Buying a Home

Nevada has many real estate opportunities, whether it be residential, commercial or land sales, Brian Hartsell provides the experience and knowledge to complete any purchase with ease.

If you are interested in learning more about a particular property or are interested in finding a property that best suits your needs, please call Brian at 702-914-6567.

Brian has put together an extensive outline of how Real Estate could be purchased in Nevada. He feels that it is imperative for the prospective buyer to be comfortable with the process involved in their next purchase.

INFORMATION IS ALWAYS KEY

Please use our outline to walk yourself through the typical transaction. (Transactions can very depending on each buyers specific needs)

STEP 1: Loan Pre Approval
It is imperative that the prospective buyer has documentation qualifying them for the purchase. Not only does this provide leverage when negotiating for a sales price, it also sets the buyer at ease with information regarding monthly payments, taxes and insurance regarding the property.

The process is simple, a buyer will be introduced to the lender of their choice. This lender will assess the buyers financial status in relation to their future purchase. The pre approval process can be completed over the phone in as little as 10 minutes. The lender will provide a pre approval letter that informs the prospective buyer exactly how much the future loan amount can be, as well as what monthly payment on the purchase can be expected.

Not only does this process allow the prospective buyer to narrow their search for a property according to price, it also provides the prospective buyer with leverage in the purchase of the property. A seller will always consider a buyer with loan approval, but sellers are always weary of buyers without any form of guarantee of the intent to purchase.

For loan approval and more information about obtaining a home loan please visit www.randylund.com

STEP 2: Locating a Property
All prospective buyers are encouraged to complete a buyers questionnaire. This form allows the real estate professional to access only the most compatible properties. Every avenue will be approached in finding the best overall property for the buyer.

After compatible properties are found the agent will put together a package of information on the prospective properties for the buyer. The prospective buyers are then encouraged to view the selected properties, sorting through by the outside appearance. After choosing which properties have the best location and external appearance, the sales agent will escort the prospective buyers to view the inside of the properties.

Prospective buyers will choose the property that best suits their needs. After a property is located the sales price of the property must be determined. (see next step)

STEP 3: Determining a Price
The real estate professional uses the practice of Comparative Market Analysis to obtain the most objective purchase price possible. This process includes assessing all properties sold that are like the property being purchased. All financial considerations will be taken into account at this time. All concerns about the properties condition should be taken into account to better determine the price.

STEP 4: The Purchase (Negotiation)
After determining a price, the contract will be written. This contract will be explained in full detail to the prospective buyer. All concerns related to the properties purchase should be addressed before the contract is written. (Such as: Association fees, Restrictions for the community, etc...) Once the purchase contract is signed by the buyer the offer is then presented to the seller of the property. The seller of the property will either except or counter the original offer. This process will take place until both parties come to an agreement.

The contract becomes valid after both buyer and seller sign.

STEP 5: Opening Escrow
After the purchase contract is signed by all parties the escrow process will commence. Nevada is a title state, this means that all transfer of title must take place through an escrow process. Think of title or escrow companies as a transfer or holding center for the title of the property being purchased. Brian will open escrow with one of the premier tile companies in Nevada. Opening escrow will allow a preliminary title report to be completed making sure the property contains no liens or clouds on its title. Brian will inform the client as to exactly how their particular purchase contract will unfold into the overall escrow process.

STEP 6: Close of Escrow
The contract will state the close of escrow date. All necessary preparation should take place before this date. All inspections, appraisals and warrantees should be in place for the close of escrow to be completed. An appointment for signing will be scheduled on or before the set date of the close of escrow. This signing date will be made through Brian Hartsell.

After signatures are completed the recording process will take place. At this time, the arranged purchase price transfers from the buyer to the seller. After the purchase is recorded the buyer will hold all interest in the property.

If you have any additional questions, please contact Brian Hartsell at 702-914-6567, by fax at 702-446-0316, or email him at brianhartsell@hotmail.com.

All information is deemed accurate and reliable however it is not guaranteed
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