Short Sales in Nevada are Complicated – Why Would I Want to Buy One???

    As a prospective home buyer in Carson Valley Nevada, you may be asking yourself this very question.

    If you are a homeowner in distress, and have heard some of the horror stories from people you know, you may be wondering if anyone will be willing you buy your Carson Valley home as a short sale?

    The good news is YES! Buyers are willing to buy short sales, demonstrated by February’s Carson Valley home sales. So – since short sales are getting approved more frequently and are closing, let’s talk about the advantages to buying a short sale.

    1. A short sale usually is not vacant. Typically, it’s occupied by the owner or in some cases, a tenant. When homes are vacant, very quickly the systems begin to suffer from lack of use. When compared to a Bank Owned property, short sales often are in better shape and require less repairs.

    2. Short sales have less competition.
    As the stigma of buying REO properties fades away, more and more buyers are open to considering and ultimately buying bank owned REO properties. This means you can expect multiple offers competing with you as a buyer. This can drive the price up. On short sale listings, there is usually less competition.

    3. When a lender is realistic and reasonable, the buyer can get a great deal! Anyone considering buying a short sale should always have their buyer’s agent run recently sold comparables to determine the true value of the home. Any individual completing an independent valuation (often known as a BPO – broker’s price opinion) or appraisal will be considering the same comparables to value the home.

    So there you have it – 3 reasons why buyers want to buy your Carson Valley Short Sale!

    This blog post originally posted on on March 4, 2011 by Christianne Gordon.

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    Christianne O'Malley

    I am an award winning top-producing Realtor with over $300 million in lifetime sales. I represent buyers and sellers across Northern Nevada including Reno, Sparks, Carson City, Dayton, Virginia City, Minden, Gardnerville, Genoa and beyond.

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