Home Buying in Las Vegas>Question Details

Cuazar, Renter in Las Vegas, Las Vegas,...

i want to buy a house in las vegas and i want to pay in cash. i have to pay paper work and one inspector..what are the steps?

Asked by Cuazar, Las Vegas, Las Vegas, NV Wed Feb 29, 2012

a want a house around 45k all the proses to buy a house in cash is same as financed by a bank?

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Answers

22
Banks do not look at financing buyers the same way they do cash buyers. Financing buyers have financing contingencies (unless waived) and the buyer has a loop hole to get out of the deal at the very end should their financing fall through. A cash buyer does not have a financing contingency. This makes the cash offer stronger.

In addition, cash deals are not required to get an appraisal done. If it is a financing deal they will require an appraisal. If the appraisal comes in less than the purchase price the buyer has the right to renegotiate purchase price with the seller or cancel escrow (unless the appraisal contingency is waived). This also makes cash offer stronger than the financing deal.

Inventory is low and cash is king, HOWEVER, you can still get financing deals accepted as long as you have the extra cash to bring to the table to pay for the difference between the appraisal value and the agreed purchase price as homes are selling above appraisal value.

You can read more about the competitiveness of the market as well as how to prepare a strong, clean offer so that your offer gets Accepted over the other competing offers here: http://=www.trulia.com%2Fdiscussion%2FHome_Buying-robert_adams_expl… target="_blank" rel="nofollow">http://www.trulia.com/discussion/Home_Buying-robert_adams_ex…

I hope this is helpful!

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
1 vote Thank Flag Link Wed Jan 16, 2013
Hi Cuazar,
The fees to purchase home home for cash are much lower than if you are financing, plus if you are looking to buy a single family residence there are homes for that price range now, believe it or not- And cash purchases make the transaction much more streamlined. Asset managers for banks lean towards cash buyers, but the bottom line is offering the highest net price to the bank.
The steps? You need to sit down with us, and we will go over the steps.
Paul
Web Reference: http://www.mayteamlv.com
1 vote Thank Flag Link Wed Feb 29, 2012
Cuazar, I understand you just fine. You will only have to pay: pro rated property tax, sewer, trash prorated amount, transaction fee of 335, possible appraisal, Inspection...or just figure about 1% or less to be safe. Let me know if we can be of more help to you.

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
"A Nation of Sheep Breeds a Government of Wolves".
Know the Constitution & Bill of Rights.
Website - http://matthewsellslasvegas.las.mlxchange.com
1 vote Thank Flag Link Wed Feb 29, 2012
Are you going to do some work to a property? We had investment properties that need work. I have bank owned properties that need work. Give us a call
Web Reference: http://bit.ly/14po7I0
0 votes Thank Flag Link Fri Aug 30, 2013
DAVID COOPER, Landlord, Las Vegas, NV
A Decent House for $45,000 is NOT happening in Aug 2013 in Las Vegas. There is some older stuff that is in the catagory of teardpwn, but with only $45,000 that's out of your price range


David Cooper - Las Vegas Investor Since 1994
http://www.lasvegaswinner.org
0 votes Thank Flag Link Fri Aug 30, 2013
Best place to start is to hire an Exclusive Buyer Agent to represent you. EBAs represent home buyers only, and work to get you the best price and most favorable terms. You can go to NAEBA.org for a referral to an EBA in your area.

I'm an EBA and I wrote a book called "Buying a Home: Don't Let Them Make a Monkey Out of You". It will be the best $6 you've ever spent.

Best of luck!
0 votes Thank Flag Link Fri Aug 30, 2013
cash buyers are going ape http://tinyurl.com/nqmuz98
Flag Fri Aug 30, 2013
The best at putting cash buyers and home owners/sellers together and close fast http://tinyurl.com/nqmuz98
0 votes Thank Flag Link Fri Aug 30, 2013
FACTS: 60% of the deals on the market in Las Vegas are closing with cash now.
There are less than 3400 homes on the market now .About a 9 Day Supply.

With that said here is the LIST of Homes you need to look at:
http://las.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1024648…

Buying these homes require tremendous tenacity and clever planning and mostly using your connections of "who you know".

With that said here is a cold bucket of honesty. I don't have the time to help unless you are willing to show me a committement with a buyers brokerage (Exclusive agency) and you will also compensate me sufficiently for my time ($3,000). Then in about 4 weeks time you would own a home in Las Vegas under $45,000. Are you in?
http://WWW.LAS-VEGAS-REAL-ESTATE-HOME.COM

Phil Scheinman, ABR, GRI, E-PRO
Broker * Sales Agent * Realtor
Realty One
2831 St. Rose ParkwaySte. 100
Las Vegas, NV 89074
Direct: 702-580-9198
Fax: 702-614-9337
E-mail:smokey25@cox.net
0 votes Thank Flag Link Tue Feb 19, 2013
"a want a house around 45k" Sorry, that price is 2012 history. Hope you have a lot more cash to invest


David Cooper Investments and Property Management
http://www.lasvegaswinner.org 702.499.7037
0 votes Thank Flag Link Tue Feb 19, 2013
FACTS: 60% of the deals on the market in Las Vegas are closing with cash now.
There are less than 3400 homes on the market now .About a 9 Day Supply.

With that said here is the LIST of Homes you need to look at:
http://las.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1024648…

Buying these homes require tremendous tenacity and clever planning and mostly using your connections of "who you know".

With that said here is a cold bucket of honesty. I don't have the time to help unless you are willing to show me a committement with a buyers brokerage (Exclusive agency) and you will also compensate me sufficiently for my time ($3,000). Then in about 4 weeks time you would own a home in Las Vegas under $45,000. Are you in?

http://WWW.LAS-VEGAS-REAL-ESTATE-HOME.COM

Phil Scheinman, ABR, GRI, E-PRO
Broker * Sales Agent * Realtor
Realty One
2831 St. Rose ParkwaySte. 100
Las Vegas, NV 89074
Direct: 702-580-9198
Fax: 702-614-9337
E-mail:smokey25@cox.net
0 votes Thank Flag Link Tue Feb 19, 2013
As of Jan 17, 2013, you will be hard pressed to find a house for $45,000. Prices have inreased 25% in the las 12 months, and find any house in a decent area is almost impossible,

David Cooper Foreclosure Investor
http://www.lasvegaswinner.org
0 votes Thank Flag Link Thu Jan 17, 2013
You are very wise to want an inspection. Once your agent has the paperwork back from the bank or lender, you will have a finite number of days to have an inspection. You are welcome to contact me or visit my website and contact any one of us for more information.

Lee Taylor
702.616.6775
LVInspector@yahoo.com
http://www.LasVegasInspector.com
0 votes Thank Flag Link Thu Jan 17, 2013
Were you able to find a home?
0 votes Thank Flag Link Tue Jan 15, 2013
With interest rates at 3.5% fixed for 30 years, I would put 50% down and save my cash for a rainy day. Just doesn't make sense not to take advantage of this insane interest rate. At 50% down, you will have no trouble qualifying.


David Cooper Investor 702-499-7037
FREE Bank_Owned Foreclosure List
http://www.lasvegaswinner.org
0 votes Thank Flag Link Sun Nov 4, 2012
Hi Cuazar,

You can contact me I have a number of properties that are ready to move in. Houses for 45k kind of hard in las vegas , but Im sure I can satisfy you taste in homes. Email me chunnie702@yahoo.com
0 votes Thank Flag Link Sun Nov 4, 2012
Hi Cuazar,

All of the agent remarks below are accurate so I wont repeat them. I am known through my client stream to be very meticulous and loyal. Please call, text or email me with any questions.

Corey Toushin, REALTOR
Realty One Group
(702)525-5170
ctoushin@gmail.com
0 votes Thank Flag Link Thu Mar 1, 2012
Cuazar
I can set up a search page for you to view available properties. When we find a property that fits your criteria we will do the research to make sure you pay the right price. We look at comparable sales and do other research on the property depending on what type of sale it is. I am paid by the seller. Once we have a property we will submit an offer to the seller for acceptance. When we get the offer accepted we will open escrow and deposit your earnest money in escrow. Then depending on what type of sale it is(REO -ShortSale-Equity Purchase) we do the disclosures and due diligence process of getting the inspection and if there is a home owners association reviewing the Common Interest Community rules and regulations and associated paperwork. Once we have that done and everything on the inspection is good and or repairs are made on any issues we are ready to close. I have a great title and escrow team that I have worked with for many years . That is the process in a nutshell. I hope this helps and I am always available to help.
Thank You
Suzie Marquardt
702-234-7653
0 votes Thank Flag Link Thu Mar 1, 2012
Hi! Great question! Your fees are minimal with cash! They saying
0 votes Thank Flag Link Thu Mar 1, 2012
The steps are the same for the most part, except you won't need a lender, so it can close much faster. Usually 2 weeks or less if there are no HOA's on the home you are buying. We can get a home inspection the same day in most cases. Once you see what you like, you need to move fast because the good ones go right away here!
I can set an auto search for you, so that you see the new listings as they hit the market. Then I can email the paper work for your initials, and submit your bid in less then an hour. your offer is contengent on an inspection, so if the seller approves your bid, we can order an inspection, and then have 10 days to decide if you wish to make the purchase?
Just email me if you would like to get started, and I will send you the best homes Vegas has to offer!
Web Reference: http://VegasHomeSearch.info
0 votes Thank Flag Link Thu Mar 1, 2012
Hi Cuazar:

You will be pleased to know that there is a lot less paperwork when buying with cash, as well as saving money without financing fees.

You and your REALTOR will choose the home and write the offer together. You will need proof of funds, to be presented with the offer. This is usually a copy of your bank statement.

Call me when you are ready. I'm here to help.

Judye Phebus 702-595-1229
Web Reference: http://JudyePhebus.com
0 votes Thank Flag Link Thu Mar 1, 2012
Why do Florida folks answer Las Vegas questions? No wonder he doesn't understand; He doesn't read carefully what locality the question is in.
0 votes Thank Flag Link Wed Feb 29, 2012
You want to phase this in better diction so we can understand what you are really asking?
0 votes Thank Flag Link Wed Feb 29, 2012
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