Make sure to bookmark this website, as it has built-in technology that allows you to create advanced searches for your new home with all of the most recent and accurate data on homes for sale in Arizona. This technology is directly from the database that we Realtors use and is far more accurate than something you will find on any of the major online search portals, so enjoy!
If you need any information on or would like to schedule a showing for any properties that you find on this website or elsewhere, contact me for an appointment.
THE HOME-BUYING PROCESS
Welcome, and congratulations on starting your journey towards homeownership. Arizona is one of the best places to live and to own real estate. Owning your own home is one of the most rewarding, both financial and otherwise, decisions you can possibly make.
My job is to make the process of finding and buying your dream home as simple and stress-free as possible. An oversimplified explanation of the home buying process is as follows:
- Get pre-qualified for a loan to find out how much the bank is willing to lend you and how much the monthly payment would be.
- Choose me as your Realtor (Wink wink). But seriously, you must choose a Realtor that will help you find the perfect house and guide you through the entire process. I’d be happy to represent you. If you would like to schedule a quick phone call so that I can get to work finding your new home, click here (link to find your dream home contact form). The best part about using a Realtor when you are the buyer is that you get professional representation at no cost. That’s right, in Arizona, the buyer pays no fees or commissions to their Realtor because the seller pays them. I thought you’d like that!
- Together, we will figure out what type of house you are looking for and I will get to work finding listings that suit your needs.
- We will go take a look at any of the houses that interest you.
- Once we find the perfect home for you, it’s time to make an offer! I will determine the market value of the home, despite its listing price, and we will make a fair offer based on the value of the property in today’s market as well as the condition of the property. In many cases, this means that we will get the home for less than its listing price, and in addition, I will work hard to get the seller to pay for some or all of your closing costs in order to limit the amount of money you will pay out of the pocket to buy the home. Once we make an offer that is accepted by the seller, we will have 10 days to hire an inspector to look for needed repairs. It is important to note that you can back out of the deal at any time during this 10-day period, whether it be because the house has too many serious problems, you don’t like the schools in the area, you don’t like the neighborhood, etc.
- Negotiate the repairs that you want the seller to make.
- The seller will complete the agreed upon repairs and you will work with your mortgage loan officer to get them everything they need to complete your loan.
- Sign all of the final paperwork.
- Move into your new home! Congratulations and welcome to homeownership! There is a lot to look forward to, including many tax benefits as well as the property going up in value over time and helping you create wealth.
IMPORTANT THINGS TO REMEMBER
- While there are loan programs in which your down payment can be paid for entirely by a government grant that you don’t have to repay, there are still out of pocket costs when buying a home, including a deposit to hold the property which is typically $1-$3k and will later be applied towards your down payment and/or the fees associated with processing the transaction. If you are not using a government grant for your down payment, you can expect to pay a minimum of 3-5% of the homes purchase price as your down payment. In addition, you may have to pay roughly $3-6k in “closing costs,” which is separate from your down payment. However, I often negotiate with the seller to have them pay some or all of the closing costs for you, which means that you would only be coming out of pocket for the down payment (unless you are using a government grant program for that). You can see that the costs to buy a home vary significantly based on the loan program you choose and what we can get the sellers to pay for. This is why it is crucial to use a knowledgeable Realtor and mortgage expert.
- It may or may not take several months to find the perfect home, so plan ahead and let’s start looking months prior to your current lease expiration date.
- The general rule of thumb is that you can afford a home that costs about two and a half times the total gross (before taxes) annual income of you and whoever else will be on the mortgage loan. However, there are a lot of factors that go into the exact amount you can get approved for, so contact a mortgage specialist to find out.
Click HERE to get approved for a loan!