You’ve found a property you like online…
Call/Text us immediately, we will verify that the property is available and schedule a time to tour. We can either do an in-person tour, video walk-through or face time. If you are in town, I would encourage you to visit the property with one of us. This will confirm your feelings about the property? If you don’t like it, it’s ok. Let’s keep searching.
Yes, it’s confirmed, you really like the property…
But you’re not sure if your caught up in the moment or making decisions too quickly. Let’s face it, buying a home is a big investment and our market is fast which can be stressful.
As your advisor, these are my top tips to test your logic and ensure the home really is perfect for you.
*Visit the property at different times of the day
*Spend time researching the neighborhood and your commute to/from work/school.
*Have us run comparables for you
You have done your research and are ready to make an offer.But Wait… Have you spoken to a Loan Officer and received a pre-qualification? If not, we have great local lenders that can get you pre -qualified within an hour or two.
Let us explain the purchase contract to you. Here are the most important items on that 10 page document:
*Offer Price – Your initial or best and final purchase offer depending on the situation.
*Earnest Money – A form of security deposit for 1-2% of the offer price on the home. The earnest money is kept and secured with the title company.
* Loan Amount – How much are you financing? Additional down payment is due on or before the close of escrow (usually 5 to 20%).
*Close of Escrow – Typical loans in AZ are 30 to 45 days.
*One Year Home Warranty – Would you like one and if so who is purchasing buyer/seller?
Nicole and I know how to present strong offers to sellers. In fact, we are experts at this! We know that each scenario will be different and will always inform and educate you while you make the final decisions on how to move forward with your offer.
We submitted your offer, now what happens?
We wait for the seller to respond with either an acceptance, rejection, counter offer or multiple counter offer.
You get your offer accepted, are you nervous yet?
Don’t worry… the Arizona purchase agreement is set up to protect you the buyer. The inspection period is typically 10 days but can be changed during negotiations. This time is used for buyers to perform all inspections necessary to decide if they would like to ask for repairs and give the sellers a chance to correct items or to cancel the contract and receive their earnest deposit back. As soon as your offer is accepted we will schedule your inspection with a certified inspector. The inspector will visit the property and will perform a visual observation for health, safety or major mechanical issues. They are set up to uncover material facts on the home and to educate the buyer about the home.
Buyers Response to the Inspection Report
Doing your due diligence before purchasing a home will ease your mind and prepare you for what repairs the home will need. At this time, you decide what items you would like the seller to repair. You also have the option of asking for money in lieu of repairs or both. The seller has the opportunity within 5 days, to accept repairs, none of the repairs or partial response. Depending on the seller’s response, you may have up to 5 days to accept their response or cancel the contract.
Seller and Buyer Agree!
This is a big deal that we are 2 weeks into this deal and both parties are agreeable. This is a micro celebration as we have 2 more weeks left. What happens next?
Appraisal
The loan officer is working behind the scenes getting all your documents organized in a pretty little package for the underwriters (or as we like to call them the undertakers). And before the loan officer submits for a final loan approval he must have the appraisal in the package. They usually order this appraisal during or right after the inspection period is over. Once it’s received and property comes in at or above value, the loan officer is ready to proceed with the final loan submission for loan approval.
Loan Documents are Ready to Sign …Exhale!
We are 3 days before closing and Title is awaiting the loan documents to come through to schedule your signing. We receive a Settlement Statement from the title company and we review to make sure all numbers are correct, once we approve, the title company will schedule your signing appointment for a mobile notary or to come in and sign at the escrow office.
You signed, the sellers signed! –
Congratulations! Your loan is funded and the title company recorded the sale of the property and you are ready to pick up the keys and move in.
It’s time to celebrate your major win. You are now a lucky Homeowner of Arizona!
We are so happy for you and so grateful that you embarked the journey with us. What happens next? We become lifelong friends, of course and welcome the opportunity to not only serve you as a realtor but as a new trusted friend. Are doors always open to be a resource for you and to celebrate with you all your wins in Arizona.
– Nicole Humphrey & Cindy Davis
