Thinking of Becoming a Home Buyer?
We'll walk you through the steps!
When it comes to buying a home there's a lot that needs to get done. It can be overwhelming and if it's your first time you might not even know where to start. Many different professionals are involved in the home buying process: real estate agents, lenders, inspectors, and escrow. All of these will play a role in your home purchase. You will find out what each of their roles is in the steps below.
LYONS SHARE will guide you through the steps in PURCHASING your LAS VEGAS dream HOME:
OBTAIN MORTGAGE PRE-APPROVAL
After contacting us, this is usually the first step in the home buying process. You get pre-approved for a mortgage loan from a financial lending institution. If you don't have a lender, contact us and we will recommend a quality lender.
SEARCHING THE MARKET
Time to shop around with your real estate agent, that's us. Once we have an idea of your criteria for a home selection, we can set up automated email alerts to keep you informed of new listings and price reductions of qualified properties.
SUBMIT AN OFFER
When we find a home that fits your needs we make an offer with an earnest money deposit.
RECEIVE ACCEPTED OFFER
When a seller accepts your offer you have a binding contract for the sale and purchase of real estate.
ORDER HOME INSPECTION & APPRAISAL
This should be done within 4-7 days of accepted offer. Response to the seller is generally due within 2 days. An appraisal determines the value and is critical in the buying process. It ultimately determines your financing for the property to make sure you're not overpaying more than what it's worth.
FINAL MORTGAGE APPROVAL
Commitment from the lender to finance your mortgage. Usually occurs 20-25 days after the offer is accepted.
CLOSE OF ESCROW
This final step includes signing loan documents & paperwork and wiring funds or presenting a cashiers check for the balance of closing costs. This takes place at an escrow company, a neutral third party legal assistant that handles the transaction between buyer and seller.