Sena and Associates with North American Realty of Nevada currently has over 30 properties in the Las Vegas Valley listed as short sales, with approximately 40% of those under contract and in short sale negotiations with the lien holding banks.
Having an experienced Las Vegas Real Estate Agent assist you in the short sale process is crucial. Nevada is a “deficiency” State, meaning they have recourse to pursue unpaid mortgage debt once a property has foreclosed or sold as a short sale. You need to know what the banks options are and how to approach them prior to completing a short sale.
Completing a short sale takes more than just finding a willing buyer. You need to know the facts regarding short sales and the implications to your credit, potential legal action and tax ramifications. An experienced Realtor will not only help with the real estate aspects, but urge you to seek competent professionals to assist with your tax and legal questions.
Call us at 702-376-0088 if you are considering selling your home or if you have any questions about the short sale process. For more information on the short sale process, check out our “Frequently Asked Short Sale Questions“.