Will, Both Buyer and Seller in Oak Hills, CA

300 Salinas Henderson, NV 89014 is a short sale, the listing agent told us that the owner does not want to move and will decide what rent she will pay

Asked by Will, Oak Hills, CA Fri Aug 27, 2010

to the buyer of this property. The owner who is in a short sale will make it contigent to the sale. The owner will not even show the house until you agree to rent to her. The agent says that is what is going on all over Las Vegas area. I see why Las Vegas is a real estate mess. If she can not pay her mortgage why would she pay her rent?

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I am a loan officer and deal with these types of deals at times. Hopefully by the end of the month they will let the bill expire that keeps from forteclosing then she will lose her leverage. I have a few options i can discuss with you, just contact me.
0 votes Thank Flag Link Fri Feb 22, 2013
Actually the strategic default is illegal, even the contingency on agreement to rent the house after selling on short sale. But It;s a lot of houses on the market that do not have this contingency, and listing agents did their jobs educate the seller. My advice is -hire the agent/broker who knows how short sale works.If you do not have agent working for you call me or e-mail me, I will be happy to explain to you the process and find your new house in Las Vegas
0 votes Thank Flag Link Sun Oct 28, 2012
Still a deadbeat. Some people make good tenants because they are trying to rebuild their credit. What is says is that the person who paid $180,000 for a house in 2002 and know is in a short sale done something that they should not have. Why would someone who paid $180,000 for a house and still have a job, be in a short sale? GREEDY. Probably took money out of the house and know cannot afford it. To John Brassner statement: "They miss their mortgage payments for strategic reasons sometimes, not because they can't pay. " they are still greedy. A seller would not be demanding in their stance to stays in a housethey can not afford and then decideds the amount of rent they want to pay if their was not greed involved. That tells me about a persons ethics and personality. But a foreign buyer will probably put up with her and those conditions. Lots of conditions for a person who can not pay the bills. But as the real estate person says"This happens all the time in las vegas."
0 votes Thank Flag Link Fri Aug 27, 2010
I think your answered your own question, Will. Although many homeowners do become good renters; They miss their mortgage payments for strategic reasons sometimes, not because they can't pay. But, if owner is being a pain in the asset, I think I'd look elsewhere.
0 votes Thank Flag Link Fri Aug 27, 2010
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