How to Buy a Home In Arizona

How To Purchase A Home In Arizona

New Picture (2)1.  The very first thing you should do is contact a real estate agent. Better known as a Trusted Advisor

Why-  Many people ask this question.  “Why should I use a realtor to help me find a home?  I can use the internet.” This is true the internet is a great tool for helping find properties.  But guess what, most realtors also use the internet and their tools far exceed the abilities of those other websites.  I am sure if you have ever tried to look at homes online you have discovered when you contact someone about a home,  that  home is no longer available.  That is because those sites are delayed.  Technological agents have resources that are up to date and to the minute with accuracy.  Best of all most real estate agents are FREE to use when you purchase.   A realtor will walk you through every process step by step.  Think of it like starting a new job.  When you arrive to work would you want to be thrown in your position and told “good luck”?  Probably not, you would want training on the systems, and processes before you started to be responsible for major tasks and your new employers money.  That is what a realtor provides, think about it.  You are about to sign a legal binding contract for HUNDREDS of THOUSANDS of DOLLARS!!!  Don’t you want to be protected and guided through the process step by step?

2. Get Pre Approved for a loan

Getting pre approved for a loan will help you determine how much of a home you can afford.  This will help you plan out your budget, ensuring that you are protected from future disaster or loses.  Getting pre approved also helps to strengthen your offer in the eyes of a home seller.  When a home seller sees that you have taken the necessary steps to get a pre qualification letter from a home loan establishment “bank or mortgage company” it helps them feel more comfortable when accepting your offer on their home.

3. Start Looking for homes

New Picture (15)    You and your agent will sit down and develop your buyer profile.  This is where you determine what you need and want in your new home.  Once your profile is developed a search will be set up.   This search will keep you informed when  homes come to the market that meet your search criteria, or when a home has a price reduction.  You will be able to track your favorites and watch them on your own time, with 24 hour unlimited access.  When you are ready to go view a home or homes you let your trusted advisor aka realtor know you are ready.  Your agent should be able to show you homes that same day or at least the following day.  NOTE:  The best homes sell very fast, it is important to be first.

4. You found a home, Now it’s time to make the offer.

Phoenix Area HomesThis is where the expertise of your Trusted Advisor becomes very important. You have found a home that fits your needs, wants and desires.  You are excited.  It’s time to head into the office and do some research.  Your Trusted Advisor will pull the property up to check a few things. 1st and most important does the home owner have any excessive mortgage balances that would not allow the sale and 2nd what is the home currently worth.  Your agent will pull up comparable homes that are listed for sale and comparable homes that have recently sold.  This will help your decision in making a good solid offer on the home.  Once you have established a price, your Trusted Advisor will provide you with the proper legal documents to protect your best interest and  secure the property into a legal binding contract.

5. Congratulations, the seller accepted your offer!

You did it, you listened to the advice of your trusted advisor and you successfully entered into contract on your future home.  Now you are  half way done.  Escrow will be opened up with a neutral 3rd party or TITLE COMPANY and a deposit will be put down by you the buyer.  This shows monetary commitment by you in order to secure the offer on the home.  This deposit will be applied towards the purchase of the home when you close.  We recommend Security Title off of Baseline and Stapley.  After the contract is accepted and escrow is opened you need to get the home professionally inspected. Some people skip this step because it costs $400 – $500 dollars.  If you use our team of Trusted Advisor’s we will credit you back at closing for the inspection fee, because we know how important it is.  Home inspections are the number 1 reason contracts are cancelled.  Think of it like an insurance policy.  You spend $400 now and find out the roof is bad and the AC system is about to go out.  We you can either cancel the contract or you can now request the seller fix those items before you purchase the home.  You just saved yourself about $15,000 dollars.  That was a pretty good investment.

6. Completing your Home Loan Process

This is where your lender will provide you with a list of items thatNew Picture (9) they will need to get your loan fully approved for purchase.  This list includes items such as bank statements, pay stubs, current lease agreements, tax returns and a credit report.  A good lender will ensure you have all this done very early so you do not run into potential delays later.  We have a great lender that we recommend as your Trusted Advisor.

7. Getting the Keys

Congratulations, you are almost done.  It is signing day.  Your Trusted Advisor has walked you through everything step by step.  Your mortgage expert has completed your loan early.  It is Friday morning and it is time for the final walk through before you go in to sign your home loan documents at Security Title at 10am.  Your Trusted Advisor will take you through the home one more time before you become the home owner to make sure everything is the same as it was or better when you wrote the offer.  The final walk through looks good, you head to Security Title to meet with Kerry Evans your escrow officer.  Your documents are signed and sent back to the lender.  Then lender then send the funds over to the title company and sets the home up to record the new owner of the home “YOU”.  Its 5pm and you meet your Trusted Advisor to get the keys to your new home!

Thank You!

Thank you for taking the time to read this article about purchasing a home.  We are hear to provide you free quality service as a Trusted Advisor in one of the biggest transactions of your life.  We hope to hear from you, when you are ready to make the move.

Provided courtesy of the Bradley Potter, PLLC Home Selling Team
Homesmart Realty
Hire a positive and proactive Team of Realtors to help you find your next home!
Call or text 480-239-5468 for information on Buyer’s Representation Services
(NO COST TO HOME BUYERS)
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Appraisers Are Not My Favorite People in the world

First a Quick Poll Do you Think Appraisers Should See a Purchase Contract Before Appraising a home?

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     I recently helped a family get into a beautiful home over in the Val Vista Lakes community.  The home is 2911 St, two story with 4 bedrooms, 3 full bathrooms and a loft.  The home Was listed at $330,000 and with my help and negotiation skills we were able to get the seller down to $310,000 for the sales price with $1,500 paid towards our closing costs.  The buyer stated and I quote , “I am as happy as a pig in mud”  classic and comical.

     So we got off to a good start we were $21,500 below list price.  The average home was listed for $133 a sf, we just locked down our contract at a value of $106 a sq ft.  There were some minor repairs that needed to be done from when we did our walk through. But we still needed to get into our deep dark home inspection and really break down the integrity of the home.school reports 2

     The DAY OF THE INSPECTION.  The home is in pretty good shape except the roof has some minor issues.  We got a licensed roofer, well actually 2 roofer’s to come out and inspect the roof more thoroughly.  To replace the roof it would be $6,500 dollars, to just make repairs it would be about $1500. ( Yea $6500 to replace the roof, Hit me up if you need a good roofer that is cheap ).  So not to big of a deal.  We are $21,500 below the list price of the home and $27 below the average price per sq foot for the community.  We are still in great shape.

     DAY THE APPRAISAL COMES IN –  The lender calls me up and says congrats the appraisal came in at the contract price.  My response was not  excitement.  I was not happy with the results and asked the lender to forward me a copy to review.  Upon reviewing there was not one comparable that the appraiser used that supported the low $310,000 sale price in fact he used homes that were $20 to $30 thousand dollars more. One  was $27 a sq foot more than our property. If you take 2911 sq feet x $27 a sq ft that equals $78,597, just a small difference here, right?  Now you may be wondering why I was upset.  Well when your client thinks they are getting a great deal and the appraisal only comes back at the purchase price of the home, some buyers get discouraged and want to back out.

     Luckily I had explained to the buyers that it was very likely that we would get an appraisal just like the one we received because appraisers now a days are too conservative and worried that the banks will get upset with them if they appraise the home higher.  Now this brings me to my thought process, appraisals are supposed to be done by a non biased, licensed 3rd party to the transaction.  Well if the appraiser is supposed to come up with the true value of the home, the appraiser should never receive a copy of the purchase contract.  They don’t get a contract when they do appraisals for a refinance!

    Make sure you educate your clients before hand to help set the expectations so that you don’t have a deal killer later.

Stop Renting

Gilbert Home for Rent in Val Vista Classics

We have an amazing property available here in the private gated community of Val Vista Classic in Gilbert Arizona.  The Val Vista Classic community is located in an excellent location off of Val Vista and Pecos. Just 1 mile East is the San Tan Mall & San Tan Village shopping center with entertainment and restaurants.  To the south just 1 mile is the 202 Freeway, making it quick to get on the move, no waiting at multiple stop lights.

The quiet community provided 3 swimming pools to keep nice and cool in the summer time, 5 beautiful lakes with water features and a basket ball court to keep your competitive spirit entertained.  The property 2634 S Harmony Ave is located to the North West of the community right in front of the 1 acre grassy common area with large trees and walking paths.  This is a common location for people walking their dogs and socializing with each other.

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This beautiful home offers the 2nd largest floor plan in the community.  It was recently remodeled in 2013 with granite counter tops, tile flooring in the kitchen and bathrooms, wood flooring in the common areas and carpet in the bedrooms.  All rooms have ceiling fans with lights.  The windows have blinds to keep the sun out and the heavy insulation helps keep the energy costs low.  The living room and kitchen are very spacious with lots of room for entertaining.

For more information call our pre recorded Hot line

about this property 800-218-7929 ext 105

http://www.MyPhoenixAreaHomes.com

 

Ahwatukee HOT LIST of 4 Bedroom Homes Under $300k

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Your Ahwatukee HOT List of 4 Bedroom Homes Under $300,000

Here you will find access to the latest listing in the Ahwatukee area for under $300,000 dollars. These 4 bedrooms homes sell very quickly in the 85044 & 85048 zip codes. We have got the quickest and most up to date access to all these high demand homes in the Ahwatukee area.

Stop RentingAhwatukee is a very family oriented community, with award winning schools, South Mountain recreational area for hiking and mountain biking, clean parks, pecos swimming pool and skate park. People want to live here so they can be a part of all these amazing attractions. The Ahwatukee entertainment district down on Ray road provides an AMC theater, restaurants and shopping for everyone to enjoy. Ahwatukee is also located in a very convenient location next to to I-10 Freeway, US 60 Free Way, South 202 Freeway and 15 minutes from Phoenix Sky Harbor Airport.

Phoenix Area Homes

We thank you for reading about the Ahwatukee area and we hope you find our HOT LIST tool beneficial. Reminder all our clients are enrolled in the VIP BUYER Program with People’s Mortgage and American Family Insurance. You receive a Free Home Warranty, Free Appraisal and 12 Months Free Home Owners Insurance. As a VIP BUYER you also get our 100% satisfaction Guarantee. If the home we help you purchase makes you unhappy after 18 months we will sell the home for FREE!

THE HOT LIST OF 4 BEDROOM HOMES IN AHWATUKEE UNDER $300K CLICK HERE

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Distressed Sales/Bank Foreclosures Hotlist

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Your Customized HOT LIST of Distressed Properties!

Distress sales resulting from bank foreclosures often represent a great way to get a fantastic deal on a home. It’s not easy for the average home buyer to find these deals because you have to keep searching to see when one comes up.

If you’re the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about a new free service which automatically searches out and downloads a current list of all such properties day in and day out.  When you receive this free, no obligation service, you’re automatically plugged in to the most current list of Foreclosure Properties on the market in the price range and area that interest you.  You can also have access to updates of the list as new properties are added to it.

Here’s how it works.  You will receive a FREE report listing the current Foreclosures properties (including photos) in your desired price range and location.  There is no cost for this information and absolutely no obligation.  This insider information, sent to you in an incredibly simple and efficient format, will give you a huge advantage over the other buyers in the marketplace.

you can request this free “Distress Sales and Bank Foreclosures Hot list” by filling out the information necessary below.

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Provided by Bradley Potter, PLLC Homesmart Realty

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Free Quick Over the Net Home Evaluation

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Free Quick Over-the-Net Home Evaluation

Find out what your home is really worth!

Knowing what your home is worth is important to have if you’re considering selling.

By providing your address and a brief description of your home, the system will conduct a thorough comparative market analysis by searching the database for similar homes listed or sold in your area.  We will have the full report of your property to you within 2 hours or we will buy you a steak dinner at outback steak house.

With this current market data, you will be able to determine what your home might sell for if you decided to put it on the market.

There is no cost or obligation for this valuable service.

For your FREE Home Evaluation, please provide the information necessary.

 

 

New Picture (3)Provided by Bradley Potter, PLLC of Homesmart Realty to receive the steak dinner you must list your home with us.

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Don’t Pay Another Cent in Rent to Your Landlord Before you read this Free Report

Stop RentingGet FREE Instant Access by completing the form on this page below.

If you’re like most renters, you feel trapped within the wall of a house or apartment that doesn’t feel like yours.  How could it when you’re not even permitted to bang in a nail or two without a hassle.  You feel like you’re stuck in the renter’s rut with no way out and never being able to own your own place.

Well don’t feel trapped any more!  A new FREE Special Report entitled “HOW TO STOP PAYING RENT and OWN YOUR OWN HOMEhas already helped dozens of local renters get out from under their landlord’s finger and move into a wonderful home they can truly call their own.  You can make this move too by discovering the important steps detailed in this FREE Special Report.

It doesn’t matter how long you’ve been renting or how insurmountable your financial situation may seem.  With the help of this report, it will become suddenly clear to you how you really can save for the down payment and stop wasting thousands of dollars on rent.

Order this report NOW and stop wasting thousands of dollars on rent.

 

 

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Report provided by Bradley Potter, PLLC of Homesmart Realty

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