There are tons of REO properties in the Las Vegas market and more each day.  Wanted to address some of the things I've experienced.

Seller's Pricing Strategy

• List price is an "invitation" to make an offer
• Make sure to do buyer CMA on solds only
• Example if the home is worth $200k seller is putting property on the market for $185k
• This generates a "buzz" and in most cases a multiple offer situation
• Therefore the property sells at $220k
• However there have been numerous cases of appraisal issues, so watch out

Resale Package

• Some REO sellers are requiring the buyer pay for the resale package. 
  
• This is totally legal. 
  
• Law states that seller must provide where to get these documents only.
• Therefore, prepare buyer for this cost depending how badly they want the property

Waiting on Fully Executed Contract to Open Escrow

• When there is an accepted offer, open escrow right away
• All the signatures may take a while with the seller's being multiple organizations
• Preliminary Title Reports can take time and can be ordered without all the signatures
• For example if you wait for all signatures on contract to open escrow, it may not give title sufficient time to get prelim, payoffs, etc that is necessary to close within the timeframe approved by seller.

On a side note:  Advise the listing agent of a green pool or dead grass.  Listing agents are paying contracted workers good money to maintain these properties.  They would appreciate the feedback and in-turn buyers get a nicer house.

**Interesting fact......40% chance an REO comes back on the market in multiple offer situations**

Isn't this FUN!!!!  Hope you find this info helpful, I took a class today from one of the top REO listing agents in Las Vegas.  The more we educate ourselves on what is happening in the market the more of a professional we can be for our clients.  Love, Christin