If you are a first time buyer looking for a home in the Phoenix area, moving up the ladder or a seasoned investor, having a realtor that really understands your requirements and lifestyle, is vital to achieving your goals. We have selected some of the best, most experienced local realtors, to locate the home, building or land you need.
Our agents will assist you achieve this goal in the shortest possible time frame and as economically as possible, while keeping you updated, every step of the way.
The agent acting for you on a purchase, will be able to answer any questions you may have about the area and neighborhood, submit offers and negotiate the best possible terms on your behalf. They will also provide relevant advice, as required. By engaging a buyer’s agent you can be confident that you have a professional protecting your interests every step of transaction.
In any market, buying a home can be a challenging and often stressful process. However, by selecting a realtor that is committed to finding you the right home and working as a team , we can make this an enjoyable and stress free.
Express Home Search FOR PHOENIX, ARIZONA
Click the link below, to access Phoenix homes for sale in your chosen category. To view other areas click the link and enter your desired location and price range.
- $800,000 +
- 3 Bedroom
- 4 Bedroom
- 5 Bedroom +
- Golf Course Homes
- Rental Homes
HOME LOAN Pre-Approval
Bring aware of your budget is a vital step in your home buying success and being confident of your ability to maintain affordability should unexpected events occur.
It is advisable to obtain a pre-approval from a mortgage lender before beginning your home search, so you are confident of your desired budget and affordability. This will not only make you home search much more efficient and cost effective, but will also improve your credibility with home sellers.
There are various methods to determine your affordability, which are usually calculated using a percentage of your your gross income, as a measure . The generally accepted figure is around 25% , which is to include mortgage principal, interest and taxes. This is only a very approximate guide and you should discuss your individual requirements with your financial adviser. Our experienced real estate team can offer guidance on how much to budget for taxes and insurance on the particular property.
Phoenix Quality Home realtors will offer advice on Title issues and insurance, which should protect buyers from losses arising from problems of undisclosed liens, easements, encroachments, forgeries, errors on title, lawsuits or unpaid taxes on home purchases. A very brief definition is below:
Liens: A legal claim of ownership.
Easements: A legal right to use another person’s land for a particular use.
Encroachments: Something that crosses the neighbors property line.A title search will normally uncover these issues but there is always the possibility of something unexpected. This is where a insurance policy will protect your interests from issues that occurred before your ownership.
The realtor will be able to explain the two main types of policy, one protects the owner and the other protects the lender.
Lender’s title insurance
A one-time premium paid at closing, which covers the lender for the full amount of the mortgage.
Owner’s title insurance
Items on searches are sometimes missed and so it is advisable to have a policy of this type.
A new lender’s policy will be required if you refinance your loan as the lender will need to determine if any new issues have arisen since the first policy was commenced.
There may be problems that show on your title report which may cause the purchase to end but many issues can often be resolved. This is where having an experienced realtor acting for you is a very valuable asset that can potential save you a great deal of time and money.
THE Escrow PROCESS IN HOME BUYING AND SELLING
The purpose of Escrow is to ensure the purchase satisfies all agreed terms of the sale and ensures accountability for buyer and seller. Escrow is a facility where a neutral third party administers the transaction and holds vital documentation and funds secure.
The period of escrow begins after the buyer’s offer is accepted by the seller and ends at the closing.
The buyer will open an Escrow account using earnest money, showing good faith to the seller.
There may be contingencies which must be met concerning title, mortgages, or works to the home. Purchasers will want to be confirm all conditions are satisfied before allowing the seller access to funds and sellers want to be certain that payment will be received before releasing title deeds.
In accordance with the agreement between the buyer and seller, the Escrow company distributes funds and other information at closing. This protection is required and means that buyer and seller do not exchange funds directly at any time.
In basic terms, the closing is final execution of all agreements made with the seller and your lender for the purchase and finance of the home. If a mortgage is involved the loan will close at the same time. At this time, the balance of funds whether that is from cash, mortgage or a combination becomes fully payable and the transfer of documents takes place. At this time the amount from the purchase loan, less fees is received by the purchaser and a promise to pay the lender is given along with setting up a lien on the home. The existing loan is cleared by the seller and the agreed commissions are paid to the respective realtors.
After closing, the purchaser becomes the new owner of the home and will normally take possession straight away, unless there has been some agreement to the contrary. Agreements that have been made to reimburse costs such as property taxes or prorated services will be carried out.
Phoenix Quality Home realtors, will be on hand to help you achieve your goals, every step of the way.
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