9 Steps to Owning
With a little planning ahead of time, purchasing a home isn't all that difficult, but the event intimidates a lot of people. So you'll know exactly what to expect, I like to give my buyers a road map of the whole deal. Here are my nine steps to purchasing a home.
Step 1 – Get ready to buy
There are a lot of things you'll want to contemplate before you start looking for a home. You'll want to form an outline of features you need, get a feeling for what neighborhoods you'd like to live in, and begin working on your budget. Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good principle to adhere to.
Step 2 – Communicate with a real estate agent in Las Vegas
This is where I can help. I'd love to schedule a time to get together with you and communicate with you about why you want to buy a home and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the Las Vegas area, the mortgage industry, to any other economic factors that could affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan. I work with some of Las Vegas's best mortgage professionals, so you're in great hands. They will assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Begin house hunting
After our initial meeting, I'll begin finding available houses on the market that suit your needs. I'll preview many of the homes and exclude the duds, and then we'll schedule appointments to view the houses whenever it's most convenient for you.
 As we view homes, I'll point out positive features, as well as negative ones. And I'll ask you to point out what things you like and dislike. It's common for buyers to revise their wish list as we view houses and some items become more crucial than others. If such is the case, I'll go back through all the listings one more time and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the market
Your agent's awareness of the Las Vegas market is an essential agent in your house search. And I can assure you I'm conscious of all the neighborhoods and school districts, and I can alert you to certain areas are "hot" and call for prompt action and some that are "cold" and allow for careful examination.
When we tour homes, I'll be sure to tell you when the seller's asking price has room for bargaining and when I believe the home is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions, as every REALTOR® in Las Vegas will convince you they truly understand the housing market. If it seems like they don't know everything, just call me at (702) 688-6373 or e-mail me at steve@onelasvegas.com, and I'll be glad to answer any questions you have. My market knowledge will keep you a step above the rest through the entire deal.
Step 5 – Find the home of your dreams
I'm certain we'll find your dream home in the Las Vegas area. When we do, I'll precisely create your purchase offer. The offer will be tailored to suit your needs, including several contingencies, such as obtaining financing, carrying out the inspection, and a clear title.
 Upon presenting your offer, you'll likely need to present "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property and is most often put towards the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the beginning offer, and it's widely common to receive a counter offer. Don't let it alarm you. We'll consider whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and go on.
The state of the market will play a part in how aggressively we negotiate the deal. We'll also work within your financing limits. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Obtain a loan
Upon finishing the contract, you'll begin working with your lender to close the loan. If you're already pre-approved, it shouldn't be a long process at all. However, you'll want to keep in close contact with your mortgage lender. And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) of closing costs from your mortgage lender within three days of receiving your loan application. This estimate is formed from the loan amount. RESPA requirements require that it has to involve all closing costs and be within a precise range of accuracy, and I'll analyze the estimate and let you know if it all looks okay.
Then we'll close on your house. This will most likely occur at a title company or escrow office and is often a smooth and easygoing occasion.
Step 9 – Move in
Success! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at (702) 688-6373 or send me an e-mail.
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