Nearly 62% of Nevadan households own their homes, while the rest rent. Have you worked hard for the past couple of years to prepare to become a homeowner like the majority of people in your state?
If you think you’re ready to buy a house, you might want to talk to a Summerlin real estate agent to learn more about the process.
Real estate agents know real estate and can answer your questions and help you through the process. But what questions should you ask?
Check out this guide to learn about five vital questions to ask your Summerlin realtor.
1. How is the Current Market Condition?
When you initially speak with a Summerlin realtor, you might want to begin by describing your desires. For example, you can explain what type of house you want to find and your budget.
Next, you can ask about the current home-buying trends. In other words, how is the current market condition?
The market condition reflects several essential qualities to know about real estate right now. First, it tells you about the current home buying prices. For example, are they high or relatively low right now?
Next, the market conditions reveal the inventory. For example, are there lots of homes for sale or not?
Supply and demand play a critical role in real estate. When supply is high, prices tend to drop. However, when supply falls, prices increase.
You can learn a lot about what to expect from the housing market by discussing these things. Then, if you find a good agent, they’ll have all the answers you need to decide if you should buy a house now or wait.
2. How Much Does It Cost to Buy a House?
You might have a budget in mind as you begin discussing your needs with a real estate agent, but you might have questions about the costs. Most first-time homebuyers want to know how much it costs to buy a house.
The primary cost is the home price, and you can determine your budget for the price if you haven’t already.
Next, you’ll have to pay for the closing costs. The closing costs vary when purchasing a home. However, you won’t have to pay for the real estate commissions, as homeowners pay these costs.
You will have to pay other fees, including the following:
- Loan fees
- Inspection costs
- Appraisal fees
- Moving costs
- Homeowner’s insurance premiums
Your agent might suggest asking your lender for a fee statement to learn more about the fees you’ll pay with your loan. Then, your agent can help you learn more about all the other costs.
3. What Steps Can You Take for Protection?
The best real estate agent in Summerlin can help you learn more about the steps you take for protection when buying a home. A home purchase might very well be the costliest asset you ever buy. Therefore, you need protection.
So what are the best ways to protect yourself when buying a house? Your agent might suggest that it begins with a thorough purchase offer.
Your agent helps you write a purchase offer when you find a home to buy. You can include contingencies in this offer, and these give you a way out of the deal without the risk of losing money.
For example, agents always recommend inserting an appraisal contingency. This condition states that you can void the deal if the home’s appraisal is less than the offer amount.
You can also include a home inspection contingency, mortgage loan contingency, and others. Each of these steps provides the protection you need when buying a home.
4. What Are the Steps Required for Buying a House?
Finally, you might want to ask the agent about the steps required in the home-buying process.
The agent will probably suggest starting by finding the top agent in Summerlin. After all, a great agent makes the process simpler and smoother.
Next, they’ll suggest getting preapproved for a loan. Buying a house with a mortgage involves a third party – the lender. Lenders have rules and protocols borrowers must follow, and you must get preapproved to start shopping.
The next part of the process is shopping for a home. During this step, you get the chance to tour homes for sale. Of course, you can tour as many as you’d like before you’re ready to commit to one.
When you find the home you want to buy, your agent will help with the remaining steps, which begin with a purchase offer. Once the seller accepts the offer, you can begin working on all the closing steps.
Contact a Summerlin Real Estate Agent to Learn More
When you’re ready to buy a house, you can contact a Summerlin real estate agent to learn more about the process. You can ask these questions and others and then start shopping for the right home to purchase.
Are you ready to start the process? Contact us at Charles Eshnaur Real Estate Services in Las Vegas at (702) 408-8384. You can also visit our website to reach us!