7 Steps, 14 Days To Contract, 21 Days To Close.
Step 1: Get READY [Day 1] Use this quick calculator to find out where you stand (Skip this step if you're paying cash.): http://www.fha.com/calculator_borrow
In Clark County Nevada you could estimate annual hazard insurance at about 0.3% of purchase price and annual property tax at about 1.0% of purchase price.
Step 2: KNOW THYSELF [Day 2 - 5] Use Realtor.com to search for your dream home in the area to get a feel for what you like. (Realtor.com has the most up-to-date and accurate home information online.) Use a map service such as Google Maps to see the neighborhood from the sky.
[Day 2] a) List 3 things you must have in your new home.
[Day 3] b) List 3 things you would like to have.
[Day 4] c) List 3 things you could do without.
[Day 5] d) List 3 things you will definitely avoid.
Step 3: PREPARE [Day 6 - 7] Get Pre-Approved with a lender or request a proof of funds letter from your bank. Sellers and particularly Seller's agents want to know you can buy what you see. Remember time is money and these professional's time is as important as your time.
Step 4: FIND IT [Day 8 - 9] On Realtor.com identify 6 -12 properties you like. Contact a Realtor to get the complete background on the property.
Step 5: RESEARCH [Day 10 - 18] Drive-by each neighborhood during the week and on the weekend. Unless you are an investor, meaning you won't live there, you can't rely on the map service.
Step 6: DUE DILIGENCE [Day 19 - 20] Call me with the top 3 properties which interest you so I can prepare a presentation and analysis to help in your decision.
Step 7: GOT IT [Day 21-24] We will visit each of the 3 potential homes, then negotiate the purchase of one.
You close escrow typically 21 days later because you were prepared.