If you are looking for a really cheap home in Las Vegas, then purchasing a las vegas short sale is the answer you are looking for. Short sales are basically times when owners need to get out of their mortgage quickly because they cannot afford the payments and would have to foreclose if nobody buys their home. Although a short sale does damage their credit it is better than a foreclosure and leaves them in a better position with their credit for the future. The savings you can get from one of these houses is going to be extremely high in comparison with other types of homes that are just for sale by owner. The house might close really quickly, so keep in mind if you put a bid in you will be moving right away. In addition to this you might have to do some small repairs to the house.