Home Buying in Las Vegas>Question Details

virtualninet…, Home Seller in Las Vegas, NV

I am selling my townhouse, but can't afford the resale package. What should I do?

Asked by virtualninetofive, Las Vegas, NV Fri Jun 28, 2013

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10
Work it out with your listing broker. Your broker may front the costs and have it reimbursed from closing.
0 votes Thank Flag Link Mon Jul 29, 2013
If you have an intelligent experienced realtor then they should be able to assist you in this matter. You are not alone.

Now if you don't have a realtor, this is one very good example of why people should have realtors in their corner when buying or selling real estate.


Search http://www.Las-Vegas-Real-Estate-Home.com

Regards,

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

http://www.philScheinman.com
0 votes Thank Flag Link Sun Jul 7, 2013
Just be honest with the potential buyer's agent, and tell him/her that you can't afford the resale package and that if the buyer wants to purchase your townhouse, they will have to pay for the package. Good Luck! Becky
0 votes Thank Flag Link Mon Jul 1, 2013
Hi,
Talk to your agent and see if he/she will pay for the HOA resale package upfront and then you can reimburse your agent through escrow for that fee. Your agent will just need to supply the invoice to the title company so it'll be reflected on the settlement statement.
0 votes Thank Flag Link Sun Jun 30, 2013
Hi Virtualninetolive

What I have done in the past if is not a short sale
and looks like the buyer has the ability to get financed
or the buyer is paying cash, I will pay for the resale package
and have the seller sign a addendum reimbursing me
@ close of escrow out of there proceeds

If I can be of further assistance and answer
Any of your other questions please contact me

Thanks
Jimmy Balsano
Realty One Group
702-281-2225
Fax 1-866-371-8421
Email: jimbalsano@gmail.com
CERTIFIED FOORECLOSURE ALTERNATIVES CONSULTANT (CFAC)
REO-BPO CERTIFIED

I KNOW LAS VEGAS AND HAVE FOR OVER 40 YEARS
http://www.jimmybalsano.com
http://www.salestraq.com/las_vegas/newhomesearch/index.cfm?id=4780(New Homes
0 votes Thank Flag Link Sat Jun 29, 2013
From my wife (a licensed NV attorney): In NRS 116.4109 section 1 (the law regarding resale packages): "...a unit’s owner or his or her authorized agent shall, at the expense of the unit’s owner, furnish to a purchaser a resale package...".
For example, I just had a Canadian client and the Property Mgmt website wouldn't accept his Canadian credit card, so my wife drew up a quick addendum to the listing agreement that I would acquire the resale package, and be paid by the owner.
Obviously there are some risks to the agent if the deal falls through, but I felt comfortable with this transaction.
-Andy
Andy@RealEstateAndy.com
702-430-9599
0 votes Thank Flag Link Fri Jun 28, 2013
That's a tough one. The seller is required to pay for and provide the resale pkg to the buyer. The buyer can cancel the deal if it's not received.
0 votes Thank Flag Link Fri Jun 28, 2013
We, as agents have had to pay for them, and although the seller is supposed to pay, we've also had buyers pay for it too. Everything is negotiable. If you are making any proceeds from the house, have the agent pay for it up front and reimburse your agent at closing.
0 votes Thank Flag Link Fri Jun 28, 2013
The seller can ask for the buyer to pay if they are not able to afford the costs - the buyer can choose not to and cancel - However if you can not provide - they can not force you to pay something you cant pay for -if the agents and buyer want to make the deal happen they will come together and figure it out.
0 votes Thank Flag Link Fri Jun 28, 2013
Unfortunately the seller has to pay for this and provide to the buyer's agent to give to their client. I might suggest speaking to your realtor about coming up with a solution as one way or another it has to be given to the buyer prior to closing.
0 votes Thank Flag Link Fri Jun 28, 2013
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