Las Vegas Short Sale Condos

What is a Short Sale Condo?

Sometimes, to avoid a foreclosure, banks will let owners sell their condo for less than they owe. The bank takes the proceeds of the sale and allows title of the property to transfer to the buyer. The seller is not always off the hook though, as the bank can still hold them liable for the difference. The bank has the final say about whether or not they will accept an offer on the property; the seller cannot make that decision. That's why you'll often see verbiage like "Short sale - subject to lender approval" in the property description. These closings can take a while, but if buyers are patient they can purchase these condos for a fair market price.

Available Short Sale Condos in Las Vegas

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