Archive for September 28th, 2012

Why Strategy Is Important For Las Vegas Homebuyers

Friday, September 28th, 2012

Getting excited about buying a house in Las Vegas is normal, but it’s important to always come prepared while searching. Although countless homebuyers are looking to take advantage of the discounted prices and the all-time lowest mortgage rates seen in forty years, many of these residence hunters are beaten out of the game by those capable and willing to deal in cash.
Despite being fully qualified and pre-approved by financial institutions, these buyers suffer from several disadvantages compared to those with cold-hard money on hand. From the seller’s perspective, transactions dealt with the latter are always easier and safer.

“In general, the buyer wants to put themselves in the seller’s shoes and think about what that seller must be going through in an effort to appeal to that seller,” says Robyn Yates, owner and broker of Windermere Premier Realty, Henderson. “For example, a short seller’s thoughts: I get nothing. I just want to get out of my situation.”

With that in mind, Yates recommends that folks with cash should acquire a cash-out refinance after the close of escrow. For buyers who don’t have the monetary funding in their pockets, the real estate agent recommends getting fully-approved before writing any offers.

Moreover, it’s possible to get a loan for a three percent down (instead of the usual ten to twenty percent) and still acquire conventional financing, which is more attractive to home sellers.
Both types of homebuyers can implement other strategies to gain tactical advantages over their counterparts. “Write a heartfelt letter to the seller about how much you love their home and how you see yourself living in the home,” suggested Yates. “Every seller loves it when someone else appreciates their taste and hard work.”

When it comes to short sales, wherein banks are asked to receive less than the principal mortgage balance, enlisting the help of a real estate agent who specializes in handling such matters is advised. This professional, along with the help of the listing agent, can help to make the transaction flow smoother.

Since short-sale sellers get no financial gain out of the deal, offering to take care of homeowners association dues (including unpaid) would definitely help.