How to SPEED UP the CLOSING Process for LAS VEGAS Real Estate
“Guess what? There are some insider tricks to speed up your home closing that usually only top realtors know. Well, today’s your lucky day because I’m spilling all the secrets! But first, I’m super curious—what worries you the most about the closing process in real estate? Pop your thoughts in the comments below!”
The Importance of Pre-Approval
First and foremost, get pre-approved for a mortgage before you start house hunting. There is a big difference between being pre-qualified and pre-approved. Pre-approved means you have taken the additional steps to submit required documentation to the lender. It means the lender has verified the document you submitted like your income and assets. This is a much stronger letter to provide when submitting an offer. This step is crucial because it shows sellers that you’re a serious buyer and that financing won’t hold up the deal. It also gives you a clear understanding of your budget, which helps us focus on properties you can afford. By taking these additional steps before finding a home, you will save time and disappointment. I have had several times where a pre-approved buyer with a strong offer was able to close quickly and that helped with the negotiation with the Seller.
Property Search and Search through MLS
When it comes to finding your home, it’s all about efficiency. I work closely with my clients to narrow their search, so we avoid wasting time touring homes that aren’t a good match. Then I set up a search right from the MLS (Multiple Listing Service) so we both get an email once a property that fits your needs comes on the market. This is a big deal when there is low inventory as the good properties sell quickly. Online websites such as Zillow and others have a delay. The home may not appear for up to 24 hours after being listed in the MLS. I have clients that within 24-hour time frame, we have already seen the home, written an offer and are in contract. Time is of the essence!
Be responsive to Time frames in the contract
Staying on top of contractual time frames is critical to keeping the process moving. Be mindful of deadlines for the home inspection, appraisal, and other key milestones to avoid delays. Upon acceptance, you will need to deposit the earnest money quickly. Buyers usually wire the funds to the title company. Our contract has a due diligence period that is commonly 7-12 days starting upon acceptance. This is the timeframe to schedule the home inspection AND negotiate repairs. It is key to get the inspection completed quickly so you have plenty of time to negotiate repairs. As a listing agent, I often see buyers’ agents scheduling the inspection a week out and then needing more time and asking my seller to extend the due diligence time frame.
For my Sellers, Nevada Law requires the Seller to pay for and provide the buyer with the HOA resale package. The HOA can take up to 10 business days to provide this information and the buyer can cancel for up to 5 days after receiving it. You want to order this package immediately upon acceptance. Delaying in ordering can cause problems in the deal and the buyer could cancel clear up to close of escrow if they have not received it. I help my clients every step of the way. For my buyer clients, we open escrow immediately and get the instruction so you can wire the earnest money and we help provide home inspectors and schedule the inspection quickly. For my Sellers, we are ordering the HOA resale package and making sure timeframes are met. We have a portal for our clients to see all of the timeframes of the contract and the next step. Our clients love it as they know exactly what is happening and what to expect next.
Having been in the business for over 28 years, I have sold thousands of listings for my seller clients. I have learned over the years how to sell homes in any market. You do so by focusing on the things you can control. We can’t control current market supply or demand; we can’t control interest rates or even unexpected things such as how Covid impacted real estate. However, there are some things you can control so let’s focus on those items.
Home Preparation and Staging
Buying is emotional. Buyers will walk through and envision their family living in the home and how they will enjoy it. As an Accredited Staging Professional, I walk through your home and show you how to present it in the best light. We start in the front yard. How is the curb appeal? Buyers are going to start forming an opinion of your home as soon as they pull up. I keep 10 – 15 brand new welcome mats in my garage for my Sellers to have. We want the first impression of your home to be welcoming. Kitchens and bathrooms are important. Remove all non-decorative items off the counters. Put away any personal pictures and items throughout the home. Homes that are clean, decluttered and staged often sell faster and for higher prices.
Effective Marketing Strategies
This is where the agent you choose is so important. You want an agent that is going to provide National exposure and put your home in the best light to attract buyers. Over half of the buyers relocating to Las Vegas and Henderson are coming from California.
Start by using high-quality images and video tours. Professional photography highlights key features and unique selling points. Depending upon the home, I often have my photographer take drone shots and twilight tours. We utilize those photos by posting the property on over 1,000 websites including almost 20 different internet sites. We utilize social media by creating a post to highlight your home on Facebook, Instagram and other social media. We boost the post of Facebook so your home add is in front of potential buyers.
And of course, we will feature the home on YouTube. I understand the importance of videos. The goal is to attract serious buyers who are ready to make decisions quickly.
I have been with the same company since I got my license in 1996. I love Berkshire Hathaway HomeServices because of the National exposure it can provide to my Sellers. I create an eblast and send to agents with my company. With over 50,000, my listings are marketed to agents all over the world!
Price It Right from the Start
One of the biggest mistakes sellers make is overpricing their home. Pricing your home too high can result in it sitting on the market too long, which can make buyers think something’s wrong with it. I use a Comparative Market Analysis (CMA) to help set a realistic price. Look at the recent sold prices but also really look at the comparable listings that are sitting on the market. The available inventory tells you more about what is currently happening in the market. Trust your realtor’s guidance here—pricing it right from the start is crucial for attracting serious buyers. You will get a lot of momentum right when the home goes on the market. Buyers see the sign go up, they see it pop-up online on Zillow or Real estate websites. They see it come up on saved searches. If the home shows well and is priced well, you will get more momentum to sell close to the list price. The longer the home is on the market, the less likely it is to get a list price offer.
If you’re ready to buy or sell a home in Las Vegas or Henderson and want a smooth and efficient process, I’m here to help! Whether you’re looking to sell your home quickly and for top dollar or find your dream home with minimal hassle, let’s connect. I offer a free consultation to discuss personalized strategies tailored to your unique needs and goals. Contact me today, and let’s make your real estate experience seamless and successful!
