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Las Vegas : Real Estate Advice

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  • Home Buying1K
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Activity 3,809
Earlier today
Densilucy answered:
With a "Owner Will Carry", the owner is willing to finance the home purchase for you, if you qualify, probably for above market interest rate.

The terms are between the owner and the buyer, but usually the owner is the one who dictates the terms.

For these type of deals, the owner may insist on a substantial down payment, say 20% or more. This is non-refundable if you decide not to purchase down the line.

The interest rate may also be considerably higher than market rate.

Most buyers who purchase using seller financing than seeking a conventional home loan financing have credit issues or financial hardship. Odds are when the balloon is due in 2-5 years they won't be in any better shape to get a mortgage.

In that event when the due date of the balloon comes and the buyer cannot refinance they are in default of their loan and the seller has the right to take the property back. The buyer loses everything.

In some cases, this type of financing does make sense.
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Sat Oct 21, 2017
Jay A Schwartz answered:
I have a beautiful condo for rent in Las Vegas for immediate move in Nov 2nd, 2 to 5 to 10 years lease....1400.00 monthly all stainless everything new 1183 sq ft. 3 BD 2 BATH corner quiet unit...
PLEASE HELP
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Sat Oct 21, 2017
Lori Schmerler answered:
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Thu Oct 19, 2017
Mglobalgal answered:
You got your license here in Nevada what school did you use. I just took the test for the third time used three different study schools in classes and missed over half of the questions. If you have a recommendation for school please let me know ? RENVmar@yahoo ... more
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Tue Oct 17, 2017
Sandraperkins104 asked:
can't have an independ inspect or walk through before signing . Can this possibly be legal? NV is a non attorney state retainer is very expensive
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Mon Oct 16, 2017
Olgazuleyma-1229 asked:
How can I get out of this contract, would I have to compensate the broker even if the deal doesn't go with FSBO it mentions buyer agrees to work exclusively with broker, now what happens…
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Fri Oct 13, 2017
David Peterson answered:
Good day Everyone, I am Samuel Green by name and i live in the US, i will like to talk about the goodness of God in my life, after so many months of trying to get a loan on the internet and was been scammed so many times, i became desperate in getting a loan from a legit lender online then i saw a comment from a friend called Fred Williams and he talked about this legit loan company where he got his loan fast and easy without any stress so he introduced me to a man called Mr David Peterson who controls a firm called David Peterson Loan Firm, So i applied for a loan sum of ($50,000.00) with an interest rate of 2%, so the loan was approved and deposited into my bank account that was how i was able to get my loan to keep my business running and also to pay off my bills so i am advising everyone of you who are interested in getting a loan to kindly contact them via email as davidpetersonloanfirm1@outlook.com to get any kind of loan you need today. God bless you all... ... more
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Wed Oct 11, 2017
Erin Caldas asked:
I have to move Nov 1st no evictions but we have poor credit and our income is solid. I would like an updated apartment and not over 750 a month. Please HELP!
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Tue Oct 10, 2017
Frank S. answered:
You may find it easier to qualify to buy than rent. Do the evictions show up as judgements? If so you would have to be in payment arrangements for 3 months to be able to consider FHA financing.

You may qualify FHA with fico scores from 500-579 with 10% down and minimum 580 fico score may qualify for FHA 3.5% down. Your credit scores can be raised usually within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You should study RENT vs BUY listings in Vegas to compare payments...
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Sun Oct 8, 2017
Cory answered:
You will be homeless or in a bad are the correct answers. Unless you find an individual owner to work with you. Everything else is practically impossible.
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Sat Oct 7, 2017
Kathy Burgreen answered:
In your question, you stated that when buying in this mobile home park, you will get a title or deed for the land. Typically, most mobile home parks own the land - not you. However, it is possible that you will get a title or deed for the land. I just find this difficult to believe.

Answering your question, mortgage home lenders will be able to give you a loan for the land but you will need to prove in writing (a signed statement from the park itself) that you will receive a title or deed for the land only. Once lenders see this statement from the park management, you should have no problem.

As for the mobile home itself, this is personal property - not real estate. You need a "chattel mortgage" for the mobile home. Ask several banks about "chattel mortgages".
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Sat Oct 7, 2017
Kathy Burgreen answered:
Realtors cannot answer this question because it violates Fair Housing laws. Buyers need to do their own research regarding crime, demographics, schools, etc. For crime statistics, the best thing is to visit local police departments and ask them. ... more
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Mon Oct 2, 2017
Lawrence Bucher asked:
If Buyer “B” exercises their right to Appraisal Contingency upon receiving info that Seller “A” appraisal came in below their (actual list) price, can Seller “A” pull deal upon…
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Sun Oct 1, 2017
Dennis Shufflin answered:
Las Vegas Metro police dept maintains an up to date crime map, you can filter your search in myriad ways and you can zoom in to see any size area you want.
https://www.crimemapping.com/map/nv/lasvegas ... more
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Sun Oct 1, 2017
Dennis Shufflin asked:
Mature, friendly non-smoker with no bad habits or pets. Handyman/carpenter with tools. Apple computer expert. Very good with animals and gardening.

Looking for a quiet clean rental. Would…
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Fri Sep 29, 2017
Deanna Malone answered:
I am seeking a Section 8 Rental in Las Vegas, 2bdrm $650- $ 800.00. Oct the 9th picking up Voucher papers..I ported. I had a landlord but he gave it away I guess the porting took too long..I already turned in my 30 day notice, Now I am stuck without a Home. ... more
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Thu Sep 28, 2017
Msmaxiale asked:
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