Las Vegas Real Estate For Dummies
Unless you’re an investor in Las Vegas real estate or a realtor, you probably have no idea what the difference is between a short sale and a foreclosure. It’s not that complicated, though. A short sale is basically selling the house for A LOT less than what it’s worth. Kinda like pawning! Only, it’s a little less sleazy and most banks welcome some deal that gets them off the hook. A foreclosure on the other hand, is more like an old school mob deal; basically when you tick the bank off for not paying your bills, they’ll get fed up and take the house back, kicking you and your family to the curb. Neither situation is ideal for the bank, but if you play your cards right, these types of sales are a major bonus for the buyer. See, deals are what’s driving home sales in Vegas since many people are broke, but still want to own homes.