The Las Vegas real estate market is surging ahead once again, and that’s a good thing for many Las Vegas home owners.
On the flip side, higher-end buyers need to be prepared to act swiftly, should they find the home of their dreams. Don’t let that dream home get snatched away by “better buyers” who were more organized, thoughtful and innovative than you. Below is a quick checklist of strategies and points to help you land the house you want.
1. Understand your market
This may seem too obvious to mention, but it is key. This is not just about knowing the Las Vegas real estate market, but even more so about being aware of the specifics in the exact neighborhood in which you’re looking, as there may be differences between the two.
2. Do your homework on your REALTOR®
This is the person who represents you and who will be instrumental in you getting your dream home—or not. Ask for referrals from friends who are experienced in Las Vegas real estate and references from your prospective realtor; if you feel good about this person after doing your homework, you will know you have found the right agent.
3. Understand the money side of things
There are a couple things to remember. First, there are a lot of cash buyers in the Las Vegas real estate market these days, so if you also have cash, it is important to not overestimate your power to negotiate or sweep in for the kill. Second, if you are not a cash buyer, it is important to make yourself as appealing as possible, and that can be accomplished by showing the buyer that you are as close to a sure thing as is possible. For instance, you can offer proof that you have more than enough cash to make the down payment by getting an official account statement from your bank. If you want to go a step further, you can also obtain a desktop underwriter approval letter, which is a rigorous computer analysis of your finances that carries even more weight than a pre-approval letter from your bank.
4. Keep your home offer simple
Including a list of demands along with your offer in this competitive Las Vegas real estate market can be a deal-breaker. It is your money, so no one can tell you what is or is not important to you, but you have to realize that the more challenging you make this for the buyer, the less likely it is that you will be successful. Ask yourself if it those little things really matter in the long run.
5. Be Human
In these times of automation and cold, hard credit scores, it never hurts to add personal touches to the proceedings. You can do this in a number of ways, including drawing up and sending a cover letter to the buyer that outlines the details of your offer, having your realtor deliver the offer in person, and following up afterward.
Ultimately, there is never certainty in the home-buying process until the deal is done, and you should remember that every step of the way. However, being the most prepared you can will give you the best chance for success.
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