Looking to buy your new home in Glendale? Arizona Premier Realty Homes & Land LLC. can help.
Buying a home is intimidating for a lot of people. However, with some up-front planning, it isn't that confusing. I like to furnish buyers with an overview of the entire deal so they'll know exactly what to expect. These are my nine steps to purchasing a home.
Step 1 – Prepare to purchase
Before you start your home search, there are several things you should consider.
When you begin your search, you'll probably want to create an outline of features you want, plan for what neighborhoods and school districts you want to live in, and start planning your budget.
A good rule of thumb to follow is that your mortgage payment should be less than 1/3 of your monthly income.
Step 2 – Communicate with a real estate agent
That's where I can help.
I can set up a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Glendale area.
I can also help you begin the loan process. Arizona Premier Realty Homes & Land LLC. partners with some of Glendale's finest mortgage professionals, so you're in great hands. They will assist you in choosing which type of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
Following our initial meeting, I'll begin searching for houses on the market that are a great fit for you.
I'll research many of the homes and reject the duds, and then we'll book appointments to view the houses when it's most convenient for you.
When we tour the houses, I'll call attention to good features, as well as negative ones. I'll even ask you to talk about things you like and don't like.
As a rule, buyers amend their wish list as we view houses and some features become more important than others.
If that happens, I'll go back through all the listings once again and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
An agent's understanding of the Glendale market is an essential component in your house search. And I assure you I'm conscious of all the schools and neighborhoods, and I'll let you know some areas are "hot" and warrant immediate action and the others that are "cool" and allow for careful examination.
As we tour houses, I'll be sure to tell you when the seller's list price has room for bargaining and also when I know the house is "priced to sell." Trust your instincts and make sure you ask your agent lots of questions, as every REALTOR® will tell you they comprehend the home market. If it doesn't seem like they know everything, just call me at 623-594-7680 or e-mail me at brenda@azpremierrealty.com, and I'd be glad to answer any questions you have. My market knowledge will keep you a step ahead throughout the entire process.
Step 5 – Find the home you've been looking for
I know we'll find the home of your dreams in Glendale. When we do, I'll carefully develop your purchase offer. The offer will be tailored to suit your needs, including several contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
Upon presenting your offer, you'll want to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property. The amount is typically applied to the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer, and it's extremely common to receive a counter offer. But don't let it alarm you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
The state of the market will play a large role in how aggressively we negotiate the deal. In addition, we'll work within your financing constraints. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Obtain your loan
After the contract is signed, you'll begin working with your lender to close the loan.
It won't be a long process at all if you're already pre-approved, but you need to keep in close contact with your mortgage lender.
And I'll deal with all the property information your lender will need to close the loan.>
Step 8 – Close the deal
You'll get a Good Faith Estimate (GFE) detailing your closing costs from your mortgage lender within three days of getting your loan application.
This estimate is based on the loan amount. RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then we'll close on your home. This will most often occur at a title company or escrow office and will most likely be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 623-594-7680 or send me an e-mail.