A Buyers Guide to Buying a Home in Arizona
A simplified layout to home ownership. Click on any of the links for further information on that subject. Check back for more as more information is gathered and deemed necessary to add here.
Interview Real Estate agents
Getting Prequalified for a home loan (if using financing)
- Working with a qualified lender, how to choose the right lender.
- If purchasing with cash, obtain a proof of funds for your purchase
Writing an offer And MORE
- What happens if your offer is rejected
- What happens with counter offers
- What to do when multiple offers
Going under contract – accepted offer
- Understanding the time frames
- Potential Breach, and the Cure Notice
Opening escrow
Getting a Home Loan
The inspection Period
- The Sellers Disclosures
- The Claims History Report
- What are the buyers responsibilities
- What are the sellers responsibilities
- What are the agents responsibilities
- Types of inspections
- Outside the box thinking
- Ordering your Home Owners insurance
- What to expect when inspecting
- Is the home to code? No.
- How to choose an inspector and WHO
- Completing your inspection period (the BINSR)
- What repairs to ask for
The Appraisal
- How to prepare and what to expect
The Finance Contingency
The Final Walk Through
Signing the docs
Closing/Recordation
- When do you get keys?
Contact me for a free buyer consultation
I Invite All Agents to NOT Answer Their Phones
First of all, before anyone gets their panties in a wad, let me explain. I am not saying that agents shouldn't answer their phones…ever. The good ones will always answer their messages. But, the good ones also don't always have time to answer that call, at that...
Is Your Agent Exceptional… or a DUD
Arizona Licensed Agents As of writing this, there are around 92k licensed Agents in the state of Arizona. About half of those are in the Maricopa Valley area, including everything around Phoenix. It's said that about 20% of the real estate agents sell 80% of the real...
Who Pays for the Real Estate Commissions?
There has been an uproar in the Real Estate World recently, regarding the commissions paid to the buyers agents. The Backstory NAR came under attack recently by the DOJ (Department of Justice), for their requirement that a seller offer a buyers agent...
Switch Bait Financing Issues
We're in a competitive market right now and buyers are getting desperate. They're up against multiple offers, with variant levels of risky conditions. Buyers waiving contingencies Buyers making earnest money non-refundable Buyers are paying cash more than ever Buyers...
Hard Money Loans are Not the Same as Cash
You're in a competitive market and you want to make a strong offer. You're tired of being beat out by these cash investors. It's understandable… but what can you do? Some buyers have looking into hard money loans, as an option to avoid pitfalls in financing, like...
Investors and Wholesalers
Arizona is being purchased up by investors, and the public is feeling the strain. But who are these investors buying up all the homes and why? iBuyers The iBuyer has been around for a while now, and a lot of sellers have benefited from them. They move in to an...
The Claims History Report
First, lets just clear something up... The Claims History is NOT the same as a CLUE report. We do not get a CLUE report from the insurance company. A CLUE is a Comprehensive Loss Underwriting Exchange report. A CLUE report will give you the claims history, sure, but...
The Sellers Disclosures (SPDS)
The Sellers Property Disclosures Statement is commonly known in the Real Estate world as the SPDS (or Spuds, but never spell it that way!). In the state of Arizona, we are what you would refer to as a Disclosure State. That means that the seller of a property is...
Proof of Funds
When you are buying a home with cash, the contract states that a proof of funds (POF) will be provided. There is no standard form however. Proof, is proof. So, what would be considered a valid proof of funds? Bank statement. If you choose to do this, you should...
The Cure Notice
In the purchase contract, there are MANY items that both parties are responsible to follow. If you do not follow these terms of the contract, you may be in breach. However, according to the Arizona Purchase Contract, if you are outside of the terms of the contract,...