Buying a Home in Las Vegas, Henderson and Summerlin

How buying a home works, step by step

Every purchase is a little different, but most follow the same path. Knowing the order of things helps you plan your money and your time, and it takes much of the stress out of the process.

• A first conversation about what you need, where you want to live, your budget, and your timeline
• A pre-approval from a lender, so you know what you can comfortably afford
• A written agreement with your agent that explains how we work together
• Searching and touring homes that match your list
• Writing an offer and negotiating price and terms
• Escrow, which includes your inspections, the appraisal, the seller's disclosures, any HOA documents, and your loan approval
• A final walk-through, signing, and closing, when ownership transfers to you

Start with a conversation about your goals

Before we look at a single home, we talk about how you want to live. How many bedrooms do you need today, and in five years? Do you want a yard, a pool, a view, or a short commute? Are you drawn to a golf community, a quiet street, or walkable shopping? Do you want a home that is move-in ready or one you can update over time? Those answers shape everything that follows, including which part of the valley to search.

We also talk about timing. Some buyers need to be in a home by a certain date, others are waiting for a lease to end or a home to sell, and others can take their time. Knowing your timeline helps us decide how quickly to move and how much flexibility to build into an offer.

Pre-approval and loan options

A pre-approval is a lender's review of your income, assets, credit, and debts, ending in a letter that states how much you can borrow. It is different from a quick pre-qualification, which is usually based on numbers you simply report. Sellers take a pre-approval much more seriously, and in a competitive situation an offer backed by a strong pre-approval is easier for a seller to accept.

A good lender will also explain the loan types available to you, the down payment each requires, and the monthly payment you can expect, including taxes, insurance, and any HOA dues. If you do not have a lender yet, our Local Resources page lists loan officers our clients have worked with. You are always free to choose your own, and we suggest talking with more than one.

Common loan types

Conventional loans are not backed by a government agency. Loans that Fannie Mae and Freddie Mac buy must fit under the conforming loan limit, which the Federal Housing Finance Agency sets every year. For 2026 the baseline limit for a one-unit home is $832,750, and loans above the limit that applies where you are buying are called jumbo loans, which can have different requirements.

FHA loans are insured by the Federal Housing Administration. Under HUD's rules, the borrower must make a required investment of at least 3.5 percent of the lesser of the appraised value or the sales price, and a borrower with a credit score at or above 580 is eligible for maximum financing. Other programs exist for eligible veterans and for buyers in certain income ranges, and a lender can tell you which you may qualify for.

Your Loan Estimate and Closing Disclosure

Federal rules give you two standard forms. A lender must send you a Loan Estimate within three business days after you submit a mortgage application, and it lays out the rate, monthly payment, and costs in a format that is easy to compare between lenders. You must receive the Closing Disclosure at least three business days before closing, which gives you time to compare the final numbers with the estimate. We go through both with you and ask your lender about anything that has changed.

Your agent agreement and how agents are paid

Since August 17, 2024, agents who use a multiple listing service must have a written agreement with a buyer before touring a home with them, whether in person or by live video. The agreement must state the agent's compensation clearly, as a flat fee, a percentage, an hourly rate, or $0, and not as an open-ended amount. It must also include a conspicuous statement that broker fees and commissions are fully negotiable and not set by law.

Paying your agent is up to the agreement you sign. In many transactions the seller or builder offers to pay some or all of the buyer's agent compensation, and you can still ask for that, but what you owe depends on the agreement, so we confirm how it works for each home before you make an offer. We explain all of this in plain language before you sign anything, and you are free to ask questions or negotiate the terms.

Nevada adds its own protections. Nevada licensees must give clients a written "Duties Owed by a Nevada Real Estate Licensee" form, which the Nevada Real Estate Division's Residential Disclosure Guide says must be presented before the client signs any documents. It states that a licensee must deal honestly, use reasonable skill and care, disclose material facts about the property, and disclose each source of compensation. If a licensee ever acts for more than one party, Nevada has a separate "Consent to Act" disclosure.

Searching and touring homes

We start with what matters most to you, such as location, size, yard, commute, and monthly budget, and then narrow down areas. If you are still choosing a part of the valley, our guides to Summerlin, Henderson, and Las Vegas cover the communities buyers ask about most, and each links to detailed neighborhood guides.

Tell us what you are looking for and we will send you homes that fit and arrange tours. Our Listings page shows the homes we currently have on the market. When you tour, we look past the staging to the things you cannot change later, such as the lot, the floor plan, the street, and what is nearby. Our article Look Past the Paint explains how, and Don't Wait for the Perfect House helps you separate must-haves from nice-to-haves.

Visit promising homes more than once if you can, at different times of day. Traffic, noise, light, and the feel of a street can change between a Tuesday morning and a Saturday night, and a second visit often shows you things the first one did not.

Writing an offer that works

Price is only part of an offer. Sellers also weigh your earnest money deposit, how long you ask for inspections, your financing, the closing date, and any requests for repairs or credits. A slightly lower price with cleaner terms can beat a higher price loaded with conditions, and the reverse can be true as well.

Before you write an offer, we look at recent comparable sales and at what similar homes are doing on the market, then explain where we think the price should land and why. We handle the negotiation on your behalf, including counteroffers. For more on this, read The Lowest Offer Isn't Always the Best Deal.

The parts of an offer

Every offer is built from the same pieces, and each one is a chance to make yours stronger or safer for you:

• The price you are willing to pay
• Earnest money, a deposit held by the escrow company and generally credited to you at closing
• The inspection period, which is the time you have to inspect the home and negotiate repairs or walk away
• The financing terms, including your loan type and your pre-approval
• The closing date and when you take possession
• What stays with the home, such as appliances, window coverings, or equipment
• Any requests for repairs or seller credits

Contingencies protect your deposit

A contingency lets you cancel and recover your deposit if a specific condition is not met, such as a satisfactory inspection, a home appraised at or above the price, or loan approval. Each has a deadline, and missing one can put your deposit at risk. We track every date for you and explain what each one means. Waiving or shortening contingencies can make an offer more attractive to a seller, but it also increases your risk, so we talk through each choice before you decide.

Escrow: inspections, the appraisal, and your paperwork

After your offer is accepted, the home goes into escrow, and an escrow company holds the money and documents until closing. This is when you do your homework. Escrow commonly runs about 30 days, though cash purchases can be faster and some loans or situations take longer.

We strongly recommend a full home inspection, and in the desert there are extra items worth checking, such as the air conditioning system, roof, windows, pool equipment, and any solar system. Our article Never Skip the Home Inspection explains what inspectors cover and how to use the report. Your lender orders an appraisal to confirm the home supports the loan amount. If you use an FHA loan, Nevada's disclosure guide notes that the FHA appraisal inspection has limits and recommends getting your own home inspection.

The Seller's Real Property Disclosure

For most resale homes, the seller must complete a Seller's Real Property Disclosure form describing the condition of the property and any known defects, and must provide it to you at least 10 days before the property is conveyed. A real estate licensee may not complete the form for the seller unless the licensee is the seller. If you do not receive a properly completed form, you may rescind the contract without penalty, and a buyer who closes without a completed form or when a known defect was not disclosed may be entitled to damages under NRS 113.150.

The state's guide is also clear about the limits: the disclosure is not a guarantee, and it does not replace an inspection. A seller only has to disclose defects the seller knows about, and if the seller has never lived in the home, the form may say little. It is a useful document, and your own inspection fills in the rest. This form is not required for the first sale of a newly built home, which has its own rules. See our page on new construction.

HOA documents and your right to cancel

If the home is in a homeowners association, Nevada law gives you a valuable tool. The seller provides a resale package at the seller's expense, and you generally have until midnight of the fifth calendar day after you receive it to cancel in writing and get your deposit back. The package includes the declaration (CC&Rs), bylaws and rules, the budget and a summary of reserves, and a resale certificate that describes any unsatisfied judgments, pending legal actions, and current and expected fees. Five days goes quickly, so we read it with you right away. Check the HOA Before You Commit shows what to look for.

Other disclosures you may receive

Depending on the home, the Nevada Real Estate Division's Residential Disclosure Guide lists a number of other notices a buyer can receive. Examples include a lead-based paint disclosure for homes built before 1978, a private transfer fee notice, a military activities notice (the military files activity plans in Clark County), an airport noise notice, a pool safety notice, and information on any construction defect claim or lawsuit involving the home. If the home has solar, our guide Understand the Solar Before Buying the House explains owned, financed, and leased systems and the paperwork that goes with each.

For homes built before 1978, federal law requires the seller to disclose any known lead-based paint information, give you a pamphlet, and give you a 10-day opportunity to test for lead-based paint hazards.

The costs to plan for

Budget for more than the down payment. Common costs include the earnest money deposit, which is credited toward your purchase, the inspection and any specialty inspections, the appraisal, loan and lender fees, escrow and title charges, prepaid taxes and insurance, and any HOA transfer or capital fees. Your Loan Estimate and Closing Disclosure itemize most of these, and we go through both with you.

Locally, the Real Property Transfer Tax in Clark County is $2.55 per $500 of value, collected by the Clark County Recorder when the deed is recorded. By long-standing local custom the seller usually pays it, and escrow fees are often shared, but the purchase agreement controls who pays what. We confirm every cost allocation in your contract.

Property taxes in Clark County

The Clark County Assessor values property every year. The assessor's taxable value is based on the market value of the land plus the replacement cost of the improvements less statutory depreciation, so it is not the same as the price you paid. The property is assessed at 35 percent of taxable value, and the tax rate depends on the tax district where the home is located.

Nevada also limits how fast a tax bill can rise. For an owner's primary residence, the increase is capped at 3 percent a year, while a cap of up to 8 percent applies to residences that are not owner-occupied. The Assessor mails a Tax Cap Abatement Notice to residential owners who buy after July 1, and you can claim the primary residence cap by returning it. New construction does not receive a cap in its first fiscal year. Newer communities can also have special improvement district assessments, which appear on the tax bill. We ask about them for every home, and a tax professional can confirm how it all applies to you.

The monthly picture

Think about ongoing costs too. Property taxes, homeowner's insurance, HOA dues, landscaping and water, and summer cooling bills all belong in your monthly budget. Our Las Vegas guide covers the valley's watering rules, and if you are considering a home with a pool, note that Southern Nevada's water authority supports a 600-square-foot surface area limit on new residential pools, which local jurisdictions have adopted. The limit applies to new pools, not existing ones.

Closing and after you get the keys

In Nevada, closings are handled by an escrow and title company. They collect your funds, make sure each party's instructions are carried out, and record the deed. We stay in touch with escrow, your lender, and the other side throughout, so you are not chasing paperwork.

Before closing you do a final walk-through to confirm the home is in the agreed condition and any negotiated repairs are done. Remember that you must receive your Closing Disclosure at least three business days before closing. At closing you sign the loan and transfer documents and bring the funds your escrow officer requests, and the deed is then recorded.

After closing, our Local Resources page can help with the next steps, from inspectors and contractors to utility companies for turning on service. Watch your mail for the Assessor's Tax Cap Abatement Notice, and keep your closing documents together for future tax and insurance questions.