Coldwell Banker Wardley Real Estate – Las Vegas and Henderson MLS News and Search Tool

June 9, 2010

• 2,732 sq. ft., 5 bath, 5 bdrm 2 story “ANOTHER GREAT SHORT SALE IN LAS VEGAS” – MLS® $99,900 – LAS VEGAS SHORTSALE

Filed under: MLS Listings - Real Estate — The Ballen Group @ 1:29 pm

2 Story For Sale in Northeast Las Vegas

1
LAS VEGAS MLS REAL ESTATE LISTING

• 2,732 sq. ft., 5 bath, 5 bdrm 2 story “ANOTHER GREAT SHORT SALE IN LAS VEGAS” – MLS® $99,900 – LAS VEGAS SHORTSALE

Northeast Las Vegas, Las Vegas  –  This home is a Las Vegas Short Sale.

Sometimes, to avoid going through the costs of foreclosure, a bank will sanction a short
sale by allowing a Buyer to purchase the home for less than the mortgage balance while the home is in pre-foreclosure stage. Pre-foreclosure state is the first of the three stages of foreclosures.

Here are some of the steps of a short sale:

Seller signs a listing agreement with a real estate agent subject to selling as a short sale with third party approval.

A Buyer makes an offer for less than the amount of the mortgage.

Seller accepts the Buyers purchase offer.

Sellers lender accepts the Buyers purchase offer.

Transaction closes when the Buyer delivers the funds, the bank releases the lien and the Seller delivers the deed.

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