Buying a Home

Knowledge and experience are the keys to a successful real estate transaction. Sarah has all of the tools necessary to help make your home-buying process easier and more understandable. Her #1 goal is to provide you with the most informative and professional services available.  Here is an overview of what you can expect throughout the home-buying process.

You have already made a wide decision to consider Sarah to assist you with the process of purchasing a property. Your next step is to speak with a lender and complete a loan application. This will allow the lender to issue a pre-qualification form, which must be submitted with all offers when purchasing a home.

Most transactions require financing to assist in the purchase. A lender can be a mortgage company, a bank, private financing, as well as other options. Whichever you choose, the lender plays an extremely significant role in the transaction. You will be asked to complete an application, provide documentation and verify your income. You may also be asked to give permission for your credit score to be checked and for your assets to be verified. There are numerous steps to take to secure financing, and your cooperation with the lender is a key ingredient to experiencing an on-time, relatively stress-free closing!

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Choosing the Right Home

The choice is yours

A home is more than just a collection of rooms and walls. A home is where you live, raise your family, entertain friends and relax after a hard day’s work. Since so much of your life is spent in your home, choosing the right one for you is an enormous decision.

It is important to consider your priorities and the list of features you are looking for in a home. Sarah will sit down with you and help you determine what you are looking for your in your new home and the ideal properties for you to consider.

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Some things you should think about while creating your list include price, location, and your future needs. Everyone is different, and some of us may trade four bedrooms for a big kitchen! A larger backyard may make up for a longer commute to the office, the number of bathrooms may be more important to a growing family, or a single story home might be necessary for someone who has difficulty climbing stairs.  It may be the very first home you look at or the very last one; in either case, we will help you find the place you can call home!

Inspection

Professional home inspection

Every home buyer in Arizona is entitled to conduct a series of inspections on the property they are about to purchase. After your offer has been accepted, Sarah will assist you in hiring a professional home inspector to conduct an inspection of the property. 

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Some of the items typically investigated during an inspection are plumbing, A/C, heating, electrical, structure, foundation, roof, and attic. If any of the previous are areas of concern, Sarah will assist you in finding a specialized professional that can help further evaluate that area of the home.  

It is around this time you can expect to be provided with a Property Disclosure Statement from the seller, which contains all information related to the sale of the property. Be sure to read through it carefully and ask any questions you might have during your inspection period.

In addition to formal inspections, buyers should consider other methods of obtaining information about the property. For example, talk to your potential neighbors and drive around the neighborhood during different times of the day. While touring the neighborhood, consider things such as proximity to freeways, airports, and schools.

Sarah will also provide you with resources for obtaining information on crime statistics, city planning and zoning, school information and environmental concerns which may affect your decision to purchase.

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This is often the biggest purchase of anyone's life, so we want to make sure you feel comfortable moving forward with your new home.

The Offer

Get the guidance you need

You have probably gone through quite a bit of searching and preparation in trying to find the home you wish to purchase. Sarah has been there for you, showed you properties based on your initial list of desirable features and helped narrow down your options. At this point, you will have found the home you want and you will be ready to make an offer!

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There are a number of factors that will affect your decision on what to offer on the property. Market conditions are always a factor. For instance, if it is a “buyer’s market,” you will have more negotiating room for the property. In a “seller’s market,” you may want to place your best offer upfront in order to be the one chosen by the seller.

The values of the properties around the one you want are also factors that should be considered. These figures are typically called the “comps.”  Sarah will show you all of the properties on a list that have closed or are for sale in the vicinity of the property you are making an offer on. These comps must be analyzed and a realistic value for the property can be established. There will be an appraisal on the property after you have completed your home inspection, and often what you are willing to pay for a property and what an appraiser determines as its value are two different numbers!

You will also want to establish the closing date before writing an offer. If you are obtaining a loan, a lender will generally need about 30 days to complete your loan, order and evaluate the appraisal and furnish the closing documents.  Typically, after an offer is accepted, you have 10 days to inspect the property and do your due diligence...yes, you have homework too!

There are other terms to be considered when placing an offer that may affect whether or not the seller is willing to accept the offer or whether you are willing to accept the seller’s terms. Some of the factors to consider are if a home warranty will be included and, as stated previously, what market conditions currently are, if you are going to ask the seller to help cover closing costs, and so much more.  Sarah will review every possible item that is negotiable with you before writing an offer.

An offer to purchase property is a legally binding document that is why Sarah will review it in detail with you prior to your signing.  She wants to make sure you understand it all and feel comfortable moving forward.  You should always feel free to consult an attorney or tax advisor to obtain further information you deem necessary. We want you to be prepared but also enjoy this exciting experience. Anything we can do to help, just ask!