A Step-by-Step Guide to Buying a Home in Las Vegas & Southern Nevada
Buying a home is exciting.
But it is also a serious financial and legal commitment.
There will be contracts.
Deadlines.
Inspections.
Financing requirements.
Disclosures.
Negotiations.
Thousands of dollars changing hands.
And decisions that could affect your finances for years.
That is why I do not believe in rushing buyers through the process.
I believe in helping you understand it.
The Good Energy approach to buying a home is simple:
Prepare carefully.
Ask questions.
Understand the numbers.
Protect your options.
Make decisions calmly.
Negotiate strategically.
And when the time is right…
move forward with confidence.
TOMMY XAVIER NGUYEN
The Good Energy Realtor®
Nevada Real Estate Salesperson
NV Lic. #S.0204577
START HERE
THE ENTIRE HOME BUYING PROCESS AT A GLANCE
I like to divide the journey into four phases.
PHASE 1 — PREPARE
1. Understand your finances
2. Speak with a lender
3. Get pre-approved
4. Establish your comfortable budget
5. Meet with your Realtor
PHASE 2 — SEARCH & OFFER
6. Define your home search
7. Tour properties
8. Research the home and area
9. Analyze value
10. Write and negotiate an offer
PHASE 3 — UNDER CONTRACT
11. Deposit earnest money
12. Complete inspections and due diligence
13. Review seller disclosures
14. Review HOA documents when applicable
15. Complete appraisal and loan underwriting
16. Resolve remaining contingencies
PHASE 4 — CLOSE
17. Obtain final loan approval
18. Review your Closing Disclosure
19. Complete the final walkthrough
20. Sign closing documents
21. Fund and record
22. Receive your keys
GOOD ENERGY RULE #1
DO NOT START WITH THE HOUSE.
Start with your finances.
One of the biggest mistakes buyers make is opening Zillow, falling in love with a home and only afterward asking:
“Can I afford it?”
I prefer to reverse that process.
Before we search seriously, we should understand:
What you can qualify for.
What you are comfortable paying.
And importantly…
Those are not necessarily the same number.
A lender may approve you for a certain mortgage amount.
That does not mean you should automatically spend the maximum.
Your mortgage has to coexist with:
Travel.
Retirement.
Children.
Cars.
Food.
Savings.
Emergencies.
Entertainment.
Your business.
And the rest of your life.
I want you to own your home.
I do not want your home to own you.
STEP 1
UNDERSTAND THE TRUE COST OF HOMEOWNERSHIP
Your purchase price is only one number.
Your monthly housing expense may involve:
Principal
Mortgage interest
Property taxes
Homeowners insurance
Mortgage insurance, if applicable
HOA assessments
Master association assessments
SID/LID or other assessments where applicable
And then there are the costs that do not necessarily appear in the mortgage payment:
Utilities
Maintenance
Repairs
Landscaping
Pool maintenance
Home warranty, if purchased
Furniture
Improvements
Emergency reserves
This is why I ask buyers:
“What payment feels comfortable?”
rather than simply:
“What is the most you can qualify for?”
Fannie Mae likewise advises buyers to consider not only the down payment but mortgage closing costs, insurance and the ongoing expenses of homeownership when determining affordability.
GRAPHIC IDEA: THE TRUE MONTHLY PAYMENT
Use a Good Energy graphic here with a house in the middle surrounded by:
MORTGAGE
TAXES
INSURANCE
HOA
MORTGAGE INSURANCE
UTILITIES
MAINTENANCE
At the bottom:
PURCHASE PRICE ≠ MONTHLY COST
STEP 2
GET PRE-APPROVED
For most financed buyers, this is the real beginning of the purchase process.
A mortgage lender reviews your financial circumstances to determine what loan options may be available to you.
They may review things such as:
Income.
Employment.
Assets.
Bank statements.
Credit.
Debt.
Down payment.
Debt-to-income ratio.
Property type.
Loan program.
A good lender should also help you understand the differences between potentially available financing options such as:
Conventional
FHA
VA
Jumbo
Down-payment-assistance programs
and other eligible products.
PRE-QUALIFICATION VS. PRE-APPROVAL
These terms are sometimes used differently by lenders, so always ask exactly what has been reviewed.
Generally, a serious pre-approval involves more financial verification than an informal estimate of what you might qualify for.
When we submit an offer, a strong pre-approval can help demonstrate that you’re financially prepared to complete the purchase.
HOW MUCH DOWN PAYMENT DO I NEED?
There is no universal 20% rule.
One of the biggest home-buying myths is:
“You need 20% down.”
Not necessarily.
Depending on the loan and your qualifications, buyers may have access to lower-down-payment financing.
Some eligible Nevada buyers may also qualify for assistance.
The Nevada Housing Division’s current Home Is Possible program, for example, offers qualifying buyers assistance that may be applied toward down payment or closing costs. Eligibility depends on income, credit, loan type and other program requirements.
The right question is:
“Which financing structure makes the most sense for my situation?”
Not:
“How little can I put down?”
And not:
“How much should everybody put down?”
CASH YOU MAY NEED BEFORE CLOSING
This is important.
Your down payment is not necessarily the only cash involved in buying a home.
Depending on the transaction, you may also need funds for:
Earnest money deposit
Home inspection
Additional inspections
Appraisal
Closing costs
Prepaid taxes or insurance
Homeowners insurance
Down payment
Moving expenses
Immediate repairs or improvements
I want these numbers discussed before we get under contract.
Surprises are expensive.
STEP 3
KNOW YOUR LOAN BEFORE YOU SHOP
Mortgage rates get most of the attention.
But never compare loans using the interest rate alone.
When reviewing financing, pay attention to:
INTEREST RATE
The rate used to calculate interest on your mortgage.
APR
A broader measure of borrowing cost that incorporates certain loan charges.
DISCOUNT POINTS
Money paid upfront to potentially obtain a lower interest rate.
LENDER FEES
Origination or other lender charges.
MORTGAGE INSURANCE
May apply depending on your loan and down payment.
CASH TO CLOSE
What you are actually expected to bring to settlement.
MONTHLY PAYMENT
The number that affects your life every month.
YOUR LOAN ESTIMATE MATTERS
After you submit a mortgage application containing the required information, lenders generally must provide a Loan Estimate within three business days.
The Loan Estimate provides key information including the estimated interest rate, payment and closing costs.
GOOD ENERGY TIP
Do not look only at:
“What’s your rate?”
Ask:
“What is the rate, APR, lender cost, monthly payment AND cash to close?”
That is a much better comparison.
STEP 4
MEET WITH YOUR REALTOR BEFORE YOU FALL IN LOVE WITH A HOUSE
This is where we build your actual strategy.
A buyer consultation with me is not:
“How many bedrooms do you want?”
and then I open the MLS.
I want to understand the bigger picture.
Why are you buying?
Where are you coming from?
How long do you expect to own the home?
What payment feels comfortable?
Do you work from home?
Do you need multigenerational space?
Do you care about a backyard?
A pool?
Single-story?
Three-car garage?
Gated community?
Master-planned community?
Older character?
New construction?
What compromises are acceptable?
Which are not?
The clearer we are before the search, the better our decisions become during it.
WHAT I WANT TO KNOW ABOUT YOU
We may discuss:
Target price
Maximum price
Comfortable monthly payment
Down payment
Loan type
Preferred locations
Commute
Bedrooms
Bathrooms
Home size
Lot
Garage
Single vs. two story
HOA preferences
Pool
Condition
Age
New construction vs. resale
Timeline
Deal breakers
Then I divide your list into:
MUST HAVE
WOULD LOVE
DOESN’T REALLY MATTER
That simple exercise prevents buyers from rejecting excellent homes because they are searching for perfection.
STEP 5
UNDERSTAND SOUTHERN NEVADA BEFORE CHOOSING A HOUSE
You are not simply buying a structure.
You are buying a location.
Las Vegas and Southern Nevada can feel dramatically different depending on where you live.
Buyers may explore:
Summerlin
Southwest Las Vegas
Northwest Las Vegas
Centennial Hills
Skye Canyon
Henderson
Green Valley
Inspirada
Cadence
West Henderson
Lake Las Vegas
North Las Vegas
Tule Springs
Boulder City
and other communities.
When evaluating location, consider:
Commute.
Traffic patterns.
Nearby development.
Amenities.
Restaurants.
Shopping.
Parks.
Trails.
Lifestyle.
Airport access.
HOA.
Home age.
Lot size.
Neighborhood character.
Future plans.
A great house in the wrong location is still the wrong house.
A NOTE ABOUT SCHOOLS, CRIME & OTHER PERSONAL LOCATION DECISIONS
As your Realtor, I can help direct you to appropriate public resources and provide factual property and neighborhood information within the scope of real estate practice.
But some decisions are deeply personal.
I encourage buyers to independently research the factors that matter most to them and physically experience an area whenever possible.
Drive it:
During the day.
At night.
During your normal commute.
On a weekend.
Experience the neighborhood.
Do not judge it only from online photos.
STEP 6
START THE HOME SEARCH
This should be exciting.
But I want you to tour homes with discipline.
At every property, look beyond:
Beautiful furniture.
Fresh paint.
Good staging.
Smell.
Lighting.
Décor.
Ask:
Does the layout work?
Does the lot work?
Does the location work?
What would I need to change?
What will those changes cost?
What is the home’s actual condition?
How does this compare with other homes at the same price?
THE GOOD ENERGY HOME TOUR METHOD
When you walk into a property, evaluate it in this order:
1 — LOCATION
You cannot move it.
2 — LOT
You cannot easily change it.
3 — FLOORPLAN
Structural changes can be expensive.
4 — CONDITION
This affects cost and risk.
5 — COSMETICS
Paint is easy.
Flooring can be changed.
Cabinets can eventually be updated.
Do not reject the right house because of the easiest thing to fix.
STEP 7
WHEN YOU FIND THE ONE — SLOW DOWN FOR A MOMENT
This is where buyers often become emotional.
You walk through the kitchen.
You imagine your furniture.
You imagine Christmas.
Your dog in the backyard.
Your family visiting.
You start mentally moving in.
That’s normal.
But now we switch modes.
From:
“I LOVE IT.”
to:
“LET’S ANALYZE IT.”
That is where I go to work.
STEP 8
ANALYZE THE HOME BEFORE WRITING THE OFFER
Before recommending an offer strategy, I want to understand:
The asking price.
Comparable recent sales.
Current competition.
Days on market.
Previous price changes.
Property condition.
Seller motivation, when known.
Included items.
Market conditions.
Potential appraisal concerns.
Other relevant terms.
The best offer is not necessarily:
“Offer 10% under.”
or:
“Offer full price.”
There is no magic percentage.
The property and market determine the strategy.
PRICE IS ONLY ONE PART OF AN OFFER
Your offer can include many components, including negotiated terms regarding:
Purchase price
Earnest money
Financing
Closing date
Inspection/due-diligence provisions
Appraisal provisions
Seller credits
Personal property
Home warranty
Possession
and other transaction-specific terms.
A strong offer is not necessarily the offer with the highest price.
Terms matter.
STEP 9
UNDERSTAND EARNEST MONEY
Earnest money is a deposit made in connection with your purchase contract.
It demonstrates that you are serious about completing the transaction.
If the purchase closes, the deposit is generally applied toward the transaction according to the closing statement.
But do not think of earnest money as automatically refundable.
Whether you are entitled to recover the deposit if a transaction does not close depends on:
The contract.
The reason for cancellation.
Applicable contingencies.
Deadlines.
And the circumstances of the transaction.
READ YOUR CONTRACT.
Know:
How much is due.
Where it is being deposited.
When it is due.
What protections apply.
STEP 10
YOU ARE UNDER CONTRACT
Congratulations.
Now the serious work begins.
Getting an offer accepted is not the finish line.
It is the beginning of the transaction.
From this point forward, deadlines matter.
Your lender.
Title/escrow.
Inspector.
Seller.
Listing agent.
Your Realtor.
HOA, if applicable.
Potential specialists.
All begin working toward closing.
GRAPHIC IDEA: UNDER-CONTRACT ROADMAP
Create a horizontal Good Energy graphic:
OFFER ACCEPTED
→ EARNEST MONEY
→ INSPECTION
→ DISCLOSURES
→ APPRAISAL
→ UNDERWRITING
→ FINAL WALKTHROUGH
→ SIGNING
→ KEYS 🔑
Use thin gold lines over a soft cream background with dark green text.
STEP 11
HOME INSPECTION
THIS IS ONE OF THE MOST IMPORTANT PARTS OF THE PROCESS.
A home inspector evaluates accessible systems and components of the property and reports observed conditions.
Depending on the property, inspection may include areas involving:
Roof.
HVAC.
Plumbing.
Electrical.
Water heater.
Attic.
Foundation or structure.
Appliances.
Windows.
Doors.
Exterior.
Interior.
Drainage.
Garage.
Pool or spa, when within the selected service.
Freddie Mac describes the professional inspection and appraisal as critical evaluations before closing, with the inspection focused on the property’s condition and the appraisal focused primarily on value.
INSPECTION IS NOT A PASS/FAIL TEST
Every house will have something in an inspection report.
Even new homes.
The real questions are:
Is it serious?
Is it expensive?
Is it unsafe?
Is it normal maintenance?
Does it require a specialist?
Does it change how I feel about the home?
Is it something we should address with the seller?
Do not panic because an inspection report is 60 pages.
Photos make modern reports look enormous.
Focus on significance, not page count.
POSSIBLE SPECIALIZED INSPECTIONS
Depending on the home and findings, a buyer may consider specialists for areas such as:
HVAC
Roof
Pool/spa
Plumbing/sewer
Structural concerns
Electrical
Pest concerns
Mold/moisture
Solar system
Septic or well where applicable
Your general inspector may recommend further evaluation when something falls outside their expertise.
STEP 12
INSPECTION NEGOTIATION
Depending on your contract rights and the findings, possible approaches may include requesting:
Repairs.
A financial credit.
A price adjustment.
Additional evaluation.
Accepting the property as-is.
Or exercising a contractual right to cancel where one applies.
Inspection is not an excuse to renegotiate the entire house over cosmetic imperfections.
But it is also not something I want my buyers dismissing when the issues are meaningful.
The goal is to understand:
What are we buying?
and:
Does the deal still make sense?
STEP 13
REVIEW THE SELLER’S PROPERTY DISCLOSURE
Nevada requires a prescribed disclosure form for many residential sales.
The seller’s disclosure addresses known conditions involving areas such as the electrical, heating, cooling, plumbing and sewer systems, along with other aspects that affect use or value. The disclosure is made by the seller, not by the seller’s real estate agent.
A seller disclosure is NOT the same thing as an inspection.
The seller reports what they know.
Your inspector evaluates the property independently.
Use both pieces of information.
NEVADA BUYERS ALSO RECEIVE IMPORTANT REAL-ESTATE DISCLOSURE INFORMATION
The Nevada Real Estate Division publishes a Residential Disclosure Guide, which applies to residential sales—including new-home sales—and covers agency and other disclosure matters.
You may also receive the Nevada Duties Owed disclosure describing the duties a Nevada real estate licensee owes in a transaction.
Do not treat disclosure documents as paperwork to click through.
Read them.
Ask questions.
STEP 14
IF THERE IS AN HOA — READ THE DOCUMENTS
This is extremely important in Southern Nevada because many communities have homeowners associations.
Do not simply ask:
“How much is the HOA?”
You should also care about:
Rules.
Restrictions.
Budget.
Reserves.
Pending litigation.
Insurance.
Assessments.
Transfer-related fees.
Use restrictions.
Parking.
Rental restrictions.
Architectural rules.
Pets.
Community amenities.
Financial health.
NEVADA HOA BUYER PROTECTIONS
Nevada law requires a resale package for many purchases in common-interest communities.
The package includes materials such as governing documents, current association financial information, assessment information and certain litigation and fee disclosures.
Under Nevada’s rules effective July 1, 2026, a purchaser receiving a qualifying resale package generally has until midnight of the fifth calendar day following receipt to cancel the purchase contract by the methods permitted by law. Different rules can apply to original/new-home purchasers receiving a public offering statement, so the specific transaction and documents matter.
THIS DEADLINE IS SERIOUS.
Your contract and applicable law control your rights.
Do not wait until day six to decide that you dislike the HOA rules.
WHAT I LOOK AT IN AN HOA PACKAGE
I want buyers paying particular attention to:
Monthly assessments
Master association fees
Special assessments
Reserve information
Pending litigation
Insurance information
Rules
Parking restrictions
Rental restrictions
Pet rules
Architectural restrictions
Transfer or transaction fees
A beautiful house does not make a restrictive HOA disappear.
STEP 15
THE APPRAISAL
If you are financing your purchase, your lender will generally require an appraisal.
An appraisal is NOT the same as an inspection.
INSPECTION
Primarily evaluates the condition of the property.
APPRAISAL
Primarily provides the lender with a professional opinion regarding the property’s value and may also address property requirements relevant to the financing.
Freddie Mac explains that lenders order appraisals to evaluate the home’s value relative to the agreed purchase price and financing.
WHAT IF THE HOME APPRAISES LOW?
Suppose:
Purchase Price: $500,000
Appraised Value: $480,000
That does not automatically mean:
“The seller must reduce the price.”
What happens depends on:
Your contract.
Your financing.
Any appraisal protections.
Your available funds.
The seller’s willingness to renegotiate.
The market.
Possible options can include:
Renegotiating.
Buyer contributing additional funds.
Seller reducing price.
Meeting somewhere in between.
Challenging or reviewing the appraisal where appropriate.
Or exercising contractual rights if available.
Never assume the outcome.
Review the contract before making an offer.
STEP 16
LOAN UNDERWRITING
While we’re inspecting and evaluating the property, your lender is evaluating the loan.
Your file may move through underwriting.
The lender may request:
Updated bank statements.
Pay stubs.
Tax documents.
Employment verification.
Explanations.
Proof of deposits.
Insurance information.
Additional financial documents.
Respond quickly.
A mortgage file can involve many moving parts, and delayed documentation can threaten closing timelines.
ONE OF THE MOST IMPORTANT WARNINGS ON THIS ENTIRE PAGE
DO NOT CHANGE YOUR FINANCES WHILE YOU ARE BUYING A HOME WITHOUT SPEAKING TO YOUR LENDER.
Avoid assuming that once you’re pre-approved, you’re finished.
Until the transaction closes:
DO NOT BUY A CAR WITHOUT TALKING TO YOUR LENDER.
DO NOT FINANCE FURNITURE.
DO NOT OPEN NEW CREDIT CARDS.
DO NOT CO-SIGN A LOAN.
DO NOT MAKE LARGE UNEXPLAINED MONEY MOVEMENTS.
DO NOT CHANGE EMPLOYMENT WITHOUT DISCUSSING IT.
DO NOT TAKE ON NEW DEBT BECAUSE “THE HOUSE IS ALREADY APPROVED.”
New undisclosed debt can affect underwriting and may require the lender to re-evaluate qualification. Fannie Mae specifically warns that borrowers taking on new debt for furniture or other purchases before closing can jeopardize mortgage eligibility.
WAIT UNTIL THE KEYS ARE YOURS.
Then buy the couch.
GOOD ENERGY WARNING BOX
UNDER CONTRACT? KEEP YOUR FINANCES BORING.
No new cars.
No new credit cards.
No financing a $12,000 furniture package.
No mysterious $30,000 bank transfer.
No quitting your job without speaking to your lender.
Boring is beautiful until closing.
This graphic will be one of the most useful things on your page.
STEP 17
HOMEOWNERS INSURANCE
Your lender will generally require appropriate insurance before closing if you have a mortgage.
Do not wait until the last moment.
Insurance costs can vary based on:
Property.
Coverage.
Claims history.
Construction.
Location.
Deductibles.
Roof.
Pool.
Other factors.
Insurance is part of affordability.
A house with a significantly higher insurance premium has a higher real monthly cost.
STEP 18
TITLE & ESCROW
The title/escrow side of the transaction helps coordinate the financial and ownership transfer.
Depending on the transaction, this may involve:
Title review.
Payoff information.
Deposits.
Loan documents.
Closing figures.
Signing.
Funds.
Recording.
Title insurance.
Ask questions about anything you do not understand.
You are signing documents that create legal obligations and transfer real property.
This is not the time to pretend you understand something because you are embarrassed to ask.
WIRE FRAUD WARNING
THIS IS SERIOUS.
Real-estate transactions can be targeted by criminals attempting to impersonate:
Title companies.
Escrow officers.
Realtors.
Lenders.
Do not trust changed wiring instructions simply because they arrive in an email.
Before wiring a large amount of money:
Independently contact the escrow/title company using a trusted phone number and verify the instructions.
NEVER use a phone number contained only in a suspicious “updated wiring instructions” email.
Treat wire instructions like banking credentials.
STEP 19
REVIEW YOUR CLOSING DISCLOSURE
For most standard mortgage transactions, your lender must provide your Closing Disclosure at least three business days before closing.
It shows your final loan details, projected payment and closing costs.
Do not simply scroll to the signature button.
Compare it with your Loan Estimate.
Check:
Loan amount
Interest rate
Loan type
Monthly principal and interest
Mortgage insurance
Estimated taxes/insurance
Cash to close
Closing costs
Seller credits
Other credits
Fees
The CFPB specifically recommends using this three-day period to identify unexpected changes and ask questions before signing.
GRAPHIC IDEA: LOAN ESTIMATE VS. CLOSING DISCLOSURE
EARLY IN THE PROCESS
LOAN ESTIMATE
“What we currently expect.”
↓
BEFORE CLOSING
CLOSING DISCLOSURE
“What the final mortgage transaction looks like.”
At the bottom:
COMPARE THEM.
STEP 20
FINAL WALKTHROUGH
The final walkthrough is not another full home inspection.
Its purpose is generally to confirm that the property is in the expected condition before closing.
We may look at things such as:
Whether the home is substantially in the agreed condition.
Whether agreed repairs appear completed.
Whether included items remain.
Whether significant new damage is visible.
Whether the property has been vacated as required.
Depending on circumstances, we may test or visually check relevant items.
Do not skip the walkthrough because you’re excited to close.
Once ownership transfers, your options may be very different.
STEP 21
SIGNING DAY
You will sign a lot of paperwork.
For financed purchases, documents may include the:
Promissory Note
Deed of Trust/security instrument
Closing Disclosure
and various lender, escrow/title and transaction documents.
The CFPB notes that closing involves documents establishing both your repayment obligation and the lender’s security interest in the property.
Signing documents does not always mean you immediately own the house.
In Nevada transactions, there may still be funding and recording steps before title transfers and keys are released.
I want to confirm completion with the appropriate parties.
STEP 22
FUNDING & RECORDING
Your lender sends the required loan funds.
Closing funds are assembled.
The deed is submitted for recording according to the closing process.
Once the transaction has properly funded and recorded and the parties authorize possession according to the contract…
then we celebrate.
STEP 23
THE KEYS 🔑
This is the moment everyone sees on Instagram.
But now you understand everything that happened before it.
The pre-approval.
The search.
The rejection of houses that weren’t right.
The offer.
The negotiation.
The earnest money.
The inspection.
The appraisal.
The lender conditions.
The disclosures.
The insurance.
The walkthrough.
The signatures.
And finally…
you become a homeowner.
BUT THE GOOD ENERGY PROCESS DOESN’T END AT THE KEYS
I want my clients to think about the first year of ownership too.
After closing:
Keep important transaction documents.
Understand your mortgage payment.
Know when property taxes and insurance are handled.
Understand your HOA responsibilities.
Learn where your main water shutoff is.
Replace filters as required.
Create a maintenance schedule.
Build an emergency repair reserve.
Update your address.
Consider changing locks/codes.
Understand warranties.
Homeownership is not the absence of housing expenses.
It is the responsibility of maintaining an asset that belongs to you.
THE 5 PEOPLE YOU SHOULD UNDERSTAND DURING A PURCHASE
YOUR REALTOR
Helps with the real-estate transaction, search, strategy, offers, negotiation, coordination and buyer representation within the brokerage relationship.
YOUR LENDER
Handles the mortgage qualification, loan structure and underwriting.
YOUR HOME INSPECTOR
Evaluates the property’s observable condition within the scope of the inspection.
YOUR TITLE/ESCROW TEAM
Handles important settlement, title and closing functions.
YOU
You are the decision-maker.
Professionals advise.
Professionals provide information.
Professionals identify issues.
But it is your home, your money and ultimately your decision.
A good team makes sure you understand enough to make that decision intelligently.
WHAT CAN GO WRONG DURING A HOME PURCHASE?
This page would not be honest if I made buying a home sound risk-free.
Transactions can encounter problems.
Examples include:
Inspection discoveries.
Low appraisal.
Financing problems.
Title issues.
Insurance difficulties.
HOA concerns.
Repair disputes.
Seller problems.
Buyer financial changes.
Delays.
Contract disagreements.
Unexpected property conditions.
The goal is not to promise that nothing will go wrong.
The goal is to have a process and team capable of responding when something does.
WHAT HAPPENS IF I WANT TO WALK AWAY?
This depends entirely on:
Why.
When.
Your contract.
Which contingencies or statutory rights remain.
Whether you have complied with applicable deadlines.
You should never assume:
“I can cancel anytime and get my earnest money back.”
And you should also never assume:
“Once I sign, I’m trapped no matter what.”
Real estate contracts create specific rights and obligations.
If you’re worried about cancelling, speak to your Realtor immediately.
Deadlines matter.
For questions involving legal interpretation or disputes, an attorney may be appropriate.
WHAT DOES “CONTINGENT” MEAN?
A contingency is generally a contractual condition or protection tied to certain events or performance.
Depending on the transaction, this might involve:
Inspection/due diligence.
Financing.
Appraisal.
Sale of another property.
Other negotiated conditions.
Never use the word “contingency” as though every contract contains the same protections.
Your actual contract controls.
HOW LONG DOES BUYING A HOME TAKE?
There is no universal timeline.
Two different questions are involved.
HOW LONG WILL IT TAKE ME TO FIND A HOME?
Could be:
One day.
Three weeks.
Three months.
Longer.
HOW LONG AFTER I GET UNDER CONTRACT?
That depends on:
Financing.
Contract terms.
Seller circumstances.
Property type.
Appraisal.
Inspections.
Title/escrow.
HOA documents.
Other requirements.
Do not measure your buying journey against someone else’s.
Finding the right home is not a race.
SHOULD I BUY THE FIRST HOUSE I LOVE?
Maybe.
There is no rule saying you must see 30 houses.
If the first house:
Fits your needs.
Fits your payment.
Fits the area.
Is appropriately valued.
Passes your due diligence.
and you’re comfortable with the transaction…
it can still be the right home.
Conversely, touring 50 homes does not guarantee a better decision.
WHAT IF THERE ARE MULTIPLE OFFERS?
This is when strategy matters.
A multiple-offer situation does not automatically mean you should abandon your financial boundaries.
We may evaluate:
Price.
Comparable sales.
Appraisal risk.
Your financing.
Your available cash.
Terms.
Your level of interest.
Other possible homes.
The goal isn’t:
“Win at all costs.”
The goal is:
“Win only if the deal still makes sense.”
WHEN SHOULD I WALK AWAY FROM A HOUSE?
There isn’t one universal answer.
But I want you to become cautious when:
The numbers no longer fit your budget.
You discover serious property issues you’re unwilling to accept.
Financing no longer makes sense.
The HOA creates concerns you cannot live with.
The location doesn’t fit your life.
The transaction requires you to accept risk you do not understand.
You are only continuing because you’re afraid of losing the house.
Falling in love with a property does not require ignoring reality.
THE GOOD ENERGY RULE:
NEVER LET FEAR MAKE A HALF-MILLION-DOLLAR DECISION FOR YOU.
Fear can sound like:
“What if prices go up?”
“What if someone else buys it?”
“What if this is my only chance?”
Excitement is fine.
Urgency is sometimes real.
But major decisions deserve a clear mind.
Peaceful does not mean indecisive.
It means we understand what we’re doing before we commit.
HOW I HELP YOU THROUGH THE PROCESS
When you work with me, I want you to feel that you have someone tracking both:
THE TRANSACTION
and
THE HUMAN BEING GOING THROUGH THE TRANSACTION.
I can help you:
Prepare for the search.
Connect with lending resources.
Understand buyer representation.
Identify properties.
Arrange tours.
Research homes.
Review comparable market information.
Develop an offer strategy.
Prepare and communicate offers.
Negotiate.
Track contract deadlines.
Coordinate inspections.
Review transaction disclosures with you.
Help navigate repair negotiations.
Communicate with the listing side.
Coordinate with your lender and escrow/title team.
Attend the final walkthrough.
Help keep the transaction moving toward closing.
And hand you the keys when we’re finished.
WHY “GOOD ENERGY”?
Because buying a home can create a lot of bad energy very quickly.
Pressure.
Fear.
Competition.
Money.
Deadlines.
Inspection reports.
Rate changes.
Family opinions.
Internet opinions.
Everyone suddenly becomes a real-estate expert.
My job is to reduce the noise.
Good Energy does not mean pretending everything is positive.
Sometimes I will tell you:
“I don’t like this.”
“This concerns me.”
“The numbers don’t make sense.”
“We should investigate this further.”
“I think we can negotiate harder.”
“I think we should walk away.”
That is also good energy.
Good Energy means clarity.
PEACEFUL, BUT AMBITIOUS
This philosophy is at the center of how I represent buyers.
PEACEFUL
We do not panic.
We understand the process.
We ask questions.
We gather information.
We don’t make major decisions because someone pressured us.
AMBITIOUS
We negotiate.
We look for opportunities.
We protect deadlines.
We ask for concessions when appropriate.
We compare options.
We pursue the strongest reasonable outcome.
You can have both.
A REAL EXAMPLE OF WHY THE PROCESS MATTERS
I’ve worked with buyers who came to Southern Nevada believing that renting was their only realistic option.
By slowing the process down, connecting them with the appropriate lending resources and exploring what was actually possible, their path changed.
In one buyer transaction, I negotiated $15,500 in seller credits, while the buyers used a 3.5% down-payment-assistance structure to help complete their purchase.
They came to Las Vegas expecting to rent.
They became homeowners.
That is why I am so passionate about buyer education.
Sometimes the biggest obstacle isn’t:
“You can’t buy.”
It’s:
“Nobody has explained your options yet.”
DOWN-PAYMENT ASSISTANCE IN NEVADA
If down payment is one of your concerns, do not automatically assume homeownership is impossible.
The Nevada Housing Division currently operates several Home Is Possible pathways.
Its general Home Is Possible program currently advertises assistance up to 5% of the loan value for eligible buyers, subject to program, credit, income and underwriting requirements.
Nevada also currently offers separate pathways for qualifying first-time buyers and essential workers. Program terms can change, so eligibility should always be verified with a participating lender.
I do not decide whether you qualify.
A qualified participating lender does.
But I absolutely want buyers to know these programs exist.
FIRST-TIME BUYER?
YOU ARE NOT SUPPOSED TO KNOW ALL OF THIS.
You are not supposed to know:
What escrow means.
How appraisal works.
What earnest money is.
How an HOA package works.
What APR means.
How to read comparable sales.
How repairs are negotiated.
What underwriting is.
What a Closing Disclosure is.
That is why professionals exist.
Ask me questions.
Even the question you think sounds stupid.
I would much rather explain something five times than have you sign something you do not understand.
HOME BUYING MYTHS
“I NEED 20% DOWN.”
Not necessarily.
“MY PRE-APPROVAL IS MY BUDGET.”
Not necessarily.
“THE SELLER HAS TO FIX EVERYTHING ON THE INSPECTION.”
No.
“THE APPRAISAL TELLS ME WHETHER THE HOUSE IS IN GOOD CONDITION.”
No. That is not the appraisal’s primary purpose.
“MY EARNEST MONEY IS ALWAYS REFUNDABLE.”
Do not assume that.
“ONCE MY OFFER IS ACCEPTED, MY LOAN IS GUARANTEED.”
No.
“THE LISTING PRICE IS WHAT THE HOUSE IS WORTH.”
Not necessarily.
“A BRAND-NEW HOUSE DOESN’T NEED AN INSPECTION.”
New does not mean flawless.
YOUR GOOD ENERGY HOME BUYING CHECKLIST
Before I want you to say YES to a home, I want you comfortable answering:
- Can I comfortably afford the monthly payment?
- Do I understand how much cash I need?
- Do I understand my loan?
- Do I like the location?
- Does the home work for my lifestyle?
- Have we evaluated comparable market information?
- Do I understand the offer terms?
- Have I reviewed the property disclosures?
- Have I completed appropriate inspections?
- Do I understand the HOA, if applicable?
- Am I comfortable with the appraisal/financing position?
- Do I understand what happens if something goes wrong?
- Have I reviewed my final closing figures?
- Am I choosing this home because it makes sense—not because I’m afraid?
If the answer is yes…
Now we’re ready.
FREQUENTLY ASKED QUESTIONS
When should I talk to a Realtor?
Earlier than most people think.
You do not need to wait until you are ready to buy next weekend.
A conversation months before a purchase can help you understand financing, neighborhoods and what preparation may be needed.
Should I speak to a lender or Realtor first?
Either can be a reasonable starting point.
I often help buyers connect with appropriate lending resources so they can understand financing early in the process.
For financed buyers, we generally want a solid financial plan before serious home shopping.
Does getting pre-approved mean I have to use that lender?
Not necessarily. Mortgage borrowers can generally compare lenders and loan offers, subject to timing and contractual considerations.
The CFPB encourages buyers to compare Loan Estimates and loan terms rather than relying solely on informal rate quotes.
Does pre-approval guarantee my mortgage?
No.
Final approval depends on underwriting and the specific property, updated borrower information and satisfaction of lender requirements.
How much earnest money should I offer?
There is no universal amount.
It depends on the transaction, market conditions, purchase price and strategy.
We will discuss it before writing your offer.
Who pays for the inspection?
Inspection costs and arrangements depend on the transaction and services selected. Buyers commonly engage and pay their chosen inspector directly, but we confirm the specific arrangement.
Can I attend the inspection?
Ask your inspector about their process. I generally want my buyers engaged in understanding the important findings rather than simply receiving a report they never discuss.
What if the inspection finds problems?
We evaluate their severity, obtain further expertise when appropriate and consider your contractual options.
Can the seller reject my repair requests?
Depending on the transaction, sellers may agree, disagree or counter requests. Contract rights and negotiation determine what happens next.
What if the appraisal is below the purchase price?
There may be several possible paths depending on the contract and financing. We evaluate the options before making a decision.
When do I officially own the home?
The closing process involves signing, funding and transfer/recording steps. I do not want you assuming ownership or possession until the appropriate closing parties confirm that the transaction has completed according to your contract.
MY PROMISE TO MY BUYERS
I cannot promise you:
The market won’t change.
The inspection will be perfect.
The seller will accept every request.
The appraisal will always equal the purchase price.
The loan will never encounter a condition.
Every transaction will be effortless.
No responsible Realtor should promise those things.
What I can promise is how I will approach your transaction:
I will educate you.
I will communicate.
I will ask questions.
I will help you evaluate your options.
I will negotiate professionally.
I will tell you when something concerns me.
And I will remember that this isn’t “just another deal.”
It is your money.
Your home.
Your future.
I take that seriously.
READY TO START?
You do not need to know exactly what house you want.
You do not need to have everything figured out.
You just need a starting point.
Tell me:
Where you want to live
Approximately what you want to spend
Whether you’re financing or paying cash
When you’d like to move
What matters most in your next home
and we’ll create the plan from there.
TOMMY XAVIER NGUYEN
The Good Energy Realtor®
Nevada Real Estate Salesperson
NV Lic. #S.0204577
Good Energy Realty LLC
📞 725.224.1720
Serving:
Las Vegas • Henderson • North Las Vegas • Boulder City • Southern Nevada
