Las Vegas Real Estate - Information, Sales, Leasing and Property Management Pete: (702) 301-8911 Ameri-Dream Realty, Las Vegas, NV
Viva Las Vegas!
REO / Bank Owned For Sale
Fantastic buying opportunities now to buy a Las Vegas home or Las Vegas commercial property from the banks!
Bank owned properties are often priced to sell relatively quickly. As always, buyer beware. You can get a smokin' deal or a smokin' gun as they are sold As-Is. I have seen bank owned homes and bank owned commercial properties in pristine condition, in dreadful condition and many in-between.
That said, there may be great potential in properties that are not in pristine condition. All depends on your level of comfort and whether you are willing to do some repair work.
If you are ready to go real estate shopping in Las Vegas, please give me the opportunity to assist you. Contact Pete
If you are buying a home as an owner-occupier or investor, have you checked out the deals available in Rhodes Ranch, Lake Las Vegas, or even more exclusive communities like Spanish Trail and Red Rock Country club?
If you are buying raw land or a commercial property, please note
- it is currently virtually impossible to get a loan to buy raw land in Las Vegas valley, so no cash, no land
- owner-user commercial properties - probably be either cash or SBA backed loan
- investment commercial properties - some bank owned properties will have a good CAP, others will have a poor CAP as tenants have gone out of business due to the recession.
Definition: REO (real estate owned) / Bank Owned – Real estate that has gone through the foreclosure process and either a sheriff sale or public auction. If the property is not sold, it is returned to the bank. (the bank has title to the real estate after the Nevada foreclosure process)
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