I'm trying to buy a low priced home in Vegas with all cash. The agent emailed me, "You make an offer and then we see it." What? Is?

Asked by daisypink999, Laguna Hills, CA Sat Feb 22, 2014

this how it works in Vegas?

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Matthew D'Er…, Agent, Las Vegas, NV
Sat Feb 22, 2014
I use this technique very successfully because of the huge amount of investors looking for the same deals. It's all in the agreement and strategy you and your agent agree to. I do this a lot with my out of state investors. I put in offer that buyer and 48 hrs to inspect home after offer is signed by seller...if approved by buyer we will deposit funds in escrow. It's safe and works. I'm from Laguna as well. Hope this helps, Matt LasVegasMatt@gmail.com
2 votes
Robert Adams, Agent, Henderson, NV
Tue Feb 25, 2014
Some deals are unable to be shown prior to submitting offers. This is called writing an offer contingent upon inspection. Most deals are not done this way but there is nothing wrong with doing it that way unless you are uncomfortable as the buyer. If you are uncomfortable doing this go after another property not requiring it.

From the listing agent's point of view I would prefer that the buyer sees the property prior to me taking the home off the market.

Best Regards,
Robert Adams
Dual Licensed Real Estate Broker NV#62827 MA#9530304

NV Broker & Team Leader of The Adams Team at Rothwell Gornt Companies
1 vote
Robert Adams, Agent, Henderson, NV
Thu Mar 20, 2014
Are you still house hunting? Let me know if I can be of any assistance.
0 votes
Angela Brass…, Agent, Las Vegas, NV
Wed Mar 19, 2014
This is not always the case. It all depends on the owner and the listing agent. I just sold a vacant home for $150,000 in which all buyers were allowed entry prior to offers.

Angela Brasser
(702) 460-2515
0 votes
Myra Gouger, Agent, Las Vegas, NV
Sat Mar 15, 2014
Yes this is the way it is. Unfortunately low priced homes (those under $200,000) have a lot of investors wanting those homes. Hence, they go very quickly. Don't give up! Just work with a realtor you like and make sure they know your specs and criteria and you will get your property. Sometimes it takes many offers until you get one home.
0 votes
Graham Pette…, Agent, Framingham, MA
Sat Mar 15, 2014
Be sure to check with a local realtor if you are not from that area contact your realtor in your area to research and find the best agent for you.
0 votes
Chad Roberts, Agent, Henderson, NV
Sat Mar 15, 2014
It is a competitive market here and it is a new concept for people who are new to the Las Vegas & Henderson, NV market. At times, offers are made without seeing the properties due to list price. In addition, many out of state/out of the country buyers will elect to have their realtor send specs, video' and put in an offer without physically being here.

Chad Roberts
Realty One Group
0 votes
David Cooper, Agent, Los Angeles, CA
Sat Mar 15, 2014
Can you give me more specifics on the "low priced" home. It's almost impossible to give sound suggestions because every situation is different. There is a solution to every problem, but I need to know exactly what is the proble

David Cooper Finding Good Foreclosure Deals Since 1994
READ MORE http://www.lasvegaswinner.org or CALL 1.888.616.6226
0 votes
Josh Barnett, Agent, Chandler, OK
Sat Mar 15, 2014
Offer them 1 dollar, they didn't say how much you had to offer.
0 votes
Sounds like a waste of time. Submit a valid offer or move on.
Flag Thu Mar 20, 2014
Renee Burrows, Agent, Las Vegas, NV
Sat Mar 15, 2014
Many of these homes are subject to interior inspection as they are tenant occupied. It depends on individual properties however most of the lower priced properties have these instructions.
0 votes
Angela Adams, Agent, Henderson, NV
Fri Mar 14, 2014
have you found a buyer's agent to work with ? I would be happy to assist you! http://www.lvrealestatehelp.com/buying-real-estate.html
0 votes
David Cooper, Agent, Los Angeles, CA
Sun Feb 23, 2014
What price is your "low priced home"? Las Vegas is a very competetive market for attractivley priced properties. If you are looking for cash flow, not all low priced homes make good investments

David Cooper. Finding You Good Deals Since 1994
READ MORE http://www.lasvegaswinner.org
0 votes
Diann Tonnes…, Agent, Las Vegas, NV
Sun Feb 23, 2014
Hi Daisy,

It is very common in Las Vegas to put in an offer "sight unseen," especially for lower priced properties. This is particularly true if you are not in Las Vegas and unable to run out to view them as soon as they are listed. As other agents have already pointed out, the competition is fierce in the lower price ranges, and there are usually multiple offers that go over list price. Quite often we take videos of the properties and send them off to our buyers so that at least they have a better idea of what they are getting into. The offers are then made contingent on viewing the property and doing inspections.

If you have a budget you need to stay within, it would be wise to consider properties that are listed slightly lower than your maximum as you may need to bid over list price to secure a particular property. Have you been set up on automatic updates so that you receive listings the moment new properties go on the market? You should also get a market analysis on those properties so that you know a good deal and are ready to jump on it as soon as it becomes available.

To get the newest listings as soon as they come on the market, go to: http://www.greatlasvegashomes.com/home-finder.php

In addition, we do have access to prelist properties that are not yet on the MLS.

Hope this helps!

Diann Tonnesen
Prudential Americana Group Realtors

The Tonnesen Team - with over 30 years of experience helping families call Las Vegas "home!"
0 votes
XtremeRealt…, Agent, Las Vegas, NV
Sat Feb 22, 2014
The only time you want to consider making an offer with the contingency of viewing after is when there is a tenant in place and the owner doesn't want the tenant disturbed.
0 votes
Damon Bottic…, Agent, Las Vegas, NV
Sat Feb 22, 2014
There are many instances where it makes sense to make the offer subject to inspection and view the property after the offer is accepted.

A few reasons might be:
1. Investment property - it's all about the numbers anyway
2. buyer wants to low ball - doesn't make sense to spend time making appointments and viewing dozens of properties with little to no chance of getting an accepted offer
3. Tenant occupied or other showing restrictions
4. buyer is not local or has a busy schedule - bargain prices move property quickly, so no time wait days for a buyer to see the property before making an offer.

Those are just a few possible reasons, but if you're not comfortable or don't understand why an agent is suggesting this tactic, then ask for an explanation. You certainly deserve to know why the agent believes that is the best way to take the suggested approach.
0 votes
Rena Levy, Agent, Las Vegas, NV
Sat Feb 22, 2014
Las Vegas has experienced a wave of investors from all the world buying investment properties for low prices. This caused a shortage of supplies for homes under $ 150,000 and a high demand.
In many cases, some buyers are instructing their real estate agents to submit offers first without seeing the properties subject to inspections.
That dose not mean that this is how things work in Las Vegas, it is simply a supply and demand . You can choose to work with a buyer's agent that will be on top of the inventory and will will alert you immediately of any new listing for sale including trustee, auctions and for sale by owners, so you can view the property before writing an offer.
If you want results, I would recommend setting up an appt with a knowledgeable agent that will provide you with an updated market condition reports by areas and zip codes and be willing to sign a broker's agreement to allow this agent to work for you!

Rena Levy
Global Broker/Associate
702-612-7099 cvegashomes@gmail.com
Web Reference:  http://www.cvegashomes.com
0 votes
David Cooper, Agent, Los Angeles, CA
Sat Feb 22, 2014
I think the agent might be asking you to "show me the money". I need to see the cash is liquid and available so the offer is really "all cash". Protects the seller and the agent if the property is getting a lot of attention

David Cooper Finding You Good Deals for 20 Years
READ MORE http://www.lasvegaqswinner.org
0 votes
John Achrem, Agent, Henderson, NV
Sat Feb 22, 2014
Sounds like you need someone who can work with you and explain things more clearly. There are plenty of opportunities for you. I would be happy to earn your business. 702 521 3349 when you're ready to talk. Kind regards, John Achrem Agent with Desert City Realty.
0 votes
Donald Frant…, Home Owner, Las Vegas, NV
Sat Feb 22, 2014
House or condo? I have a fully furnished and well appointed 2/1 1.5 miles west of the strip for $85990. Property has 5 pools, 3 clubhouses, 2 tennis courts, and lots of parking. Email me if this interests you. It For Sale By Owner.
Thanks in advance,
0 votes
Joanna McPar…, Agent, Las Vegas, NV
Sat Feb 22, 2014
Homes under a certain dollar amount usually have a tenant in them - sometimes the tenant will show the home - sometimes the seller does not want the tenant to know - so an offer is made subject to inspections.
If you see the home after and do not like it you can cancel your offer. You are protected during your due-diligence period.
0 votes
David Rubing…, Agent, Las Vegas, NV
Sat Feb 22, 2014
The previous answers hold a lot of truth. I will add one more thought. Low priced properties also come with a lot of competition and may require writing several purchase agreements to finally win one of them. It is a matter of compensation. Low price properties tend to have multiple offers and also pay a low amount of commission. It is easier to sell a high dollar property and make a $10,000 - $12,000 commission or a $75,000 property to make a $2,250 commission. Do the math. Also that is before expenses. The office takes its share and time, gas, etc.

In some cases you can have a buyer's broker agreement where you pay your agent a fee to do the research, write the offer and complete all inspections (which they should do on ALL transactions.) The bottom line is the bottom line. Do you want to work for $2.50 per hour or $100.00 per hour. The per hour rates are estimated. But to do a really good job it takes more than showing a house and writing a form.

I hope that helps. Let me know if I can be of further assistance.

0 votes
Myra Gouger, Agent, Las Vegas, NV
Sat Feb 22, 2014
Some properties have tenants living there and the seller only wants to disturb them once. Vegas is a hot market. Low priced properties don't stay on the market very long. Make your offer subject to a home inspection.
0 votes
dawn lane, Agent, Las Vegas, NV
Sat Feb 22, 2014
For some properties yes . A lot of them need appointments and the agents never call you back because they want to double end the deal . Cash is no longer king . Inventories are low so I'd advise that you don't try to lowball. Additionally , it doesn't matter if you make an offer without seeing the inside of the property . You can always put a contingency in the offer that you have 24hours to look at the property after the seller accepts your offer.you haven't put any money down all you have invested is your signature on a proposed agreement . Unfortunately , Las Vegas is a unique animal that has gotten out if control . Sorry for your frustration.
0 votes
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