You may ask: What is Escrow Account when buying home? When you buy a home in Phoenix AZ with mortgages, you typically pay extra money into escrow accounts every month, along with their home loan payments. When you open an escrow account for your mortgage, the mortgage company will make payments on your behalf for […]
What is earnest money when buying home in Phoenix AZ?
What is earnest money when buying home in Phoenix Arizona? When you are buying a home in Phoenix AZ, your real estate agent may ask you how much earnest money you are putting down when writing an offer. So, what is earnest money actually and how much earnest money I need to put down when […]
What Escrow means when buying home in Phoenix AZ?
What Escrow means when buying home in Phoenix AZ? You finally found your dream home, your Real Estate Agent had worked hard negotiate the best price, best terms and conditions. Now, I am the home owner right? Not so fast. Once purchase contract is accepted by Buyer and Seller, the next step of home buying […]
Ways to Take Title when Buying a Home in AZ
Ways to Take Title when Buying a Home in Arizona When buying a home in Phoenix AZ, home buyer must determine how they wish to hold title before they can close the escrow. Arizona is a Community Property State. There is a statutory presumption that all property acquired by husband and wife is community property. […]
What is Buyer’s Agent?
What is Buyer’s Agent in Real Estate transaction? Buyer’s Agent Q: Who Represents Home Buyers? A: NOBODY… unless you hire Buyer’s Agent to work with you. Introducing: Buyer’s Agent Services Listing Agents represent seller. Builder Home Sales Associate represent builder. Who represents buyers in real estate purchases? Only Buyer’s Agent and their Brokers represent buyers. […]
What is Debt to Income Ratio (DTI)?
First Time Home Buyer: What is Debt to Income Ratio (DTI) When Applying for Mortgage? A debt to income ratio is one way lenders measure your ability to manage the payments you make every month to repay the money you have borrowed. Lenders use your DTI ratio to evaluate your current debt load and to […]
What is Good Faith Estimate When Buying Home in Phoenix AZ?
What is Good Faith Estimate When Buying Home in Phoenix AZ? The Good Faith Estimate, Defined One of the most confusing aspects of the process for first-time homebuyers is the mortgage. Common homebuyer questions include: Where to get one, how to get one, and what does all that jargon mean? Advice abounds, especially on the Internet. […]
Do Not Apply For Credit Before Close of Escrow
Do Not Apply For Credit Before Closing of Escrow When Buying a Home You found your dream home and you are under contract. So what’s next? First thing first: Do Not apply for new credit between the time you apply for a home loan and the day the mortgage closes aka close of escrow. The […]
What is Comparative Market Analysis (CMA)?
What is comparative market analysis (CMA)? Why you need to know? Selling a home is a bit more complicated than putting up a sign, setting a price and praying and hoping to get a buyer to show your home. Although it involves an element of suspense, and is not often a scientific certainty, it should […]
Should You Skip the Home Inspection for a Better Deal?
Should you skip the home inspection for a better deal when buying home in Phoenix AZ? When Phoenix AZ Real Estate Markets are moving quickly, sellers sometimes become uncompromising. Why make concessions if your home is leading the neighborhood’s Ms. Popularity contest? This may lead buyers, caught in the frenzy of a bidding war, to […]
