Frank Becerra's Discussions

There is a very simple way to find out. If the agent is the one representing the seller as well, you can ask for her a confirmation of receipt, say from the package that she sent to the bank. If she is only representing you, you can request the fax or e-mail copy if she scanned the offer and sent it. There are records of everything. The tactic some agents use is saying that the bank has not responded, well here's news for those agents, the bank is not selling the house, the current homeowner is. The home owner will either accept or reject an offer, agents like keeping "back ups", I have the agents either accept or decline the offer, reality is that 99% of the banks want to see only the highest and best anyway. I hope this helps.Las Vegas Foreclosures

We have a similar program in Las Vegas, it can be used for down payment as well up to 10,000.00. With current Las Vegas properties it goes a long way, I currently have a client using it to purchase their home.Las Vegas foreclosures

True, but the offer is initially accepted by the seller, the bank will determine if the selling price coincides with the bpo or appraisal they use and if the financial need is there. The bank does not sign the listing agreement therefore is not the seller. The person placing the offer will get a response from the seller as to weather the offer has been accepted by the seller to send to the bank. The bank will not sign on the line for seller's acceptance, nor will they sign at title.P/S. serves to clarify that I've had some agents give me that response without ever presenting the offer to the seller which is what I understood the original question to be. From what was stated in the original question I don't seem to see that the buyer received a copy of the signed contract from the seller which is what I was responding to.I know the bank will issue a letter of response with a net an all, but it seems the buyer hasn't even received a response from the seller.

The above contribution is correct, and since everybody is looking for a formula, here it is.I do reports for the banks and here is what they aske me to provide in it.Properties closed within 60 days, if area is saturated with foreclosures use them as comps, properties must be within 15% of each other, on square footage, year of construction no more than 15 years. Give that to your realtor and they will come up with a CMA, that is what they are looking for.Market value or as close to it as possible, a short sale is not a deal waiting to happen.P/S: Be armed with patience.Good LuckLas Vegas Nevada real estate

Take this considering the way the market is today here in Las Vegas. Understand that real estate is local.Despite the fact that there are so many foreclosures, properties are recivind multiple offers and on average the better properties are lasting 11 days, some banks are accepting offers a minimum of 5 days before they will consider any offer and will not surprisingly send out a multiple offer notice to all to bid up the price.This will not change, take a look at days on market, the longer it's been on the market the more likely they'll realize that their price is incorrect. Have your agent check the comps in the area, I do reports for the banks, and the banks are not giving away properties, they are asking us to put them as close as possible to recent sales of like properties.I have several investors I'm working with that I've put dozen or so offers out using the same magical number, none of which was accepted, and a month or so I've showed them that banks accepted full priced offers.This is here, your agents job is to work for you. The agent that lists the property has no idea what the bank will say, as the agent just put his name on the property and is maintaining it.Unless there are multiple offers, go ahead and place your offer, you never know.Good luck.Las Vegas Foreclosures

I'm on the board of directors of a local non profit group out here in Las Vegas, I  would recomend that you start with a first time home buyer class, they are free and government sponsered, I've seen people learn a lot and become better home owners.They will also have lenders that have acces to specialized programs that usually require you to take he class anyway. They will not limit you on the type of home, and non -profits are a close nit family so if you go to one they will tell you about all the programs. Go to the HUD website for a list in your area.Good Luck.Las Vegas nevada real estate

It is usually done automatically, and as soon as it shows you can charge for your investment. Deeming you obtained permits, and they were all finalled.However.....if you did not get permits for the new construction it will not show on public records, and you can not charge for it as it becomes an illegal addition and can be ordered to be torn down at any time. Your buyer would not, or should not pay for it as they can have it ordered torn down at any time.