So you are ready to take that step and buy a home.
Buying a home can seem to be a daunting undertaking, but with a Realtor there with you to guide and educate you, it should go smoothly. As a Realtor, I am not here to sell you something. The home-owner or builder is selling you the home. I am here to educate you, help you negotiate the best deal, and to make the experience of buying a home as stress-free as possible for you.
So what are the steps of buying a home? Here is a basic summary of what it takes to buy a home.
1.Financing: Loan or cash? If you need a loan, then the first step is to prequalify with a lender. If it will be cash, we will need a proof of funds letter or bank statement from your bank.
2.Initial Search: I will set up a portal for you in the multiple listing service to assist with your search. This will send emails to you with homes fitting your criteria.
3.Preview Homes: You will need to preview the homes you are interested in. You can do this by driving by or online.
4.Exclusive Showings: Once you have narrowed down your search, then the fun starts. I will accompany you and we will look at homes.
5.Prepare Offer: When you have found the home that you want, I will work with you to prepare and submit an offer. At this time we will discuss earnest money and that will need to be deposited into escrow. It will become part of your down payment.
6.Inspections/Due Diligence: Immediately following the acceptance of your offer by the seller, we will order any inspections that you want to do. These are typically paid for by you to the inspection company. I will coordinate all inspections and meeting the inspectors at the property.
7.Immediately After Inspections: You can accept as is per the inspections or you can ask for repairs based on the inspections or you can decide not to purchase the home based on the inspection reports.
8.Loan Processing: If you are obtaining a loan, this is the time that you are providing anything your lender needs and we are waiting on the final approval of your loan.
9.Preparing to move: At this point in the process, we can see the closing of your new home on the horizon. This is where you are making final preparations to move into your new home.
10.Closing of Escrow: Closing day is finally here. You will need your full down payment and other closing costs at this time. Closing occurs when the title is recorded with the Recorder’s office. This can occur on the same day you sign or very shortly thereafter. Once it is recorded, you get the keys to your new home!
Sounds like fun doesn't it. Buying a home should be a fun and exciting time for you. If you think you may be ready to buy a home, let's connect. We can discuss your options and get you on the path to buying that dream home. Give me a call. (520) 462-4247
Your Arizona Native Real Estate Specialist
Serving Greater Tucson, Greater Phoenix, and Sierra Vista