Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-27-2009, 12:19 PM
 
Location: Portland, OR / Las Vegas, NV
1,818 posts, read 3,837,108 times
Reputation: 985

Advertisements

I know this is a little old but I just joined. I have an offer in on unit 1134. Should I be rethinking this? The list price is only $35K.
Reply With Quote Quick reply to this message

 
Old 10-27-2009, 01:03 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
Reputation: 2661
Quote:
Originally Posted by bledsoe3 View Post
I know this is a little old but I just joined. I have an offer in on unit 1134. Should I be rethinking this? The list price is only $35K.

Place has been around since May. Was off the market much of the summer on T status. Listing says new carpet and paint.

One possiblity is they fixed something that happened. Another is that it was trashed and they did a dollup that took a while.

It may also be a comeon...the listing broker is known to do that and get 25 offers on the place. They are offering higher agent compensation than normal.

Cash only listing with defect litigation.

I would be cautious were I you...
Reply With Quote Quick reply to this message
 
Old 10-27-2009, 05:29 PM
 
Location: Portland, OR / Las Vegas, NV
1,818 posts, read 3,837,108 times
Reputation: 985
Thanks for the quick response. What is T status and defect litigation?

I'm from out of state and not to familar with purchasing a vacation home. Obviously I'm on a budget our I'd be looking for a higher priced place. I'm flying down Saturday to check it and others out. Any suggestions?
Reply With Quote Quick reply to this message
 
Old 10-27-2009, 05:45 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
Reputation: 2661
Quote:
Originally Posted by bledsoe3 View Post
Thanks for the quick response. What is T status and defect litigation?

I'm from out of state and not to familar with purchasing a vacation home. Obviously I'm on a budget our I'd be looking for a higher priced place. I'm flying down Saturday to check it and others out. Any suggestions?
T status is temporarily off the market.

Defect litigation says the builder/developer is being sued by tenants or the association for defects in the place.
Reply With Quote Quick reply to this message
 
Old 10-27-2009, 06:22 PM
 
Location: Portland, OR / Las Vegas, NV
1,818 posts, read 3,837,108 times
Reputation: 985
Thanks again. Maybe I should reconsider.

P.S. How do you find all this information. I would like to do some research before I get there this weekend.
Reply With Quote Quick reply to this message
 
Old 10-27-2009, 06:46 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,995,060 times
Reputation: 5057
Quote:
Originally Posted by bledsoe3 View Post
Thanks again. Maybe I should reconsider.

P.S. How do you find all this information. I would like to do some research before I get there this weekend.
simple, get a knowledgeable realtor
Reply With Quote Quick reply to this message
 
Old 10-28-2009, 02:12 AM
 
2 posts, read 3,639 times
Reputation: 10
Default Buyers beware!

Quote:
Originally Posted by airics View Post
simple, get a knowledgeable realtor
It's more a matter of a honest realtor.I was just starting my first day of escrow and I asked my realtor for the phone # of the HOA. Even though the HOA wouldn't tell me the specifics,I found out there was a pending litigation on the property and I backed out of that deal real fast.I was paying cash & found out a bank won't finance anything with litigation.
I didn't find out until later that at the very bottom of the MLS, it did say "Litigation Pending" Both the Listing agent & the Selling agent(my agent) knew this.That's so crooked! The Selling agent was telling me 9 out of 10 condo's have pending litigation.She said it was like,lawyers chasing ambulances.I don't believe that!

That's too bad because it was a beautiful 2005 condo at 9303 Gilcrease Ave.89149.
Can anybody tell me where I can call or what website I can go to ahead of time,to find this out. Thanks!
Reply With Quote Quick reply to this message
 
Old 10-28-2009, 08:48 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
Reputation: 2661
Quote:
Originally Posted by brutusl View Post
It's more a matter of a honest realtor.I was just starting my first day of escrow and I asked my realtor for the phone # of the HOA. Even though the HOA wouldn't tell me the specifics,I found out there was a pending litigation on the property and I backed out of that deal real fast.I was paying cash & found out a bank won't finance anything with litigation.
I didn't find out until later that at the very bottom of the MLS, it did say "Litigation Pending" Both the Listing agent & the Selling agent(my agent) knew this.That's so crooked! The Selling agent was telling me 9 out of 10 condo's have pending litigation.She said it was like,lawyers chasing ambulances.I don't believe that!

That's too bad because it was a beautiful 2005 condo at 9303 Gilcrease Ave.89149.
Can anybody tell me where I can call or what website I can go to ahead of time,to find this out. Thanks!
Just carelessness. The agents know you can't buy the condo if it is blacklisted and you need to finance.. YOu may find it close to impossible to find a low end condo you can buy. The statistics have a very high cash percentage.

I know of no clearing house for the information. In fact the best source I know of is the MLS. You can find these actions in district court but you need to know the name of the HOA to do that.
Reply With Quote Quick reply to this message
 
Old 10-28-2009, 09:25 AM
 
Location: Portland, OR / Las Vegas, NV
1,818 posts, read 3,837,108 times
Reputation: 985
Quote:
Originally Posted by brutusl View Post
Even though the HOA wouldn't tell me the specifics,I found out there was a pending litigation on the property and I backed out of that deal real fast.I
Did the HOA tell you there was litigation? I have phone numbers of all the HOA's of the properties I plan to look at. After this thread I plan to call them all.
Reply With Quote Quick reply to this message
 
Old 10-28-2009, 09:50 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
Reputation: 2661
Quote:
Originally Posted by bledsoe3 View Post
Did the HOA tell you there was litigation? I have phone numbers of all the HOA's of the properties I plan to look at. After this thread I plan to call them all.

Let us know how you do. They have no requirement to respond to you by the way and may not. Some HOAs will talk only to owners. Some HOAs don't talk to anyone. Note that it is the owner who is required to tell you of litigation...except that it is not clear a REO owner has any such requirement. Mostly the RE Agents provide the information.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
Similar Threads
View detailed profiles of:

All times are GMT -6. The time now is 04:44 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top