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Home Selling in Nevada : Real Estate Advice

  • All107
  • Local Info6
  • Home Buying65
  • Home Selling16
  • Market Conditions1

Activity 432
Fri Mar 20, 2015
Alan May answered:
Earnest money is given to show that the buyer is, indeed, earnest in his desire to purchase the home.

The more earnest money you have on deposit, the less likely the buyer is to breach his/her contract to purchase. While there are a number of ways to cancel the contract and get the earnest money back. If the buyer simply decides to walk away, that e.m. is at risk.

Technically, however, a contract requires "consideration" to be valid... and yes, $1.00 counts as consideration.

Personally, if I were the seller, a single dollar as e.m. would be a large red-flag, and I would not consider an offer with e.m. that low. But keep in mind that trades and customs are different in different regions, and it's very possible that's the norm in Henderson.
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Sun Mar 8, 2015
Angela Adams answered:
Granite has been very popular for over a decade. Robert is correct below luxury home buyers are beginning to look for new luxury materials for counter tops now.
1 vote 29 answers Share Flag
Sun Mar 8, 2015
Robert Adams answered:
Are you asking this as a seller or as an agent? I would think this question would be coming from a home owner but your profile says you are an agent. Maybe this is for the Agent to Agent section? ... more
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Thu Mar 5, 2015
Team Tiffee answered:
this is an old post but i get these questions all the time with the great expansion of the internet.

1. Competent Real Estate Agent who has the tools and resources and tools available to him and they know how to use them.

2. Seller Due Diligence

3. CMA and good ol' research and homework

The internet sights will never be as up to date or accurate as a local experienced agent who is willing to work hard for you.

Let me know if you have more questions or need some expert assistance.

Craig Tiffee
Real Estate Masters, LLC.
TCM Law Group
(702) 785-8240
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0 votes 10 answers Share Flag
Tue Mar 3, 2015
Robert Adams answered:
I would highly recommend using a knowledgeable Realtor. Between knowing how to market your property so it receives maximum exposure, negotiating terms, and making sure you have the proper documentation and disclosures to limit your risk an agent can be well worth their commissions.

I would be glad to give you a free no obligation listing appointment and provide you with a free Comparative Market Analysis so you have an accurate comp value of your home.

Please let me know if I can be of any assistance. (In regards to uploading a listing on Trulia do it through postlets and it will syndicate to Trulia as well as lots of other sites.)

I look forward to hearing from you.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies

"CONNECT" on LinkedIn:

"LIKE" on FaceBook:

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Tue Mar 3, 2015
Dale Snyder answered:
What is the home worth?

Are there any unpaid fees or debt that have caused any liens to be put on the property?

Can we visit the property at different times in the day? Morning, afternoon, evening, night!

Do you work solo or as part of a team? Full time?

Do you have a web presence?

What designations do you hold?

How will you keep me informed about the progress of my transaction? How frequently?

Why should I hire you over your competition?

Can you explain the buying/selling process to me start to finish?

May I see the documents I will have to sign?

What haven't I asked that I need to know?
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0 votes 11 answers Share Flag
Fri Feb 27, 2015
Crisann Conroy answered:
Please check out my profile, I work with many sellers, and due to extensive advertising and open houses, I often bring the buyer to the table and pass on a 2% commission savings to the seller.

This is an example of one of my listings hitting the market next week.

Professional photographers and video tours make all the difference in this market.
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2 votes 3 answers Share Flag
Sun Feb 22, 2015
Jeff & Nancy Hauth answered:
You can also use the Washoe County assessor web page to do your own research.
0 votes 1 answer Share Flag
Mon Feb 9, 2015
Robin Fraser answered:
0 votes 15 answers Share Flag
Wed Jan 28, 2015
Gene answered:
As a private real estate investor in BHC AZ, I utilize RE agents as well as FSBO. When searching for property being sold by owner, my first choice is craigslist and then my second choice is the local newspaper (Mohave Daily News) for the Dolan Springs area. Buying or selling without an agent is not difficult...if you have some experience doing so. Since I bought my first property in 1964 when I got my US Army discharge, I bought and sold many homes without an agent. HOWEVER, if you do not have much experience in real estate transactions, I might suggest using an agent and pay the commissions/fees. Whatever you decide, Good Luck. ... more
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Tue Jan 13, 2015
Earl Correll asked:
0 votes 0 Answers Share Flag
Sun Jan 4, 2015
David Cooper answered:
Call the lender's BK department. They are youir best source for an accurate answer
0 votes 4 answers Share Flag
Tue Dec 16, 2014
Chad Roberts answered:
One thing I stress to sellers is to have it in show condition. Staging can attract more buyers and ultimately sell a home.

Chad Roberts
Realty One Group ... more
0 votes 5 answers Share Flag
Mon Dec 15, 2014
Faith Harmer answered:
You could be running some risk. I would contact a Real Estate Attorney to draft up a Contract. It's a very risky proposal.
0 votes 10 answers Share Flag
Wed Dec 10, 2014
Gary Geer answered:
You need legal advice. We are agents and can not give legal advice. Contact a Real Estate Attorney to get the answer you need.
0 votes 4 answers Share Flag
Wed Dec 10, 2014
Faith Harmer answered:
Everyone's situation is different. You need to sit down with an experienced Realtor to get more details.
0 votes 11 answers Share Flag
Mon Dec 8, 2014
Jim Olive answered:
Jennifer has left the building....
0 votes 20 answers Share Flag
Thu Dec 4, 2014
Rose Wilkinson answered:
There is no way to keep your profit margins private when doing an assignment of contract. Essentially, your assignee is "stepping into your shoes" and agreeing to the price and terms of the contract you are assigning. This would require full disclosure of the purchase price and the terms.

If you are making a hefty profit, consider doing what is known as a "double close." There are hundreds of companies online who offer transactional funding - which does not require a credit, employment or background check.

Essentially, these investors look to lend you same day funds to purchase the property and turn around and sell it the very same day to your end buyer. Usually, the fees for these funds range from 2 to 3 percent based on what YOUR sales price is, not the buyers.

For example, let's say you have a house under contract for $100,000 and you have a buyer lined up for $130,000. If you were to utilize transactional funds at 2 points, you would pay $2,000 dollars to borrow $100,000 for one hour. This would come out of the closing proceeds, not out of pocket.

No assignee would offer to pay you a $30,000 assignment fee. They would try to negotiate you down to making a few thousand dollars. I only do assignment of contracts when I stand to make $3,000 to $5,000 only.

Google "transactional funds" for a list of these companies. I hope this helps. Make sure you are making enough profit to justify the service.
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Thu Dec 4, 2014
Rose Wilkinson answered:
Usually, I will only do an assignment of contract if my assignment fee is $3,000 or less.

When you start getting into profit margins of $5,000... $10,000... $15,000... your assignee may try to negotiate your fee down quite a bit, because they see that you are making "so much money" off of one wholesale deal. Of course, they don't think about the thousands of postcards you have sent out, all of the wild goose chases, and the 100+ calls you've had to screen just to get this one golden egg. They usually just see this as "one deal" and view you as taking advantage of them.

If the profit margin is above $3,000... I usually do what is called a double close. What you will need is "transactional funds." You can Google "Transactional Funds" and a whole slew of companies will come up that offer this service. Basically, you borrow the money for the same day of closing to purchase the property. You have a whole separate HUD sheet as if you purchased the property. Then you turn around and sell it to the end buyer and have yet another whole separate HUD sheet. This keeps your profit margins more private.

Usually, transactional funds will charge you 2 to 3 points on the total amount you are borrowing to buy it for. For example, if you were purchasing the property for $100,000 and selling it for $130,000... you would be charged 2 points... or $2,000 dollars for borrowing $100,000 to sell it for $130,000.

You don't need credit, employment or background check for transactional funds since you only borrow the money for one hour to sell it to an end buyer.

This is the best way to insure privacy on financial matters like this.
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