Home Buyer Road Map in Arizona Infographic
Here is a “summary” road map for home buyer or fist time home buyer to help them understand a “typical” home buying process in Arizona.
Meet with a real estate professional
Discuss the type of home you’re looking for, including style, price, and location. As the home buyer, your agent’s commission is paid by the seller of the home in almost all circumstances. This means your representation costs you nothing!
Get Pre-Approved
You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience.
Search for Homes
The fun part! Your agent will schedule showings and help you find the perfect home. Not all real estate websites are the same. Your real estate professional has tools and systems to ensure you see every available home that meets your criteria.
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Make an Offer
Your agent will prepare your offer based on the price and terms you choose.
Negotiation and Contract
It may take a few tries to get it just right, but hang in there. You’re on your way! In Arizona, the Purchase Contract provides you with a timeline to obtain financing as well as time to inspect the physical condition of the home. Your real estate professional will inform you of all your rights and responsibilities related to the contract.
In Escrow
You and the seller have agreed to the price and terms. The home is effectively held for you until closing. Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender. You will be finalizing your loan, reviewing documents, and discussing the findings from the inspection. Your agent will manage this entire process for you.
Closing
This is the transfer of funds and ownership. A title company or an escrow company typically acts as an independent third party to facilitate the closing.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.
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