Las Vegas REO
REO is an acronym for “Real Estate Owned” – in practicality it means a bank or financial institution receives a property deed to a home through the foreclosure process; i.e. no one showed up at the courthouse steps to bid a minimum amount of the existing mortgage after the homeowner walked away from the mortgage. Please refer to our Las Vegas REO FAQ Page for more details on this process.
Why a Las Vegas REO is an excellent deal
- The bank does not want to carry an REO home on their books any longer than possible. There is some pressure on the bank to sell the home and get it off their books. They may list it at a reduced price to drive a quick sale.
- Bank owned homes are usually sold way below market prices, with great terms like low down payments and low interest rates.
- Since the seller of an REO property is almost always the lender, you can negotiate directly with the bank to have them pay all or part of the closing costs.
- REOs are usually vacant - the bank has evicted the previous owner, saving you the investor time and emotional baggage involved in the eviction process.
- You typically have the ability to inspect a Las Vegas REO home versus a Foreclosure – enabling you to have a sense of the condition of the home and what (if any) funds you will need to invest in the property to rent it out or resell at a later date.
Buying an REOs is a highly specialized transaction. The negotiation and closing when dealing directly with a Bank or Financial Institution can be convoluted. A Realty Executives agent can help you navigate the market and negotiate with the lender to find the best deal for you. Click here for more information.
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Kiersten Hartmann Marcos
REALTOR, CSP![SUBMIT: CSP_logo[1].jpg](http://www.kierstenmarcos.com/Docs/REA735Docs/Submit/CSP_logo[1].jpg "SUBMIT: CSP_logo[1].jpg")
Direct: (702) 303-2094
Toll Free: (800) 531-6756
Office: (702) 873-4500
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Creating a new standard in the real estate industry has always been Kiersten’s approach to client care, and her goal is to forge client relationships for life. Any agent can see you through a transaction, but it’s Kiersten’s goal to help fulfill your short- and long-term real estate goals. Whether you’re looking for the best investment opportunities, relocating, looking for a second home, upsizing, downsizing, or in need of an expert to negotiate the Short Sale of your property, Kiersten has a wealth of knowledge and resources to make it happen.
Kiersten couples her experience with an intensive knowledge of the Las Vegas real estate market, and a global business acumen. With many years working with various Fortune 500 companies and Wall Street firms as a trusted advisor, she brings an astute understanding of business practices and a refined skill in negotiating to your buying or selling transactions. This translates into a well-organized, masterfully negotiated transaction where your goals and interests are paramount.
Kiersten’s professionalism and commitment to exceptional service ensures that every aspect of your transaction is treated with the highest degree of knowledge, skill and discretion. Additionally, her associations with a vast cross-section of the best experts in the industry help ensure a smooth transaction.
Kiersten takes an intentional approach to marketing your property with a plan that includes a customized combination of internet marketing, vitual tours, blogging, print media, social networking, and a highly developed network of client investors.
“I welcome the opportunity to earn your trust and exceed your expectations.”
- Kiersten Marcos
