THE BEST LAS VEGAS PROPERTIES
you want to get the best house you can for the least amount of money? Then make
sure you are in the strongest negotiating position possible. You see, price is
only one bargaining chip in the negotiations, and not necessarily the most
important one. Often other terms, such as the strength of the buyer or the
length of escrow, are critical to a seller.
Buyers get "prequalified" by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you "prequalified" and issues a certificate that you can show to a seller.
Sellers are aware that such certificates are WORTHLESS, and here's why! None of the information has been verified! Oftentimes, unknown problems surface! Some of the problems can include recorded judgments, child support payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients' bank account long enough, etc.
The way to make a strong offer today is to get "pre-approved". This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan; the only loose end is the appraisal on the property you want to buy. This process takes anywhere from a few days to a few weeks depending on your situation. It's VERY POWERFUL tool and very useful to have in your negotiating arsenal.
you have a house to sell, sell it before selecting a house to buy! A contingent
sale is a hard sell, unless it's with a new homebuilder who has other houses to
sell and can afford to put one on a contingency.
Let's pretend that we go out looking for the perfect house for you. We find it and you love it! Now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell your house. The seller figures that's a risky deal, since he might pass up a buyer who DOESN'T have to sell a house while he's waiting for you. So he says OK, he'll do the contingency but it has to be a full price offer! So you see, you paid more for the house than you could have because of the contingency.
Now you have to sell your existing house, and in a hurry! Otherwise you lose the dream house! So to sell quickly you might take an offer that's lower than if you had more time. The bottom line is that buying before selling might cost you TENS OF THOUSANDS of dollars. If you're concerned that there's not a house out there for you, then go on a window-shopping trip. You can identify possible houses and locations without falling in love with a specific house. If you feel confident after that, then put your house on the market.
Another tactic is to make the sale "subject to seller finding suitable housing". Adding this phrase to the listing means that WHEN YOU DO FIND A BUYER, you will have some time to find the new place. If you don't find anything to your liking, you don't have to sell your present home.
house hunting, make a list of things you want in the new place. Then make a
list of the things you don't want. You can use this list as a scorecard to rate
each property that you see. The one with the biggest score wins! This helps
avoid confusion and keeps things in perspective when you're comparing dozens of
When house hunting, keep in mind the difference between "SKIN AND BONES". The BONES are things that cannot be changed such as the location, view, and size of lot, noise in the area, school district, and floor plan. The SKIN represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. I always recommend that you imagine each house as if it were vacant. Consider each house on its underlying merits, not the seller's decorating skills.
agent should show you everything available that meets your requirements. Don't
make a decision on a house until you feel that you've seen enough to pick the
best one. Go to the Multiple Listing computer with your agent to make sure that
you are getting a COMPLETE list.
Don't forget to check into the SCHOOL DISTRICTS of the area you're considering. Information is available on every school, such as class sizes, percentage of students that go on to college, SAT scores, etc. You can get this information from your agent or directly from the school.
A word of
caution - agents create ads solely to make the phone ring! Many of the homes
have some drawback that's not mentioned in the ad, such as traffic noise, power
lines, or litigation in the community. What's not mentioned in the ad is
usually more important than what is. For this reason, be very careful when
reading ads. Remember that the person writing the ad is representing the seller
and not you! The most important thing you can do is having someone on
your side looking out for your best interests. Your own agent will critique the
property with an eye towards how well it meets your needs and will point out
any drawbacks you should know about.
Pick an agent
you feel comfortable with and enlist the services of that agent as a buyer's
broker. Then you become a client with all the rights, benefits, and
privileges created by this agency relationship, and you're no longer just a
Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? These "great deals" go to those people who are committed to working with one agent. When an agent hears of a great buy, whom do you think he's going to call? His client, who he has a legal obligation to work hard for, or someone who just called on the phone and said "keep your eyes open"? So to get the best buy on a property, hire your own agent and stick with him. It would be an honor to represent you in this endeavor and put YOUR interests first!
Phone (702) 768-8598
Fax (800) 948-0601
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© 2020 Marc Gohres
Revised April 12, 2020 9:57 AM