(702) 277-1427

Summerlin Foreclosures

Las Vegas, NV

The foreclosure market is rewarding to pursue. 

In a foreclosure transaction, typically the home is sold to the highest bidder. So it's good to bid low enough to still make it a worthwhile investment for you and yet high enough to "outbid" the other parties interested in purchasing the property. 

These days, the most common foreclosure is one in which a bank lists a home for sale at a discount off the general market value or appraised price. Since banks don't have a mortgage to pay every month (they own it), there may not be a sense of urgency to get rid of it right away, although they would certainly be happy if it sold today. You can expect between a 5% and 20% discount.

Don't be too discouraged if your offer is outbid by another purchaser. Winning a bid is a "numbers game" and it takes a persistent series of offers to get an a bargain price into escrow. That's where we come in, and it's a service we're happy to provide to our clients.

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