First, I only want you to buy a home you’re happy with.
If you can’t comfortably afford the home, or should keep looking, or shouldn’t even buy, I’ll tell you.
Regret is the worst.
But if you would really enjoy owning a home, and the numbers make sense for you, I’ll be your biggest cheerleader, tour guide, and safety net.
So what’s the process look like?
First, we should look at the numbers and figure out what you need.
Step 1.1: Budget
Nobody likes talking about numbers.
But if it’s too expensive, we should know that before we see a home and get our hopes up.
In this stage, you should talk to a lender if you’re not buying with all cash.
The lender usually needs:
- To do a soft credit pull (shouldn’t affect your credit)
- The last 2 years of your tax returns
- The last 2 years of your w2 or similar forms
- The last 2 months of your pay stubs if applicable
- The last 2 months of bank statements showing the money you’ll use for your down payment.
I can connect you with lenders and help you compare rates and fees.
Step 1.2: Needs
After we figure out your budget, we should figure out what’s available in that budget.
We should figure out:
- What areas you want to live in
- What kind of home you want (Single Family Home, Condos, Townhomes, High Rise, etc.)
- When you want to get the keys.
Then we start shopping!
Step 2.1: Email Updates & Picking Homes
I’ll email you homes based on what you asked for.
My automated system will also send you updates when more homes come on the market.
If you see something you like, you can tell me and we’ll start scheduling tours.
If you’re too busy to go through the e-mails, I can help pick homes based on your needs.
Step 2.2: Picking Homes & Scheduling Tours
One of the benefits of having a Realtor is being able to schedule multiple homes in a short time span to save time.
Sometimes a seller is not available to fit our schedule, though.
If you’re too busy to see a home and it might be sold quickly, I can visit and take video.
I use a gimbal for stable video.
Then I upload it to a private youtube link so you can view it whenever you’re free.
As you see homes, you’ll learn more about what you like and don’t like.
I’ll take notes and we’ll adjust as needed.
If you find a home you like, you can make an offer!
Step 3.1: Sales Data
Before you make offers, I’ll check the sales data to make sure you’re not overpaying.
We usually compare similar homes sold in the same area, in the past 6 months.
Step 3.2: Sending Offers
You can make offers based on your own timeline and terms.
You can also make multiple offers at once.
If the seller has special needs, I will ask them and we can consider those needs to make our offer stronger if it works for us too.
I’ll write up the offers and send them to you via e-mail for electronic signing.
If you get an accepted offer, we “start escrow” which are real estate words for “we’re in contract” and we need a title/escrow company to make sure the buyer and seller do what they’re supposed to do.
Here’s the next steps for the buyer.
Step 4.1: Give Your “Earnest Money Deposit”
This is money the buyer deposits to the title company (middle man) to show that we’re serious about buying the home.
In Las Vegas, it’s usually between $3000-$5000, but can be more or less.
If you’re using a loan, it goes towards your down payment.
I’ll help you coordinate depositing this money to the title company. Usually we can drop off a check or wire the money.
If you cancel the purchase with a proper contingency or “fair reason”, you will get it refunded.
Step 4.2: Schedule an Inspection
Usually, in the first 7 to 10 days after an offer is accepted, we can cancel the purchase for any reason and get our deposit back.
This number of days is negotiable though. Always check with your agent how long this “get out of jail free” period is. This time period is called “Due Dilligence.”
In this period, we usually order a home inspection. Inspections cost on average between $350-400. Sometimes more for bigger homes or homes with swimming pools.
A home inspector is allowed to visually inspect the home.
Inspectors will check major systems like plumbing, heating, air conditioning, and electrical functions.
They’ll check as much as they can, and sometimes even use infrared scanners.
But inspectors can’t do things like rip walls open to check inside.
They can’t test things in a way that might damage the home.
If we find issues, we can ask for repairs. I’ll help you handle that when we get to it.
Step 4.3: Start Your Loan Application (if applicable)
If you’re not buying with all cash (most people don’t), you’ll need to start your loan application with your lender.
The lender will ask for information from you they’re missing anything.
When will you know it’s time to do this? I’ll remind you haha.
During this period, we do a few “double checks” to make sure we’re making a good decision.
Step 5.1: HOA Rules
If there’s an HOA (Homeowners Association), we will check the rules, restrictions, and fees.
If we have an issue with what we find, we can cancel our purchase within 5 days of receiving the rules.
Step 5.2: Loan Approval
If we’re using a lender, they’ll be confirming the following:
- Your finances and credit are all good.
- The home is in livable condition and the appraisal value is high enough for them to give you the loan.
- If the appraisal value comes low, there’s different ways to handle that. I’ll explain that if we get to that point.
Step 5.3: Walkthrough & Signing
Before signing the final paperwork to take ownership, we do a walkthrough of the home to make sure the condition is as promised.
If the seller agreed to do repairs or move things out, we will double check at this time.
If everything is good, we will:
- Go to the title company
- Make sure the numbers are correct
- Sign paperwork
- Send the remainder of our down payment via wire.
After the county records the ownership in your name, I meet you at the house and give you the keys!
Yay! You’re a homeowner now!
But what happens after?
Some last minute housekeeping!
Step 6.1 Utilities
Technically, I’ll help you coordinate setting up utilities before you sign. But that’s a lot of information to squeeze up there.
You can find the utility companies via my page here: Utilities
Step 6.2 Maintenance
If you need people to help with some repairs or estimates after you get your keys, feel free to reach out to some people I’ve used and recommend.
Some are licensed contractors. Some are not. But most of them should be great at what they do.
The licensed ones are usually extra expensive but have more insurance of course.
Here’s a link to people I like to use: Leng’s List of Vendors
Step 6.3 Mail & Spam
If you didn’t get a set of mail keys form the seller, you can get new keys from your local post office.
To find your post office, use this tool here: https://tools.usps.com/locations/
It may cost between $15 to $50 depending on the type of mailbox.
Also, you’ll get some spam mail and possibly some annoying calls.
Some mail will likely come in asking you to record a homestead or something to “protect your home” and they’ll charge you a fee for it.
Don’t fall for it. You can do the Homestead thing yourself without paying a middleman.
Learn more about Homestead here: https://www.clarkcountynv.gov/government/assessor/home-stead
You may also get some calls from ADT. They’ll also call me offering me some money to get your contact information.
If you’re going to sign up with them anyway, let me know and I can “refer” you and give you the $200-300 referral commission or whatever the number is. 🙂
How much do you charge?
For buying a resale home
- My standard rate for new clients or strangers is 3%.
- For friends, followers, and previous clients, I charge 2.5%.
I negotiate for the seller to pay this fee for you, but some sellers can be stubborn. As the buyer, you would be responsible for any unpaid amount.
For buying a new construction home
- I charge 2% of the base price.
- If the builder pays more, the fee adjusts to match.
- For new construction, my services beyond contract review typically include:
- Being available for questions
- Searching through all the builders to help find options for you
- Touring the homes with you
- Communicating with the lender, title company, and builder team to make the process smoother.
- Attending the new home design appointments
- Talking to different vendors to help you compare options for upgrades done with the builder vs after you take ownership.
- Attending the frame walk
- Attending the final orientation walkthroughs
- If you are a do-it-yourself-er & only need your contract reviewed and no other services, I can rebate you up to $5000.
- If you only need your contract reviewed + you buy a quick move-in home, I can rebate you up to $6000.
- Details on the rebate program for Do-it-yourself-ers here.
