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DECIDING TO BUY

Buy Your Home in Las Vegas - Elevated Homes LV

MAKING THE PURCHASE DECISION

Investing in real estate could be the most substantial financial choice you'll ever face. Whether you're navigating your first home purchase or you're a seasoned investor, proceeding with caution is paramount.

UNDERSTANDING YOUR MOTIVES

Is the renter's life growing old? Perhaps you're ready to invest in your own mortgage rather than your landlord's, need more space, or wish to diversify your investment portfolio. Maybe it's time for a bigger backyard, a change of scenery, or a shorter commute. Knowing why you want to buy is crucial for selecting the ideal property.

EVALUATING YOUR FINANCIAL GROWTH

Real estate is a solid investment avenue, be it for finding your dream home, acquiring a rental space, or broadening your investment horizon. It stands as one of the safer methods to increase your net worth or gain on your investment.

GETTING READY FOR PURCHASE
Preparation is key before embarking on your property search.

ORGANIZE YOUR FINANCIAL RECORDS

Keep essential financial documents in a "financial file" for easy access during the financing process. This should include bank statements, investments, credit cards, loans, recent paychecks, tax filings of the past two years, lease copies for investors, and details of your 401K, life insurance, stocks, bonds, and mutual funds.

ASSESS YOUR CREDIT STANDING

Your credit score plays a significant role in what you can buy and at what price. Initially, have a lending institution review your credit score to determine your purchasing power.

MAINTAIN FINANCIAL STABILITY

Avoid making sudden career changes or significant purchases. Approaching your property acquisition from a position of financial stability is wise.

SELECTING A REAL ESTATE AGENT
The complexity of buying property makes it beneficial to have a seasoned professional by your side. They can offer guidance, access to early listings, and assist with the paperwork.

Considerations for choosing your agent include their full-time status, familiarity with your area of interest, availability, credentials, responsiveness, and their ability to understand and cater to your needs.

THE SEARCH BEGINS
With preparations behind you, it's time to look for the perfect property.

EXPLORE ON YOUR OWN

Familiarize yourself with desired neighborhoods by driving around, noting the feel and available properties.

NARROW DOWN YOUR OPTIONS

Identify a few properties of interest and arrange viewings through your agent, keeping potential resale value in mind.

MAKING AN OFFER

Once you've chosen a property, your agent will assist in making an acceptable offer, considering potential costs and strategically crafting your proposal.

UNDERGOING ESCROW, INSPECTIONS, AND APPRAISALS

THE AGREEMENT PROCESS

A legally binding agreement between buyer and seller is critical. Keeping detailed records and adhering to timelines ensures smooth negotiation and adherence to the contract.

THE ROLE OF THE CLOSING AGENT

A closing agent, either a title company or attorney, will ensure the property's title is clear and manage the deposit in escrow, among other responsibilities.

INSPECTIONS

Professional inspections are necessary to proceed with the purchase, covering specific areas like the roof, HVAC, or structure, depending on the property type.

THE APPRAISAL AND FINANCING STAGE

Maintain open communication with your lender, ensuring all required documents are submitted promptly to facilitate the lending process.

MOVING IN AND CLOSING DAY FINAL STEPS
A final walk-through inspection, setting up utilities, and being prepared for any last-minute issues are essential steps before closing.

THE CLOSING PROCESS

On closing day, all parties will finalize the transaction with the signing of the settlement statement and other necessary documents, culminating in the transfer of keys and property information.

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Jennifer Stuart

702.265.4498
REALTOR®, Lic# S.0056321
elevatedhomeslv@gmail.com

1780 W Horizon Ridge Pkwy #100

Henderson, Nv 89012

If you are already listed with another agent, this is not a solicitation for services