With the advent of the Foreclosure crisis has come some new ways of doing business. As a Las Vegas Realtor, I deal with this daily and my clients are often baffled by the changes and it is an upsetting situation which gives the buyers little control over the transaction. The banks are choosing the title/escrow company and many times requiring a pre approval through their choice of lenders.
While the title/escrow companies are non biased third parties, I can safely say that the level of service has deteriorated. Just getting many title companies to return phone calls is frustrating at best. When you compound this with the inability to receive an answer from a bank on an offer for days/weeks, the buying process for las vegas real estate has become difficult.
Recently another issue has come up in the bank owned properties. The banks are hiring companies to take care of the maintenance, but the vendors often time are not completing the job. I just sold a two bed/two bath/two car garage home which has a log showing cleaning on a regular basis. As an owner of a Las Vegas Maid Service, I can tell you, that this home was filthy. The funniest part was the paper showed that the fan and blinds had been dusted, days before our home inspection, but they had over an inch of dust accumulated.
This is a weird time in Real Estate, so use a professional and be patient to get a great deal.