buyer that closes the transaction the fastest- and that’s the person with the FINISHED paperwork ready or CASH! So get your paperworks ready before you go and see a property you might love or don’t waste your time!
A Check for earnest deposit money
To submit an offer to buy a property, the buyer needs to submit an earnest deposit check. Usually, this check is not deposited by Seller and is used to prove that the buyer is sincere about the purchase. (Proof of fund is needed along with offer)
once you see a prop you like, along with proof of fund in hand, you will need a check for earnest deposit money to make the offer that day! At this current market condition, if you went to preview the property and you love it but can’t make an offer asap, and you finally get that check to make the offer a few days later, most likely, the property is already in contract and they won’t even accept your offer, or your offer might be behind someone who made an exact offer as you, and seller usually take the earlier offers if that’s the case.
Without BOTH of the above items- Proof of funds, and Check for earnest deposit money – it will be not useful and a waste of time to physically drive to see any properties now in Las Vegas. You will be too late to make an offer and house will most likely be sold by the time you have those 2 items prepared..especially if you are doing a loan.
PropertyVegas.com