First-Time Home Buyer in Reno, Nevada

Financial preparation and preapproval

List the purchase funds, reserves, moving costs and ongoing ownership costs you need to discuss with a qualified lender or financial adviser. Preapproval is a lender process; it is not a guarantee that every property or loan will qualify.

Down payment and cash planning

Down-payment and assistance programs change. Avoid planning around a generic percentage. Ask a qualified lender for current, written estimates tailored to the loan and property type.

Offer and earnest money

An offer becomes a contract when accepted under its terms. Earnest money is a contract deposit handled according to the agreement and escrow instructions; amount, timing and refundability depend on the transaction. Read the contract and ask questions before signing.

Inspections and repair discussions

An independent inspection helps a buyer understand physical condition. The contract controls inspection timing and available responses. Specialist evaluations may be appropriate for particular findings.

Appraisal

The appraisal supports the lender's collateral decision and is different from an inspection. If value or required repairs become an issue, options depend on financing and contract terms.

Closing costs, escrow and title

Review the Loan Estimate and Closing Disclosure with the lender. Costs vary by loan, services, property and agreement; use current written figures rather than a fixed online estimate.

Final walkthrough and closing

The walkthrough checks the home's condition near closing. Review documents carefully, verify wire instructions independently and understand when possession and keys are delivered.

After closing

• —Secure documents and confirm payment instructions.
• —Change locks or access codes as appropriate.
• —Transfer utilities and update addresses.
• —Plan maintenance from inspection findings.
• —Use Nevada's official new-resident resources if you moved from another state.