Buy Your New Home
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Buying your new home can be a scary process or an easy, simple, and exciting experience.  Let us be your guide and give you the steps to success on how to buy your new home!

The old adage of the sages “knowledge is power” rings true on your journey to buy your new home.  To simplify the home buying process we have put together the home buying steps to success and made them available to you below.

Consider your options

  • Would you like to buy your new home online?  Yes, with advancements in technology it’s possible to buy your new home with a tech savvy real estate agent saving you huge amounts of time, energy, and greatly simplifying the process.
  • Would you like to work with your agent in person?  Of course, this traditional method is always available to you at anytime as well.

**NOTE:  With either method, if you would like to physically view your new home, your professional real estate agent will still need to        set the appointment and open the home for your the showing of your new home.**

Buying your new home requires time and effort on your part, but we will empower you with the knowledge of foresight to smooth out the process with good planning ensuring you have an exceptional home buying experience.   Our steps to success below will help you discover your new Las Vegas Home with ease; taking the guesswork and stress out of the process.

Keep in mind that as you search for your new home that homeownership comes with new responsibilities and expenses to plan for like maintenance and repairs over time.  Before embarking on the exciting and rewarding journey to home ownership it is important for you to honestly assess your current financial situation and if homeownership is right for you.

Step 1:  Determine Your Budget

Review your current financial position and determine how much you are prepared to allocate for your affordable monthly mortgage.  A knowledgeable and experienced loan officer will review your loan options with you and which loan type offers you the greatest benefit buying your new dream home.

In the world of home loans, some loan programs may require little to no down payment.  As you discuss which loan type is best for you with a knowledgeable and experienced loan officer ask him/ her to calculate any home inspection and appraisal fees, buyer closing costs,  and title fees.  With that knowledge plan for and consider your moving expenses, new appliance if desired, along with any renovations you want to make when move into your dream home.

Step 2:  Find a Knowledgeable & Experienced Lender

Shop around for lender’s and find the one that works best for your needs and provides you with personal service.  A  knowledgeable & experienced loan officer is happy to answer all of your questions to ensure you are 100% comfortable moving forward.  Make sure you are happy with their answers and feel comfortable with them, like your professional real estate agent, your loan officer is one of your greatest teammates in buying your new home.

Once you find a lender that you are comfortable with ask him/ her for a loan pre-approval letter.  Having a your loan pre-approval letter in hand means you are ready to buy your new home and the seller will know you are a serious buyer.

Step 3:  Find a Professional & Experienced Real Estate Agent

A savvy real estate agent is an important ally when you’re looking to buy a home. Real estate agents have extensive knowledge of the specific neighborhoods and houses in your price range. A REALTOR is a skilled negotiator and can provide you with an abundance of valuable information to help you make the right choices.

Step 4:   Discover the Right Home

You probably have a great vision of what you’re looking for when you buy your new home.  You’ve already thought how about how many bedrooms you need and how you will decorate each one.   You’re likely visualizing the many wonderful times you will have cooking in your ideal kitchen with your mouth watering as you think about making your favorite dishes.  You know how much closet space you desire for your clothes, shoes, and just how you have the perfect spot planned for each.  You likely daydream about the many days you will enjoy your new backyard planning down to the last plant how large your yard needs to be for your kids and pets to play as you entertain friends, family, and guests.

You’ve thought about your lifestyle and which neighborhood is best for for you observing how many homes are well maintained in your new community.  You’ve planned out how your commute time, nearby shopping, parks, schools, parking conditions, restaurants, and local businesses, etc… you frequent.

Now you’re ready to start touring homes within your price range with your professional & knowledgeable real estate agent.  As you visit each home, grade them with 1- 5 stars.  1 being didn’t like it all and 5 being how soon can I close.  You realize any home that is 4 of 5 stars on your grading scale is the right one since none can really be 5 stars until you put you adorn your new home with our personal touches.  You may want to take additional pictures, video, and notes to best remember your favorite features of each home you visit.

Be patient and take your time as you consider which house to make your home.  Take a closer look at the plumbing, the electrical, and the general condition of the house, including the appropriate function of doors and windows, pool equipment, sprinklers, landscaping, garage door opener, appliances, etc.  Of course, you’ll likely want to hire a certified and professional home inspector to take a closer look for you when you offer is accepted.

Step 5:  Make Your Offer 

When making your offer your agent should have diligently assessed your new neighborhood knowing what properties are selling for in the area and why.   Your professional & knowledgeable real estate agent will assist you in negotiating the best deal possible as your buy your new home considering any specific needs you may have.  Your agent will prepare your offer, disclosures, and submit your offer for you.  Typically it takes 1- 3 days to get a response from the seller.

When the seller accepts your offer the next step is to open escrow with the title company.  Escrow is opened when your earnest money deposit (EMD) is received by the escrow officer.  The earnest money deposit is customary and an action of good faith to the seller you are committed to buy your new home.

Step 6:  Decide on the Best Mortgage for You

Several different and unique loan programs are available to you.  Your professional and experienced loan officer will assist you in selecting the best mortgage for you answering any questions many have so you can make an educated decision what works best for you.

Step 7:  Your Home Inspection

Your agent will schedule our home inspection for you taking into consideration if you would like to be present for the home inspection to ask any additional questions of your home inspector about your new home should you have any questions.  The home inspection report will show you the current condition of your new home and what/ if anything should be requested of the seller to repair prior to closing on your new home.

Step 8:  Home Appraisal

Your lender will arrange for an independent third party assessment of the home to establish the fair market value of the property.

Step 9:  Your Loan is Approved and Funding Commenced

Once all of the loan documents are approved by the lender, the loan will be financed and the funds will be transferred to the title company’s escrow officer.

Step 10:  Closing Your New Home

The title company will take care of all the paperwork involved with a property ownership transfer and recording the deed with the county assessor. Upon closing, you are required to sign all of the paperwork to complete the purchase.

Step 11:  Get Ready. Set. Move into YOUR New Home 

Once the sale has closed and the seller receives their money, you will be given the keys and are free to move into your new house.

As you can see, having an experienced lender and a knowledgeable real estate agent working for you is of paramount importance when purchasing a new home. They are here to assist you with all the preparation to make the home buying process an enjoyable and exciting experience.

At the Andrew Finney Team we truly care for the needs of our clients with the utmost of Honor, Integrity, and Performance.  Let us show you how to buy your new home from A-Z easily.  Contact Us Here

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