Purchasing a home in Las Vegas
Purchasing a home is an intimidating event for many people, but it isn't that difficult with a bit of up-front planning.
So you know exactly what to expect, we like to provide our buyers with a road map of the whole deal.
Here are our nine steps to buying a home.
Should you have questions about this information or if you're ready to get started, just contact us here or send e-mail to firstname.lastname@example.org
Step 1 – Prepare to buy a home
There are a lot of things you need to do before you start looking for a home.
It's likely that you'll want to form a check list of features you want to have, plan for what neighborhoods you'd like to live in, and begin planning your budget.
A good principle to follow is that your mortgage payment should be close to 1/3 of your net monthly income.
Step 2 – Speak with a real estate agent
This is where we come in.
We'd love to schedule a time to meet with you and speak with you about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, school districts in the Las Vegas area, the mortgage industry, and any additional economic factors that may affect your buying decision today or in the future.
In addition, we'll help you get started on your loan.
There are some excellent mortgage professionals in Las Vegas, and we partner with a lot of them, so you can rest assured that you're in great hands.
They can help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start house-hunting
Following our initial meeting, we'll begin looking for available homes on the market that suit your needs.
We'll research many of the houses and eliminate the duds, and then we'll set up appointments to view the homes whenever it's most convenient for you.
When we tour the houses, we'll call attention to positive features and negative ones. And we'll ask you to point out what things you like and don't like.
Usually, buyers amend their must-have list as we tour homes and some features become more crucial than others.
If that's the case, we'll look through all the listings once again and trim it down to the home of your dreams.
Step 4 – Get a grasp of the market
An agent's understanding of the Las Vegas housing market is an imperative factor in your home search. And we assure you we're well-versed in all the school districts and neighborhoods, and we will communicate what areas are "hot" and call for prompt action and the ones that are "cold" and allow for more analysis.
When we tour houses, we'll be sure to tell you when the list price has room for negotiation and when we believe the house is "priced to sell."
Every REALTOR® will tell you they truly understand the housing market, but be wary, and make sure you ask your agent lots of questions.
If it seems like they don't know everything, just call us at 702-245-9218 or e-mail us at email@example.com, and we'd be more than happy to answer any questions you might have. Our knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house of your dreams
We're positive we'll find your dream home in the Las Vegas area, and when we do, we'll meticulously develop your purchase offer. The offer will be made keeping your needs in mind. Whenever necessary, We never forget to make contracts contingent upon items like your ability to secure financing and the results of the home inspection.
Upon sending in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to a home seller to secure an offer to purchase the property, and it's often put towards the closing costs. If the seller accepts the offer, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer, and it's pretty common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or reject the seller's offer and move on.
The state of the market will play a role in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a contract that is best for you.
Step 7 – Get financing
Once the deal is signed, you'll begin working with your lender to close the loan.
This won't be a long process at all if you've been pre-qualified, but you should to keep in close contact with your lender.
And we'll manage all the property information your lender needs to close the loan.>
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of receiving your application.
The estimate is formed from the loan amount. RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy, and we'll study the estimate and let you know if it all looks good.
Then we'll close on your house. This will probably happen at a title company or escrow office and will probably be a smooth and easygoing event.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you contact us at 702-245-9218 or send us an e-mail.