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Finding a home in Las Vegas

Friday, August 19, 2016   /   by Lisa Holmquist

Finding a home in Las Vegas

by Lisa Holmquist

Searching for the right home takes time and energy. But if you use your local expert, we make sense out of all the options that may overwhelm you.

Your Lender

Start with finding a lender, so you know what your financial comfort level is – you will want to know how much home you can afford, what the monthly costs will be (which includes a homeowner’s association in much of the Las Vegas area), and how much cash you will need to bring to the closing table. A lot of people don’t take the step of finding a lender early enough in the process, and they find themselves losing out when they find a home they love, but aren’t ready to make an offer.

Once you have received a full underwritten approval you are ready to compete against other buyers for the home of your dreams.

TeamsummerlinTip: If you don’t know any lenders in the Las Vegas area, we can always send you a list of three or four to interview – just send us an email for a list. That way you can look for a lender who has the type of loan program you need and with whom you communicate easily. You will want to make sure that you choose a lender who asks questions to find out about your unique situation, and who can make suggestions to help you clear up any items that may hold you back from getting your loan.

Your home search

As your real estate experts, teamsummerlin.com will learn about your unique situation and then use our inventory knowledge to help you find the perfect home. Typically the average home search takes about 12 weeks. It starts by you telling us about your wants and needs; if you are not from the area we like to do some area education that will point out landmarks and points of interest so you can choose which part of town you like the best. We will set you up to automatically receive new listings that match your criteria, and you can choose when you want to go see your favorites.

TeamsummerlinTip:Some of today’s best values may be on homes in great areas that have terrible listing photos. Many home buyers see beautiful photos and opt to see the listing, but may be unimpressed by a home in person. Unprofessional photos scare away other buyers; if you see unprofessional photos but like the area, we should go see it! You may be able to get a great price with little competition from other buyers.

Making the offer

When you have found the home that’s right for you, we dig deep to find out everything possible about the home and use that deep background to help you determine the price you want to offer. During the negotiations, it’s our job to keep you informed and offer information that will help you get the offer accepted. (This is where the fully underwritten loan from your lender is your best asset. It will allow you to compete almost as if you are making a cash offer.) Most sellers don’t accept the first number or terms offered. We want to stay one or two steps ahead and know our next move, and hopefully find terms that you can both agree on.

TeamsummerlinTip: Negotiating can get bogged down by one or both sides wanting to “win at all costs”. The best outcome for negotiations is that both sides are satisfied and feel like they got what they needed.

Pending Sale/Due Diligence

Once your offer is accepted, our job is to keep you informed on the process and keep you on time with the necessary deadlines that must be met to conform to your contract. We work with you, your home inspector, lender, the escrow/title company, seller’s realtor, home warranty company and any homeowners associations to manage the transaction so that it closes on time.

The home inspection is ordered and any repairs requested in the time period specified in the contract. If needed, this can cause another round of negotiating.

Once the lender has received your payment for appraisal, the appraiser’s estimate of the home’s value may cause another round of negotiating. If appraisal is low, you have the option to walk away, re-negotiate on price, or come up with cash to make up the difference. If the appraisal is high, congratulations because you got a great deal!

TeamsummerlinTip: Unlike some states back east, most home sales are not handled by an attorney in Nevada, although you may request that if you prefer.

Closing Day

Even the easiest transaction can get held up at the end by factors outside of your control. Our job is to communicate with all parties and facilitate getting the transaction closed. The happiest day is when both parties have completed everything they needed to do to complete the sale.

TeamsummerlinTip: Don’t schedule your movers just yet! Nevada law requires that a sale be recorded at the county prior to the new owner taking possession. Make sure your moving day is flexible and you have contingency plans if recording gets held up.

Are you ready to get started?

Register at lisaholmquist.com and start looking for homes today, or call 702-875-5007 to talk to a real estate professional about your unique situation.

Lisa Holmquist is a Realtor(r) and Seller Representative Specialist with Urban Nest Realty in Summerlin NV. She can be reached at 702-875-5007 or lisaholmquist@gmail.com

* find me on facebook: www.facebook.com/teamsummerlin

Urban Nest Realty
Lisa Holmquist
9580 W Sahara Ave Ste. 200
Las Vegas, NV 89117

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