Buying or selling a home?

For most people, buying a home can be a stressful event. However, with a bit of planning ahead of time, it isn't very confusing. I like to supply buyers with an overview of the whole deal so they'll understand exactly what they can expect. Here are my nine steps to buying a home.

Step 1 – Get ready to buy a home
Before you start your home search, there are many things you'll want to do. You'll probably want to assemble an outline of items you need to have, get a feel for what school districts and neighborhoods you want to live in, and begin planning around your budget. Ensuring your mortgage payment is no more than a third of your monthly income is a good rule of thumb to go by.

Step 2 – Communicate with a real estate agent
This is where I can help. I'd be happy to book a time to get together with you and talk about your real estate needs and get an idea of your upcoming plans. We'll discuss the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Las Vegas area.

I can also help you begin the loan process. There are some excellent mortgage professionals in Las Vegas, and I partner with a lot of them, so you can rest assured that you're in great hands. They will assist you in figuring out which type of loan is best for you and help you get qualified.

Step 3 – Start looking for a house
After our first meeting, I'll begin looking for houses on the market that meet your needs. I'll get a sneak peek of many of the houses and eliminate the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.

When we tour homes, I'll identify good features, as well as bad ones. I'll also ask you what things you like and don't like. For the most part, buyers update their wish list as we tour houses and some things become more necessary than others. If such is the case, I'll search all the listings once again and narrow it down to the house you've been waiting for.

Step 4 – Get a grasp of the market
My knowledge of the Las Vegas housing market is an essential benefit in your house search. I'm acquainted with all the neighborhoods and school districts, and I can alert you to certain areas are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful analysis.

As we view houses, I'll be sure to tell you when the asking price has room for bargaining and when I believe the house is "priced to sell." Every REALTOR^® will claim to truly know the home market, but be mindful, and be sure to ask a lot of questions. If it doesn't seem like they know everything, contact me at (702) 873-0440 or e-mail me at mortgage11@re-consumer.com, and I'll be happy to answer your questions. My understanding of the market will help you stay a step ahead through the entire deal.

Step 5 – Find the house of your dreams
I'm certain we'll find your dream home in the Las Vegas area. When that happens, I'll thoroughly create your real estate purchase offer. The offer will be tailored keeping your needs in mind, including many contingencies. A few examples are acquiring financing, carrying out the home inspection, and a clear title.

Upon turning in your offer, most likely you'll want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property and is typically put towards the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows necessary time for your mortgage financing.

Step 6 – Negotiate
Most contracts aren't closed on the beginning offer, and it's very common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the deal depends on market conditions. We'll also work within your financing limits. And at the end of the day, we'll create a deal that's best for you.

Step 7 – Secure financing
After the deal is finished, you'll start working with your lender to close the loan. If you're pre-qualified, this won't be a long process at all, but you need to keep in close contact with your mortgage lender. And I'll take care of all the property information your lender will need to close the loan.>

Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing closing costs from your lender within three days of taking your loan application. The estimate depends on the loan amount. RESPA requirements mandate that it has to contain all closing costs and be within a tight range of accuracy, and I'll review the estimate and let you know if everything looks good.

Then we'll close on your home. This will most likely occur at a title company or escrow office and will probably be a smooth and pleasant occurrence.

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 me at (702) 873-0440 or send me an e-mail.