Have you decided to sell your Las Vegas home?

When you plan to sell Las Vegas homes, try to place it on the Las Vegas real estate market in advance so you can wait for the best price for your Las Vegas home. You don't want to find the perfect home that you want to move in and be stuck with two mortgages, trying to sell your existing home. In the event this does happen, you may be able to qualify for a bridge loan to help bridge the gap, inquire with me and I can help you in this situation to make the double payments as your Las Vegas real estate agent. Mortgage lenders use the same qualifying criteria for offering bridge loans as they use for Las Vegas home mortgages. As your Las Vegas realtor, I have mortgage lenders that can help you to find the best interest rates for Las Vegas mortgages, bridge loans, adjustable rate mortgages - ARM loans, balloon loans, FHA loans, VA loans, fixed rate mortgages, and other creative loans.

When you are moving, make sure to account for the time for closing and moving dates have to be coordinated. If everyone adheres to the moving dates, that is fine, but many times there needs to be flexibility in the arrangements. Always make sure that all real estate agreements including the move in dates and move out dates are put in writing, and protect yourself by negotiating financial penalties for failure to comply.

You are probably excited and nervous about a big real estate transaction like this. You may be looking forward to moving up to a new dream, another Las Vegas house or facing the uncertainty of a major move across country. You may be reluctant to leave your memories behind or eager to start new adventures. Whatever turbulent feelings you're experiencing right now, there are plenty of practical matters that need your attention. Keep in mind the following considerations to help the whole process go more smoothly.

Does Your Las Vegas Home Have Curb Appeal?

A Las Vegas home that's visually appealing and in good condition will attract potential buyers driving down the street. Use this checklist to view your property through an outsider's eyes.

Are the lawn and shrubs well maintained?
Are there cracks in the foundation or walkways?
Does the driveway need resurfacing?
Are the gutters, chimney and walls in good condition?
Do the window casings, shutters, siding or doors need painting?
Are garbage and debris stored out of sight?
Are lawn mowers and hoses properly stored?
Is the garage door closed?
Inside Your Las Vegas Home

Strong curb appeal will lure potential buyers inside, where you have to live up to their expectations. Fortunately, there are plenty of easy improvements you can make to your home's interior without spending a lot of money. Cleaning is No. 1. Your windows, floors and bathroom tiles should sparkle. Make sure you have clean heating and air conditioning filters. Shampoo dirty carpets, clean tubs and showers, repair dripping faucets and oil squeaky doors. Keep your home neat, clean and picked-up at all times. It may not seem fair, but a peek in the oven may be the hallmark by which a buyer judges how well you have kept up your Las Vegas home.

Remove unnecessary clutter from the garage, basement, attic and closets. Also remove any items that might make a statement that would be offensive to others who may not share your same views, beliefs or sense of humor. If your Las Vegas home is crowded with too much furniture, consider putting some things into storage. If a room needs a fresh coat of paint, use a neutral off-white. Think, too, about how your home smells. You may be used to the smell of a pet or cigarettes, but such odors can be a strong turn-off to others. Be certain to remove valuables such as jewelry and other items from view. It might be wise to put these items in a safe deposit box before showing your Las Vegas home. Finally, set a mood for the buyer. Make your house homey with live flowers and fresh guest towels in the bathroom. Place scented potpourri around the house or, on the day you're expecting a potential buyer, pop a batch of frozen cinnamon rolls into the oven for a welcoming aroma.

Remember, cosmetic changes do not have to be expensive. In fact, costly Las Vegas home improvements do not necessarily offer a good return on your investment when you sell. It's attention to the basics -- anything that says "this home has been carefully maintained" -- that will help you get the price you want.

For Sale By Owner or Hire A Las Vegas Real Estate Agent?

Some homeowners decide to sell their Las Vegas homes themselves in order to save the commission charged by a real estate agent. The commission rate may vary, depending on where you live or what agency you choose, but it is generally upwards of 5%. However, handling your own sale means you will be responsible for placing ads, answering phones and showing your home to strangers. What's more, buyers who know you are saving on an agent's commission may offer less for your Las Vegas home, wiping out the financial incentive to do it all yourself.

You may decide an agent's commission is a bargain the first time that a would-be buyer shows up unannounced at dinnertime. Also, be aware that a real estate agent probably knows a lot more about the business of selling a Las Vegas home than you do. Here are some of the advantages professional agents offer:

They will help you establish a fair asking price for your Las Vegas home.
They will promote your Las Vegas home to other agents and list your property in multiple listing services. A multiple listing service is a book or computer database that all real estate agents who subscribe to the service can access. Your home will get exposure to all those agents, one of whom may have the perfect buyer.
They will create, pay for and place advertising for you.
They will schedule appointments to show your Las Vegas home to prospective buyers even when you are not there.
They can weed out buyers who will not qualify for a Las Vegas mortgage.
They can refer you to sources for insurance, inspections, legal counsel and financing.
They will help you negotiate with the buyer.

If you decide to sell through an agent, ask friends and neighbors for recommendations. Talk to several agents before picking the one you want to work with. Taking a walk through your Las Vegas home with an agent should give you a feel for how that person will handle prospective buyers. Ask prospective agents how they plan to market your Las Vegas home. Don't sign with an agent just because he or she suggests the highest asking price. Negotiate the broker's commission prior to listing your Las Vegas home, and sign for a limited period of time -- usually three to six months.

Determing Your Las Vegas Home Value - Determining A Fair Home Price

Naturally, you want to get top dollar for your Las Vegas home. But, at the same time, you don't want to scare off potential buyers with a price tag that's too high. Setting an artificially high price may cause your property to languish on the market for months. Reducing your asking price later on may lead buyers to wonder if there is something wrong with your Las Vegas home. Here are some of the factors to consider in pricing your Las Vegas home including North Las Vegas, Henderson, Green Valley, Summerlin, Mesquite, Boulder City, South Las Vegas, West Las Vegas, East Las Vegas, South East Las Vegas, Southwest Las Vegas, and Northwest Las Vegas.

Your location
Economic conditions
Supply and demand in the local housing market
Seasonal influences
Local schools
Average home prices in the neighborhood
Your home's extras -- pool, fireplace, central air, etc.

To determine the value of your Las Vegas home, you probably will want the advice of a real estate agent or Las Vegas appraiser. Ask an agent to prepare a market analysis for you, showing the recent selling prices of three neighborhood properties comparable to your own. The agent can help you adjust for the unique features of your own property.

Qualifying A Las Vegas Home Buyer

Either you or your agent will want to quickly weed out potential buyers who cannot really afford to purchase your Las Vegas home. A number of factors will help determine whether or not you are wasting your time negotiating a sale.

The buyer's debt and credit history
The buyer's current income and employment
The buyer's cash position and availability of a down payment
The length of time the buyer needs before closing on your Las Vegas home
How interested the buyer appears to be in your Las Vegas home versus others

Seek a Las Vegas real estate lawyer

When selling your Las Vegas home -- particularly if you are selling on your own -- it's a good idea to be represented by an Las Vegas real estate lawyer. Look for an real estate lawyer with expertise in real estate transactions. When a potential buyer puts an offer in writing and you accept it, the signed acceptance becomes the sales contract. Your real estate lawyer will be present at the actual closing to protect your interests and can assist you with the following elements of a sales contract:

The sale price
What is included in the sale price -- draperies, carpeting, light fixtures, heating oil, etc.
The amount of the down payment
The date of settlement and possession date
Contingencies to the sale--inspections (e.g. structural, lead-based paint, radon), required improvements, legal review of the contract by the buyer's or seller's lawyer, etc.
The amount and length of the Las Vegas mortgage loan, interest rate and time limits to secure the loan
Determining which closing costs are to be paid by the buyer and which by the seller

Tax Considerations

Selling a Las Vegas home can have a major impact on your federal and state tax returns. Check with your Las Vegas tax consultant on the factors that may affect taxes resulting from the sale of your Las Vegas home. For example:

Whether you purchased the Las Vegas home or acquired it by gift or inheritance
Whether you used your Las Vegas home partly for business or rental
Costs associated with selling your Las Vegas home
Home improvements or additions, which may help to offset capital gains
The sale of your Las Vegas home. In certain cases you can exclude up to $250,000 in gain ($500,000 for married couples filing a joint return) on the sale of property that was your principle residence for at least two years. Generally, you can use this exclusion every two years.