Buying A Home in Henderson | Las Vegas

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Whether you’re a first time home buyer, moving up or down in size, changing neighborhoods, or investing in Henderson or Las Vegas real estate, we’ve got you covered! We are a full-service brokerage, and we are ready to adjust your home search to meet YOUR needs. We know that in order to help our clients, we must be able to listen to them and understand their tastes and their needs for their next home. We will guide you through the process and make it as simple as we possibly can. It is our goal to relieve the stress so you can enjoy finding and buying your next home in Henderson or Las Vegas!

Finance Plays A Huge Role

Finances are one of the biggest factors when buying a house in Henderson, which is no surprise. We have several lenders that we work with who have years of experience in the area. They will walk you through what you can and can’t do while you are purchasing a home or tell you how to get your finances in order so that you will be able to qualify for a loan. They will walk you through what type of mortgages you will want to consider or that you qualify for. Depending on your home buying situation you may be able to qualify for down payment assistance. They may also be able to help you save money as you may qualify for a better interest rate if you pay off certain debts, save a little extra for your down payment, and more. Paying off certain debts can temporarily hurt your credit score, so you will want to talk to a professional loan officer or lender first as you begin to organize your finances to be able to purchase a home in Henderson, Boulder City, or Las Vegas.

Our 10 step process to homeownership!

With Our Professional Assistance You Will Receive Tips On Buying A Home With The Features You Want.

  1. Contact a real estate agent at Nevada Desert Realty

    Getting in touch with a real estate agent is the first thing to do when you’re ready to purchase a home. They can help you figure out what you specifically need to do next and if you are ready to buy a home. They can also connect you with a lender that they trust that has years of experience in working with home buyers. This agent will also help you with about how much it will cost you in closing costs, fees, and down payment to make sure you are financially ready to make a purchase now. A real estate agent will also be able to personalize this Guide to buying a home to help you see what each step means to you.

  2. Connect with a loan officer or lender

    You can interview several and choose the one you like best. Once you choose you can ask for a pre-qualification letter that will let your real estate agent know what you can afford in a home. Once they send you a prequal letter you will want to ask them what documents they need from you and begin to assemble and supply your lender with what they need from you. They will usually need several months of pay stubs, bank statements, the last 2 years of tax returns, and a couple forms of ID. Each lender has their own requirement, but all require at least the documents listed above.

  3. Find your home

    Once you know your budget, it’s time to find a home! Once you and your agent narrow down your price range, the area you want to live in, and what you need in a home such as the number of bedrooms and square footage, you may have up to 20 homes to choose from depending on your flexibility. It usually does not take that many home visits as your agent will be able to look at photos of each home before you visit to narrow down your search so it won’t be so overwhelming. Once you find your dream home, it’s time to make an offer!

  4. Begin Escrow

    The fourth step of this guide to buying a home is to open escrow! Once you get an accepted offer, you will make an Earnest Money Deposit. This is usually about 1% of the sale price that shows that you earnestly want to purchase the home and you are not wasting the seller’s time and you do have money for the down payment. The title company handling your escrow will take the EMD and hold it till the end of escrow. If you back out of the sale at the wrong time of the sale, you could lose your EMD. Escrow is usually about 45 days unless you are paying cash for the home. This is one of the most important parts of the home buying process to have a real estate agent. They will make sure that everything is being done in a timely manner and the right documents are being signed so that you are protected.

  5. Home inspection and appraisal

    Usually you have 10 to 14 days to get a home inspection once you start escrow. In most home inspections, your agent, a home inspector, and you will walk through the home and the inspector will explain different issues that are present or may be present in the home. Afterward the inspector will send you a detailed report on all the issues in the home. Your agent will be able to use this report to possibly negotiate that the sellers fix the issues before the close of escrow or credit you money so that you can afford to make the fixes once the home is yours. These fixes are usually functional, not cosmetic. Although you can ask for the home to be repainted, you may not have a positive response from the sellers. The appraisal is when the mortgage company or lender comes to inspect the home to make sure it is worth what you are purchasing the home for. If the appraiser doesn’t think the home is worth what you are purchasing it for, you may have to negotiate with the sellers to lower the price or you will have to pay the difference out of pocket.

  6. Get final approval from your lender

    Throughout the process you will want to be checking with your lender to make sure they have everything they need from you. Having a conversation once a week over the phone or continuing an email conversation may be in your best interest if you want to close quickly. Lenders have quite a process for each home loan they grant to home buyers. If you aren’t working closely with your lender or if you are not getting them the necessary documentation, it can extend escrow an additional week or two or even make the home fall out of escrow and you can lose the home.

  7. Final Walk Through

    This is when you and your real estate agent walk through the home one more time before you go to the title company to sign the last documents. This step is in place so that the sellers don’t trash the place before they leave and that nothing has happened between the home inspection and the home sale which would require money to fix. Your real estate agent will have a form at the walkthrough to check off all the items that you need to check before finalizing the purchase of the home.

  8. Signing

    Your title company will contact you or your agent to set an appointment for you to sign your final papers! The title company will have a mountain of paperwork for you to complete, so make sure you allow yourself enough time to complete the signing. You should ask your title company how much time the signing appointment will take and what you should bring. Usually you will need 2 forms of ID if not more documentation. We know, by this time you will be sick of signing documents, but it will just be another day or two and the home will be yours!

  9. Recording of County documents and Funding

    After you finish with your signing appointment. You will have to wire (unless you’ve made other arrangements with your escrow company) your down payment and closing costs to the title company. Once they receive the funds from you and your lender, they will send documents to the county to let them know that the ownership has transferred from the seller to you. At this point you are the official owner and should be getting the keys from your agent!

  10. Move in!

    If you’re at this point in the Guide to buying a house, you’ve survived the home buying process! It’s time to move in and make the home your own. Making improvements in your home will help to increase the equity in your home, so make sure you’ve made a good friend of your real estate agent who can help advise you what improvements will be worth your money. If you have any questions at all, be sure to ask your real estate agent, they may even be able to help you choose a moving company, a trusted handyman, and more!

First Time Home Buyers

If you’re a first time home buyer, you may be overwhelmed with where to start the process of buying a home. The first thing you will want to do is contact an experienced real estate agent. Michael and Anna Klinger have worked with many first time home buyers and have been Henderson and Las Vegas real estate agents for 15 years. Anna and Michael Klinger will be able to walk you through what you need to do in order to buy a house and help you figure out how much what you want or need in a home will cost you. They will be able to get you connected with an experienced mortgage officer. This mortgage officer will help you figure out if you need to increase your credit score and how to do that, pay off more debt before you buy a home, and or save up more money for a down payment.

If you are a first time home buyer who needs an experienced real estate agent, contact us at 702-509-1446!

After you discuss your needs and wants in a home with a real estate agent and your financial situation with a lender, you will want to sit down with the person you are buying a home with (if you are not buying the home by yourself). Figure out with the other homebuyer(s) involved what you may need to sacrifice in your list of wants to be able to afford the house that meets your needs. As first time home buyers you will also want to discuss how much your monthly payments should be. If you want to keep your monthly payments low, you may need to sacrifice some of your needs or make a larger down payment. Be sure to have done your research, hired an experienced Henderson real estate agent, discussed your financial options with your lender, and be on the same page and have a game plan with the person(s) you are buying a home with.

Want a list of experienced mortgage lenders? Call 702-509-1446!

Move-Up Buyers

Are you ready for a change in scenery? Is your home too much to maintain or do you need more space? Maybe you need to move into a certain school zone or closer to work? Whatever the reason you have for needing an upgrade in home, be sure to have a game plan when you are looking to purchase your home. The first thing you should consider is what you are going to do with the home you currently own. You may want to keep it as a rental if you are not tight on money. If you are a little more tight on money and need to sell the home, be sure to discuss with your lender (if you’re using one) if you need to sell your first home before being able to make an offer on a second home. You may also have to pay for upgrades on the home to get top dollar in the sale of your first home to help pay for the second home. Also keep in mind that the seller is the one paying the commissions to the real estate agents, which is 6% of the sale price of the home.

If you are a move-up buyer in Henderson, Las Vegas or Boulder City, be sure to contact the Klinger Group at 702-509-1446

After figuring out what to do with the first home, move-up buyers should then figure out what they want and need in their new home. Be sure to do your research and ask your real estate agent how much homes that fit your standards are selling for in the area that you are moving to. You should also ask your experienced Henderson or Las Vegas real estate agent about getting connected with an expert lender. Your lender will pre-qualify or pre-approve you based on your financial situation and how much money you have for a down payment. This part may be a process as your lender may advise you to pay off some debt or increase your credit score so that you can afford a bigger or more expensive home.

If you are a move-up buyer interested in finding out how much your home is worth, contact us at 702-509-1446!

After purchasing your second home, you may need to rent your first home for a few days after closing as it is rare that you will buy one home and sell the other on the same day. One other thing that will be different from buying your first home is that the tax credit for buying a home will probably be less. Throughout the move-up buying process, it is important to realize that the real estate market is always changing. Just because you bought your home in a buyer’s market doesn’t mean that it is still a buyer’s market when you go to make an offer on a home. This is why, despite the fact that you’ve already gone through the process, it is imperative that you have an experienced real estate agent on your side throughout the move-up buying process in Henderson, Las Vegas, and Boulder City.

As experienced real estate agents, we have helped many people upgrade their living situation by purchasing a new home! Contact us at 702-509-1446 for a free move-up buyer consultation!

Buying a rental property in Henderson and Las Vegas

Henderson Real Estate Investment Advice

Las Vegas is 4th on the list of US Cities with perfect markets for real estate investment. If you are considering buying rental property in Henderson and Las Vegas, be sure to study up on the home buying process in general. As an investor, you will need a higher down payment amount and may want to have additional cash set aside for fixing up the home before renting. There are many reasons why buying rental property in Henderson and Las Vegas is a good idea, below are 8 reasons why you should be investing through buying rental property in Henderson and Las Vegas.

Low average home cost

Henderson and Las Vegas have a relatively low average home price. This can make it easy to get into the real estate investment game as you will be able to find homes for sale for $100,000 or under and only need $20,000 for a down payment if you are planning on getting financing for buying rental property in Henderson and Las Vegas.

This can also mean that you can get more bang for your buck if you are looking to purchase a home in the $200,000-$300,000 range. Because Las Vegas is only a few hour drive from many Southern California Cities, many investors come to Henderson and Las Vegas instead of buying locally as they won’t have to start with as much money.

Transient City

Henderson and Las Vegas are transient areas, many people come out to the valley for work, but only stay a few years. Because a high amount of the population, especially compared to most cities, do not plan on settling in the valley, a high amount of the population are renters. With no plans of buying their own home and settling down in the valley, it is a perfect opportunity for investors to supply housing for these renters.

Higher Rents

Because Henderson and Las Vegas are a transient area, most people moving to the area are use to much higher rents and are thrilled to be able to afford more room. This will help you as someone planning on buying a rental property in Henderson and Las Vegas will almost always be able to cover their mortgage and management fees if they purchase their home at the right time. To find out when to buy a rental property in Henderson, be sure to contact an experienced Henderson real estate agent who will be able to discuss your specific situation and help you in buying a rental property in Henderson and Las Vegas.

Many property manager options

Though Las Vegas and Henderson don’t make up a huge metropolis compared to other areas of the United States, there are plenty of property managers to choose from. If you are considering purchasing a home in a more rural area, you may have a difficult time finding the right person to manage your property and your options may be very limited.

When looking for a property manager, be sure to conduct over the phone or in-person interviews first. You will be working with this person for hopefully several years at least, so if there is something that you dislike about them you may want to continue to interview other agents. You also will want to hire a property manager who will not charge you a thing until your home is rented. This is one of the reasons why Nevada Desert Realty’s Property Management services stand out from the rest- they will not charge you any management fees until they have rented your home. They will also be able to help you in the process of buying rental property in Henderson and Las Vegas. To get in contact with these agents, you can reach them at 702-509-1446!

In the top cities with the lowest probability for natural disaster

Henderson and Las Vegas are in the top areas for low probability of natural disaster. Though earthquakes are possible, they do not offer as much of a threat as California. Flooding can also occur in some areas in the valley, so be sure that your real estate agent knows that you don’t want to purchase a home near a flood zone.

This fact can make home insurance cheaper and will give you more peace of mind about buying a rental property in Henderson or Las Vegas as you won’t have to worry as much about the home being destroyed by natural occurrences.

High demand

Housing in Las Vegas and Henderson is currently in high demand. This cuts down on vacancy rates and drives rental prices up in many areas of the Valley. This is great if you are planning on buying a rental property in Henderson and Las Vegas as you will not have to wait long before it begins to generate income.

Roller coaster real estate market

This may seem a little scary, but many real estate investors have made tens of thousands of dollars because they bought when the market was low and sold when the market was at a high. These investors even made and received money through renting out the property while they waited for the home to gain value. This can be riskier and you will have to do a little more research as well as be completely sure that the Henderson real estate agent you’re hiring is honest and is experienced with purchasing rental homes.

Cheap travel costs

If you are an out of state investor interested in buying a rental property in Henderson and Las Vegas, flying out and staying in Las Vegas can be extremely cheap! Flights into Vegas are often very inexpensive and hotel costs during the week are very low, especially if you don’t stay right on the strip.

Buying Henderson and Las Vegas Short Sale Real Estate

Why would someone be interested in buying Henderson short sale real estate if the process takes twice as long as a normal sale? Many home buyers who are looking for a deal ask their real estate agents to show them short sale properties. This hope for finding a great deal isn’t always valid as lenders will want top dollar for the home as they are already taking a loss on the sale of the home. However, if you are dealing with a realistic lender you may be able to find a great deal. Usually, homeowners who are short selling their home did nothing to prepare the home for a sale, and buyers with experienced short sale agents will be able to negotiate the price down because of all the updates and possible repairs needed.

Henderson short sale real estate listings have longer escrow periods

Another thing to consider is how long you have till you have to be moved in? If you have a 2-month window to look for and purchase a property, then you should stay away from short sales and foreclosures. It will often take a bank a month or two, possibly more to review and approve an offer on a home. During that period you may not hear back from the listing agent at all and feel like you’re not sure what you’re waiting on. Remember that banks or lenders are taking a loss in a short sale, and they are in no hurry to complete the sale.

Henderson short sale real estate listings will require more cash upfront

Another downside to short sales is that usually, you will need more cash upfront for closing costs as it is not unusual for the seller to be behind on their utility or HOA payments which will need to be paid at the closing table. If you are only planning on putting down 3-5%, you also may want to stay away from a short sale because of the other expenses above and the repairs that may be required immediately.

Understanding Henderson short sale real estate values and repair costs

However, if you are planning on taking several months to purchase a home and move in or fix it up to sell or rent out, and you will be paying cash for your property or have a decent down payment, a short sale may be perfect for you. Though banks can make it hard to get an amazing deal, the key to buying short sale properties is to have an experienced short sale real estate agent to help you through the process. Knowing the current market values of homes in the area is also a huge factor to finding a deal on a short sale, this is another area in which your short sale real estate agent can help. The fact that a short sale may need more work than traditional sales in the area will give you and your short sale expert an edge against the bank to talk them down. This is true of course, if the lender you are dealing with is fair, which is not always the case.

Henderson short sale real estate is usually sold in “As is condition”

This means that they will not offer repairs or may be unwilling to reduce the price for necessary repairs. THIS DOES NOT MEAN THAT YOU SHOULD NOT HAVE A HOME INSPECTION! An experienced short sale real estate agent will encourage you to still pay for a home inspection. The typical cost is from $225-$1000 depending on the size of the property, pools, features, etc. This will help you determine if the home is in good condition.

Purchasing a House in Henderson or Las Vegas verses Renting

Many struggle with the question, “Should I buy my home or rent it?” There are obvious benefits to both. As a renter you can simply walk away from a property if your lease is up and you no longer wish to live in the home or area. You also can call your landlord and have him send a technician to fix the home without paying a dime. As a renter, you also don’t have to worry about the depreciation of the home or the current state of the real estate market.

Interested in renting out your house in Henderson or Las Vegas? Read more about property management here…

As you’ve seen above there are several benefits to renting, however, it may be your best option to purchase your own home in Henderson or Las Vegas. When you purchase your own home, your monthly payments are building equity in your own real estate, not disappearing forever. You can also deduct the interest you pay on your home in your taxes. You can also paint your home, install new flooring, or even just hang up artwork or picture frames without having to get landlord approval. You also have the option of locking in a monthly payment amount, without having to worry that the landlord is going to raise the rent when your lease is up. You also won’t have to worry about having to move because the landlord has other plans for the home.

Below is a table which shows the money you are loosing over 5-30 years if you continue to rent and never purchase a home.

chart showing money lost to renting vs buying

Keep in mind that the money that you pay in rent is gone forever. If this chart is motivating you to purchase your own home, contact the Klinger Group at 702-509-1446 to find out what you need to do to purchase a house in Henderson or Las Vegas.



Nevada Desert Realty logo call 702-509-1446 for all your real estate needs.
Nevada Desert Realty
Klinger Real Estate Group
NVDRE B.1001526
40 E Horizon Ridge Pkwy, Ste 101
Henderson, NV 89002
(702) 509-1446
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(702) 948-4910 fax