You've found a home you like, made an offer, and it's been accepted. Now comes the critical phase where many buyers make mistakes that cost money, time, or both.
This is part two of a three-part series on what not to do when buying a home in Las Vegas. Today, we're focusing on the purchase process—the period between accepted offer and closing, when contracts are signed, inspections happen, and financing is finalized.
If you missed part one, check out what not to do before buying a home.
Contract & Negotiation Don'ts
Do not assume asking price equals market value
Price, terms, and timing all matter.
Why this matters: The asking price is just a starting point. In Las Vegas, homes can be priced above market (hoping for a bidding war), at market (realistic pricing), or below market (motivated seller). Your agent should provide comparable sales (comps) to help you understand true market value. Sometimes a home priced below market with quick closing terms is a better deal than one at asking price with a long timeline. Price is only one part of the equation.
Do not waive inspections without understanding the risk
Inspections protect you from hidden costs and surprises.
Why this matters: In competitive markets, some buyers waive inspections to make their offers more attractive. This is risky. Inspections can reveal major issues—foundation problems, roof damage, HVAC failures, electrical issues—that cost thousands to fix. If you waive inspections, you're accepting all risk. At minimum, get an inspection for your own information, even if you don't make it a contingency. Better to know what you're buying than discover problems after closing.
Do not skip reviewing HOA documents
Rules, fees, rental restrictions, and reserves matter long-term.
Why this matters: In Las Vegas, most homes are in HOA communities. HOA documents tell you the rules (can you rent? park an RV? paint your house?), monthly fees (which can increase), and the financial health of the HOA. A poorly funded HOA might need special assessments for major repairs. Rental restrictions can affect your ability to rent the property later. Review these documents during your inspection period—you typically have a right to cancel if the HOA rules don't work for you.
Do not emotionally commit before contingencies are removed
This makes walking away harder if issues surface.
Why this matters: It's natural to get excited when your offer is accepted, but keep your options open until contingencies are satisfied. If the inspection reveals major issues, the appraisal comes in low, or financing falls through, you need to be able to walk away without emotional attachment clouding your judgment. Wait until all contingencies are removed before you start planning your move or telling everyone you've bought a house.
Inspection & Due Diligence Don'ts
Do not ignore small issues that signal bigger problems
Patterns matter more than isolated defects.
Why this matters: A single cracked tile might be nothing. Multiple cracks in different areas could indicate foundation issues. Water stains in one spot might be a leaky pipe. Water stains in multiple areas could indicate a bigger problem. Your inspector will note issues, but you need to look for patterns. Multiple small issues often point to larger underlying problems. Don't dismiss "minor" issues without understanding what they might indicate.
Do not assume new construction means no inspection is needed
New builds still have defects and construction variances.
Why this matters: New homes can have problems too—improper installation, code violations, construction defects, or materials that don't meet specifications. Builders have warranties, but catching issues before closing is better than dealing with warranty claims later. Get a professional inspection on new construction, ideally at different stages if possible (pre-drywall and final). Don't assume "new" means "perfect."
Financing Don'ts (Still in Play)
Do not miss document requests or deadlines
Delays can push closing or jeopardize approval.
Why this matters: Your lender will request documents throughout the process—pay stubs, bank statements, tax returns, explanations for deposits, etc. Missing deadlines or being slow to respond can delay closing, which might cause you to lose the house if the seller has a backup offer. Worse, it can jeopardize your loan approval if the lender thinks you're uncooperative or hiding something. Respond quickly and completely to all requests.
Do not make financial changes "because closing is close"
Until it records, everything still matters.
Why this matters: Lenders do a final check right before closing. They verify employment, check credit again, and confirm assets. Making changes—opening credit, making large purchases, changing jobs, moving money—can still derail your loan even if closing is days away. Wait until the deed is recorded and you have the keys before making any financial changes. "Almost closed" isn't the same as "closed."
Quick Checklist: During the Purchase Process
- Understand market value—don't assume asking price is fair
- Get inspections, even if you don't make them a contingency
- Review HOA documents thoroughly during inspection period
- Keep emotional distance until contingencies are removed
- Look for patterns in inspection issues, not just isolated problems
- Inspect new construction—"new" doesn't mean "perfect"
- Respond quickly to all lender document requests
- Don't make financial changes until the deed is recorded
The Bottom Line
The purchase process is about verification and protection. Your contingencies exist for a reason—use them. Don't skip steps to speed things up or make your offer more competitive if it means taking on unnecessary risk.
Most mistakes during this phase are about rushing or assuming things will work out. Take your time, ask questions, and don't commit emotionally until you're actually committed legally.
This is part two of a three-part series. Next, we'll cover what not to do after buying a home, including financial decisions, equity management, and long-term planning mistakes.
Buying a home isn't about perfection—it's about avoiding preventable mistakes and keeping your options open.
If you're in the middle of a purchase and have questions, I'm happy to help. Text or call me at (424) 249-0863—and honestly, a text is better. I'll respond faster.
No pressure. No rush. Just honest guidance.