BUYER'S GUIDE
OWNING A HOME IN SOUTHERN NEW MEXICO
Las Cruces market stands out as one of the most diverse and competitive real estate scenes, and we recognize that making the decision to purchase a home here can be a particularly overwhelming experience. Whether it’s grasping the distinctions between various property types, preparing for closing expenses, or navigating the different neighborhoods, there’s a lot to learn.
That’s why we created this buyer’s guide--to set you on the right course to owning a Las Cruces home of your own. So let’s get started!
STEP 1:
FIND AN AGENT
Look for a licensed real estate advisor who is knowledgeable about the neighborhoods you're considering and can help guide your search.
STEP 2:
GET PRE-
APPROVED
Before beginning your search, your first step is to get pre-approved for a mortgage loan (unless you will be paying in cash for the full price of your home).
Your real estate advisor can connect you to a mortgage broker or lender. Based on your income and credit history, the mortgage broker or lender will determine how much the bank will lend you, which will help you determine the price range for your search.
STEP 3:
VISIT PROPERTIES
Attend viewings and open houses spanning a range of areas and property types. Now is the time to consider your ideal home’s accessibility and amenities.
STEP 4:
NEGOTIATE
Reach an agreement with the seller on price and terms. Once you have seen a home you like, your real estate advisor can submit an offer on your behalf, which is a non-binding agreement to pay a certain price for the home. If your offer is lower than the list price, the seller will likely return with a “counter offer”, which you can choose to accept, reject, or make another offer. Your real estate advisor will provide advice on pricing throughout.
OUR OBJECTIVE IS TO OFFER YOU A TAILORED SERVICE SPECIFICALLY CRAFTED TO ASSIST YOU IN ACQUIRING YOUR DREAM HOME.
STEP 5:
REVIEW
Analyze the purchase agreement and other documents with your real estate advisor or attorney. If you use an attorney, it is best to work with one specializing in Las Cruces Real Estate. Your attorney’s job is vital to protecting your interests, and they review an incredible amount of paperwork on your behalf. Therefore, you want to select one who is familiar with these transactions.
STEP 6:
GO TO CONTRACT
When you sign a contract, you will also put down your earnest money deposit. This is typically $500 - $5,000 based on size of home and location.
STEP 7:
COMPLETE LOAN APPLICATION
Bank organizes an appraisal with the real estate advisor who will provide comparables to show the property’s value.
STEP 8:
CONDUCT A HOME INSPECTION
Conducting a home inspection is essential as it provides buyers with a comprehensive understanding of a property's condition, including potential safety hazards, structural issues, and hidden defects. By uncovering these issues early on, buyers can make informed decisions, negotiate prices effectively, and avoid unexpected expenses. Furthermore, home inspections allow buyers to familiarize themselves with the property's maintenance needs, empowering them to take better care of their investment in the long run.
STEP 9: COMPLETE A RESOLUTION ADDENDUM
STEP 10: BANK ISSUES THE CLEARANCE TO CLOSE
STEP 11: CLOSING SCHEDULED BY TITLE COMPANY
STEP 12: FINAL WALK-THROUGH WITH YOUR REAL ESTATE ADVISOR
STEP 13:
CLOSING
CONGRATULATION!
Congratulations, You are now a homeowner!
DOWNLOAD OUR FULL BUYER'S GUIDE
Our Client's
TESTIMONIALS
The Next Las Cruces
Connor Murray
Cristal Garcia
Luxury R.E. Advisors
m:603.918.1745 (Connor)
m:575.650.5039 (Cristal)
o: 575-532-5678
Exit Realty Horizons
3519 Foothills Rd
Las Cruces, NM 88011
