Buying property in Las Vegas: how it works

From offer to closing

Most purchases follow a standard written contract. After your offer is accepted, you place an earnest-money deposit with an escrow company and have a period for inspections, the appraisal and financing. At closing, the escrow and title company checks the title, arranges title insurance and transfers the funds and the deed. Who pays which closing costs is set out in the contract.

Clark County real property transfer tax

When a deed is recorded in Clark County, the county charges a real property transfer tax of $2.55 for each $500 of value, or fraction of $500, based on the full purchase price or the estimated fair market value. Some transfers are exempt under Nevada law (NRS 375.090). The Clark County Recorder publishes the rate, the exemptions and an estimate calculator; its results are estimates only.

Homeowners’ associations

Many homes in master-planned communities such as Summerlin and parts of Henderson belong to a homeowners’ association, with its own fees and rules. Ask for the association’s documents, budget and reserves before you commit.

Buying from abroad

Foreign nationals can buy property in Nevada. When a foreign owner later sells, US tax rules (FIRPTA) generally require part of the sale price to be withheld for tax. Take advice from a Nevada-licensed attorney and a tax adviser in both countries before you buy.

Where people buy

Buyers look at Summerlin on the west side, beside Red Rock Canyon; Henderson, Lake Las Vegas and Ascaya in the south-east; and high-rise condominiums near the Strip. See our neighbourhood guides and our Property page; we do not publish price estimates.

Questions and answers