Buying A Home in Nevada
The Nevada home buying process is unfamiliar to most people, even if they are buying their fifth home. This is because things change. We are here to help and protect you every step in this process. Our goal is for you to buy a sound investment as well as a great home. Let us know how we can help you with your Southern Nevada Real Estate needs.
Choose Your Realtor
Once you have decided to buy a house, you should choose your Realtor. Since the U.S. Real Estate System has Sellers paying for your Realtor, we suggest that you take advantage of this and get the best Realtor in town (Kurt)! You want someone that has traits, qualities, and knowledge that exceed all others. Kurt Grosse is called “The Protector” for a reason. As a 24+ year Top-Producing Las Vegas Realtor and a Retired P.E., C.E. Building Engineer, you get more than the standard Realtor. You get someone whose goal is to protect you!
Securing Home Financing
When an offer is presented to a home seller, it is a Southern Nevada standard to provide either a Loan Approval Letter from a licensed Nevada Lender or a statement proving the source of funds if you pay cash. People getting financing should meet with a home lender as soon as possible. Talk to three lenders to compare rates and fees before choosing one. If you need a referral, please let us know. We also have many blogs about buying homes.
There are 3 cities in the Las Vegas Valley- Las Vegas, Henderson, and North Las Vegas. The gray areas on the map pictured are the unincorporated Clark County section of Las Vegas. All three cities have similar features and amenities. However, they are also very different. Most people choose to live near a place of employment or a friend or relatives. If you are unsure of which area of town to live in, we start with a “3 Hour Tour” to show you the differences and future projects that each city offers. Prices vary as to which area you choose so we show you what you get for your money in each city.
Once you decide where to live, we go shopping. We show you both new construction and pre-owned homes that fit your criteria, location, and price. While you look to see if a home fits your needs, we look for signs of where you might have future issues. With new construction homes, Kurt monitors the construction for you as the home is built as part of our service.
Making An Offer
Once you find the house you like, we write an offer and present it to the seller. We know of 20 possible out-clauses for you on the standard Las Vegas Real Estate Purchase Agreement. Before writing any offer, we discuss the offer strategy. You choose the price offered. We want you to pay as little as possible while not having a seller reject everything. After they sign the offer, our job changes to us doing everything we can to protect your earnest money by allowing you to walk away from the house if you choose to without being harmed. Our goal with every contract is to protect our clients and their earnest money.
Escrow and Title
Once your offer has been accepted, we submit your earnest money deposit and the signed contract to an escrow company. In Nevada, escrow and title companies are usually the same. Escrow is a disinterested third-party company that handles the finances and paperwork of the transaction. They also issue title insurance guaranteeing that the property is transferred to you with a clear title.
Due Diligence Period
There is a period of time called the “Due Diligence Period” clause in every contract. This is when you will have the property inspected and repairs negotiated. You’ll receive a copy of the neighborhoods’ CCR’s to approve. Make sure you read them! A preliminary title report is delivered to your Realtor. I read them for you, looking for red flags like unusual easements and liens. If there is a room addition or a garage conversion, we also check for permits.
Once your Due Diligence items are completed to your satisfaction, an appraisal is ordered, and the loan is completed. Assuming everything has gone as planned, the escrow company gives us a financial worksheet to approve for you. We will then make a signing appointment for you. Before you sign, we read docs and look over the money worksheet again to verify accuracy. If you have any questions or concerns, we are available in person or in our office to handle them.
Funding and Recording
The next step in the Home Buying Process is to get the papers you signed back to the lender and into the funding department. Signatures are checked, approved, and loan monies are wired to the escrow/title company. Electronic Recording is the only way to file title papers with the Clark County Recorders Office. After receipt of filing is issued, the house belongs to you. Congratulations! We are honored to present you with the keys to your new home!
Please Note: Due to the instability of employment in 2020, your employment is verified numerous times by your lender. If you lose your job, either get a new one in the same line of work or cancel the transaction due to no longer qualifying for a loan. If you choose to cancel, you want to do this before the seller is harmed and deserves to keep your earnest money.
This website and information are made available for you to explore by Kurt Grosse with Realty One Group. Kurt is a Las Vegas Top-Producing Realtor since 1996 and a Retired Building Engineer (P.E., C.E.). His goal with his buyers and sellers is to use his skills and knowledge to protect them in this ever-changing Las Vegas Real Estate Market. With how quickly homes are built in Southern Nevada, his skills are invaluable.
We Sell Las Vegas, Henderson and North Las Vegas
Call or text us today with any questions or for an appointment to see some of these great homes- 702-750-7599
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