One of the essentials of buying a home is covering the maintenance that you will incur as a homeowner. We asked our home warranty representative, Marisa Lopez, to guest blog a few words on why she is passionate about home warranties and how it benefits the consumer:  

My name is Marisa Lopez, and I am one of two Territory Managers for HSA home Warranty in the Las Vegas area.  I have the privilege of being the local liaison between HSA Home Office and the territory of agents (and their clients) that I serve.  I absolutely love what I do, because I have the opportunity to work alongside many great agents and interact with many of their amazing clients.  I also love being able to build relationships and assist in helping make a positive difference once the client is in their home.  I have been in the Las Vegas area since 1993, and my 11 year old twins are the reason I get up and hit the ground running every day!

A home is one of the largest investments a person will ever make, and it's important to protect that investment.  With an HSA Home Warranty, you can.  The home warranty provides valuable coverage to the mechanical systems and many of the appliances in your home.  The home warranty is a service contract that will pay for the repairs or replacements of covered items in your home that fail due to normal wear and tear.

With HSA, you get the convenience of one source for most repairs so you can avoid the hassle of finding a service contractor on your own.  When a covered system or appliance breaks down, all you need to do is contact us to report the problem.  Whether it's your air conditioner or your dishwasher that breaks down, you simply click or call us.  We'll talk to you about the failure and then let you know what the next steps will be.  We have a large network of service providers who are pre-screened by HSA and qualified to take care of the failure.

Just one service request could save you hundreds – even thousands – in repair and replacement costs.  Compare the repair and replacement costs on these common failures:

For additional questions on how a home warranty can benefit you and for all of your home buying, selling, and investing needs in Las Vegas. Please contact The John & Tonic Group at Keller Williams Realty Southwest at (702) 400-3881 or visit us online at www.VegasVipHomes.com 

Have you had any successes (or failures) using a home warranty on your property?

If so, please comment below.  

by: Suebrett Tonic

You've successfully navigated getting your offer accepted, now it's time to go through the escrow process, but what is this escrow process and why is it so important? To facilitate the terms that a buyer and seller have agreed upon a neutral third party is employed to insure that everything is as it should be prior to transferring ownership. 

There are many important actions which take place during the escrow process, but there are a few main points that you should be informed of as you make your way through the process.

1. Open Escrow

To open escrow the Buyer will deposit the earnest money with the escrow company. This is called the earnest money deposit or EMD if we're using Realtor jargon. Basically, these are good faith funds held by the escrow company letting the Seller know you are serious about purchasing the property. The amount of earnest money is agreed upon within the purchase agreement.

 2. Research Title 

In the State of Nevada escrow & title are generally handled by the same company. This varies from state to state. However, a detailed search of the title connected to the property is conducted and reviewed by multiple parties for inaccuracies and/or issues which would prevent providing clear title to transfer ownership. Once this is completed a Title Commitment is issued.

3. Provide Title & Escrow Documentation

In any real estate transaction there could be up to 20 different people involved in getting the property transferred to a new owner. Along the way many of these individuals will need to review the various documents associated with the property. For example, the lender will need to review the preliminary title report as part of their loan checklist.

4. Request Payoff Information

Your escrow officer will order payoff demands from the Seller's mortgage company, the HOA company, water company and sewer/trash company to make sure that clear title is transferred to the Buyer. They will also provide a breakdown of prorations based on the contract and closing date of the transaction so that the various companies are paid current.

5.  Set Signing Appointments For All Parties

The escrow officer will set-up appointments for all parties and arrange for a mobile notary for out of town parties to the transaction. Your signature will need to be notarized on some documents and the escrow company provides this service as part of their process. They will also let you know the amount you will receive from your proceeds of the sale or how much you need to bring in to complete the transaction.

6.  Review All Documents

Once all documents have been fully executed the escrow officer will verify that all terms of the contract have been met, send the executed documents back to the lender, and request the funds from the lender to complete the transaction.

7. Record The Transaction

Once all funds have been received by the escrow company the escrow officer will send the appropriate documents to the County Recorder to transfer the ownership. Once the recording is confirmed the escrow officer will disburse funds to all parties to the transaction per the contract. This could include the following: mortgage payoffs, lien payoffs, commissions, reimbursements, etc.

It is these important hurdles that take place in the time it takes to get through the escrow process. Depending on the type of transaction you are working through there could be more and sometimes less steps. Your local real estate agent and escrow officer are your best resource to explain the processes specific to your area.

For all of your Las Vegas and Henderson real estate needs, please contact The John & Tonic Group with Keller Williams Realty Southwest at (702) 513-3322 or visit us on the web at www.VegasVipHomes.com 

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Please comment below how escrow is different in your area compared to Nevada...