Brenda Wynn

  • Brenda Wynn

  • Realtor

  • I Strive To Give You Quality Service You Can Trust!

  • Contact Info - Tel: (702)315-7860 / Fax: (702)317-3695 / Dir: (702)575-5215 / email me

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Brenda Wynn
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Las Vegas Auctions 
See how you can get very good deals! Because the sellers are highly motivated and willing to accept low, low auction prices, you'll soon see how easy it is to get a great deal!

Las Vegas Auction Process

Find a property in your desirable area of Las Vegas. Visit the open house dates to preview the properties. If you are not a cash buyer, you will need to Pre-qualify with the auction's preferred lender. Even, if you have a pre-approval with your own lender. Prepare for the Auction. Have your list of homes "your wish list" you plan to bid on, picture ID, social security number, proof of certified funds "cash" or cashiers check for the deposit required to make a bid. Generally the deposit varies between auction companies. But, most deposit requirements are $5000.00. Bring articles of incorporation, trust documents and other proof of signing authority, if you are taking title in a company or trust name.

 

Las Vegas Auction Information

There is a buyer premium on all purchase at an auction. Be prepared to pay up to 10% of the purchase price. Example; your winning bid is $120,000.00 + 10% buyer's premium of $12,000 = $132,000 is the selling price. I've noticed in this recent market times, the buyer’s premium is down to 5% depending on the auction company.

 

Sellers provide an insurable title, with no back taxes or liens, these properties are generally sold "AS IS", you need to inspect the property prior to the auction. My suggestion after view the homes of interest, is to hire a licensed home inspector. If you are interested in bibbing on more than one home, some inspectors will give you a discount on inspecting more that one property.

 

Most auctions are absolute. Meaning everything will sell with no reserve. However, most banks owned property auctions do have a reserve amount. What this means to you is if your winning bid did not meet the sellers reserve amount on the property. The seller can take about 7 to 10 days to review your winning bid. 

 

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Brenda Wynn
  • Green Valley - Prudential Americana Group Realtors
  • 871 Coronado Center Dr Suite 100
  • Henderson, NV 89052
  • Tel:  (702)315-7860
  • Fax: (702)317-3695
  • Dir:  (702)575-5215
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