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Friday, February 19, 2016

10 Things To Expect After Your Offer's Been Accepted to Purchase a LasVegas Home

What To Expect During The Escrow Process When Buying a Home in Las Vegas

  1. After your offer is accepted, you'll need to open escrow by wiring the earnest money deposit to your escrow and title company (always make sure to call the office after receiving wire instructions to verify their bank account information).

  1. Hire a home inspector - email thevegasagent@gmail.com and we will send you our entire list of recommended Las Vegas home service professionals and contractors. The home inspection appointment should be set up soon after You and the sellers come to an agreement. Negotiations will take place after this step.

    1. Your due diligence period starts the day your offer is accepted. After your offer to purchase a Las Vegas or Henderson home -- You're one step closer to owning itšŸ”!  It's important to make sure there are no major issues with this home; a common way to help ensure that is through a general home inspection.

    2. Your standard offer or Las Vegas Residential Purchase Agreement (RPA) will most likely outline a section that addresses your time frames on general inspection and response to seller periods aka. DUE DILIGENCE PERIOD.

  1. Order and pay for an appraisal. This is usually done through your lender. Email TheVegasAgents@gmail.com for that list. Negotiations may take place after the appraisal comes in (usually if the appraisal is lower than the agreed upon price).

  1. Review all seller disclosures soon after they are received. Then work with your Vegas Real Estate Agent to decide if any further negotiations need to take place. Negotiations may take place after this step.

  1. Mark the close of escrow date on your calendar. It's a good idea to know this date since a lot of important activity during the buying process hinges on it.

  1. 5 days before the close date (the day you become the owner) you will perform a walk through inspection with your Vegas Real Estate Agent to check if things are still in working order at the property - there is a form for you to check items off and sign at that point as well. Negotiations may take place after this step as well.

  1. Order your home warranty (optional). In today’s market it’s common for sellers to pay for a buyer’s home warranty plan.

  1. Call the local utilities companies and set up the transfer to go in your name when they are turned off by the seller. This is an important task so there is no lag in service at your new home.

  1. Your final signing will be a few days before the close of escrow date, at the title company agreed on in the purchase agreement. There will always be a Vegas Real Estate Agent with you at the signing to help interpret closing process.

  1. After your purchase is made official at the Clark County Recorder’s Office, and you become the owner of the home, we will arrange for transfer of keys!


As you can see it's wise to find a Vegas Real Estate Agent who's a strong negotiator.

Danny Phee was born and raised in Las Vegas and starting selling real estate in Southern Nevada in 2008. Search homes for sale in Las Vegas at DannyPhee.com

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