Property owners and lenders are both in awkward positions when a loan goes into default. If your offer is less than the amount of the debt on the property, ask the owner to present your offer to his lender.

Have your financing lined up so that you know you will be in a position to close when settlement time arrives.

Have an attorney or title company search the title to the property noting any other liens, restrictions, or encumbrances that may exist.

Money spent on a real estate appraisal in such circumstances is money well spent.

Have a qualified appraiser or real estate professional supply a valuation.

(Please keep in mind that the owner may still be living in the property and their privacy should be respected). Drive around the area to make certain it is a community that is right for you.

Schedule a visit to the property so you can see for yourself what condition it is in.

If the property is already listed with a Realtor, contact that broker to get specifics as to the asking price of the property, its condition, and the willingness of the seller or lender to negotiate a short sale.

Contact the current owner of the property to discuss the terms that might be acceptable.

Steps as you search for your pre-foreclosure property: The investor/investment company could then offer you a Rent-to-Own agreement on that property that you worked out with them in advance, which could stabilize the investment and prevent complications. If the current owner in Las Vegas, Nevada doesn't make their mortgage payments, they could lose the property which would directly affect you and your Rent-to-Own agreement.įor this reason, many buyers find a real estate investor or investment company to buy a Pre-Foreclosure property from the current owner. You may also want to check with a real estate attorney or other legal authority to discuss the potential risks of executing a Rent-to-Own agreement with the current Pre-foreclosure owner.

Alternatively, the homeowner might be willing to work with you on a monthly amount that can help them avoid the foreclosure process.

To make a reasonable offer for this home, it’s advisable to use either the loan balance or EMV amount in conjunction with local sale price comparables to determine an appropriate offer. Instead, you’ll find either the original loan balance or an Estimated Market Value (EMV) provided. Since Pre-Foreclosure properties are not formally listed for sale, there is no asking price available.

However, instead of going through a potentially lengthy foreclosure process, which could take up to 18 months, the homeowner may be open to considering a Rent-to-Own option that covers their mortgage. It is currently in an initial default stage in Las Vegas, NV, commonly referred to as Pre-Foreclosure, indicating that the homeowner has missed at least one payment and is considered delinquent. Please take note that this property in Las Vegas, Nevada is not listed as a Rent-to-Own (RTO) opportunity. This listing located at Guava Nectar Ave in Las Vegas, NV could be available as a Rent-to-Own listing as well, additional diligence will be required from the buyer to determine if this listing can be approved as a RTO. The property located at Guava Nectar Ave in Las Vegas, NV is listed as a Preforeclosure

8133 guava nectar ave