What Every Las Vegas Short Sale Seller Should Know about Costs

In the Las Vegas Short Sale market there are several costs that a seller should be aware that he or she might have to pay in order to successfully close the short sale transaction.

These costs will be above and beyond the “deficiency“  that the bank may want you to pay and any third party negotiating fees.

If you live in a neighborhood with a Homeowner’s Association (HOA), you will want to keep your monthly dues up to date to avoid late fees and fines. You will also want to maintain your landscaping which will include water and electric for the same reason – to avoid costly fines.  Also, there will be a cost of the HOA documents that you are required in the state of Nevada to provide to the Buyer. The fee is mandated not to exceed $160.00 plus copy fees.  And most Real Estate companies will charge a Broker Administrative Fee (BAC) which will range from $350.00 up to $600.00 depending on the company.

You will also want to  make sure that your homeowners insurance is current, this can be done by contacting your insurance company. Be aware that many insurance companies will not insure a vacant home after a certain period of time, usually 30 days. There may be additional fees associated with your short sale, please check with your Certified Short Sale Professional for more details.

Kathryn Bovard is a Certified Short Sale Professional and experienced with the often lengthy and stressful Las Vegas short sale process.   If you are contemplating a  Las Vegas short sale , she can assist and navigate you through the entire process.

Call Kathryn direct at 702-348-7191 to schedule a short sale consultation today.

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2. Protecting the Short Sale Seller in the Purchase Agreement
3. Short Sale Your Home: A Seller’s Real Estate Guide – Tip #1 Organize the Basics