Buying your first home in Las Vegas is a series of small decisions, each one important. Here’s the checklist Ian Palast walks every first-time buyer through.

Before you start looking

  • Pull your free credit reports from all three bureaus (annualcreditreport.com).
  • Pay down credit card balances to under 30% utilization.
  • Save the down payment + closing costs + 3-6 months of reserves. Real numbers: $40K-$50K minimum for a $400K target.
  • Get pre-approved with a Vegas-licensed lender (not just pre-qualified).
  • Define your search: price band, school zone, HOA tolerance, single-story vs. two-story, commute, submarket.

During the search

  • Tour with a Realtor (buyer-agent service comes at no direct cost to you in the MLS-cooperative model).
  • Drive neighborhoods at multiple times of day before deciding.
  • Read HOA CC&Rs (covenants, conditions, and restrictions) before you offer. Some HOAs prohibit things you want.
  • Look at days-on-market trends in the specific neighborhood (Ian provides this).
  • Consider new construction vs. resale tradeoffs. New construction means builder incentives (rate buydowns, closing-cost concessions, upgrades) and a longer wait. Resale means immediate move-in and an established neighborhood.

The offer

  • Use the standard Nevada Residential Purchase Agreement. Ian writes the specifics.
  • Earnest money 1-2% of purchase price.
  • Inspection contingency typically 10-15 days; financing 21-25; appraisal 21-25.
  • Personal letter to the seller in selected markets (not all Vegas sellers care; some do).

Inspection and close

  • Hire your own inspector ($400-$650).
  • Attend the last hour of the inspection.
  • Specialty inspections worth the money: sewer scope on older inventory, pool on any property with a pool, structural engineer if flagged.
  • Walk the property the day before closing (final walk-through).
  • Bring driver’s license and certified funds to closing.

Ian also runs a free First-Time Buyers Masterclass at palastrealtylv.com covering the five most expensive mistakes first-time buyers make. Cheapest hour of homework available.

Full buyer process in the Buyer’s Guide. Or call or text Ian at (702) 608-1292.