Home Buyer's Checklist Q & A prepared by the Arizona Association of Realtors

By
Real Estate Agent with Country Ranch GMAC Realty

The following Home Buyer's Checklist Q & A is prepared by the Arizona Association of Realtors and designed to answer some common questions you may have while looking for your home.

1. What are the buyers responsibilities in the transaction?

- Investigate and inspect the property.
- Reasonably consider the age and overall condition of the home.
- Take an active role, ask questions.
- Exercise reasonable care to protect yourself.
- Verify verbal statements.  Get them in writing!
- Review the Sellers Property Disclosure Statement (SPDS), paying particular attention
  to the date prepared and to questions answered "unknown" or left unanswered.
- Hire a professional home inspector and attend the inspection.
- Be aware of all contractual obligations.

2. What is the role of the buyers Realtor?

- Find properties that meet your needs.
- Assist in answering your questions or direct you to other sources for answers.
- Prepare the purchase contract according to your instructions.
- Submit all offers and counteroffers.
- Coordinate all inspections and walkthroughs.
- Promptly communicate the status of your transaction while in escrow.

3.What should the buyer do to investigate and inspect the property?

- Tell your Realtor what is important to you.  Your Realtor can either answer your questions
  or direct you to other sources that can.
- Verify all important information from any source (e.g. MLS information, advertising, etc.) 
  that could affect whether you buy the property or how much you would pay for it.
- Check nearby property uses.
- Conduct the necessary inspections.  At a minimum, your inspection of the property
  should include: the roof, structural integrity, heating and cooling systems, termites or
  other pests, electrical and plumbing, waste disposal, square footage and property lines. 
- Conduct a final walkthrough to verify that the property is in substantially the same condition
  as it was at acceptance and that all the requested repairs, if any, have been satisfactorily
  completed.

4.What other information might the buyer want to look for?

This will depend on your needs, plans for the property, and what is important to you.  The following
checklist contains some of the property non-physical conditions that you may wish to address:

*  Neighborhood or area conditions
*  Schools, day care facilities, health facilities
*  Availability of fire protection, emergency, and other services
*  Crime statistics, adequacy of law enforcement
*  Proximity of registered sex offenders (Check www.azsexoffender.com)
*  Proximity to commercial, industrial, or agricultural activities
*  Existing and proposed transportation, construction and development
*  Views, traffic, airport flight paths, other noises or odors from any source
*  Wildlife and domestic animals; other nuisances, hazards, or circumstances
*  Existence of required governmental permits, inspections, or certificates
*  Governmental limitations, restrictions, and requirements, including zoning and flood plain,
   affecting the use of the property.
*  Condition of common areas and facilities ( if any)
*  Existence of deed restrictions, conditions, covenants and restrictions (CC&Rs), easements,
   or other governing documents
*  Information regarding any homeowners associations, including, but not limited to, minutes,
   financial statements, pending special assessments, claims, and litigation
*  Current or past infestation by termites, scorpions, insects or other pests
*  Conditions relating to your personal needs, requirements, and preferences

You may have a wide range of concerns and may desire additional information or investigation of issues.
Discuss these with your Realtor.  Many times, your Realtor can direct you to the appropriate inspector
or consultant.

5.How can buyers protect themselves from the cost of property defects?

-  Get a home inspection.  The seller and the agents may not know of existing property defects.
   A home inspection is critical to the buyer as it enables a buyer to determine the condition of the
   property before close of escrow and negotiate possible solutions to any problems before electing to go
   forward with the transaction.

-  Get a home warranty.  Buyers are strongly encouraged to buy a home warranty.  However, all
   policies are not alike, so read your policy for possible coverage limitations or restrictions.

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Looking for that vacation home in Bullhead City Arizona, or planning to relocate here.  I can help you find what you are looking for.  Riverfront Homes on the beautiful Colorado River, Manufactured Homes, Site Built, Mobile Homes, and Bullhead City Real Estate.

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Comments (5)

Eddy Martinez
Nationwide Funding Group - Highland Park, CA

This is priceless every buyer should read this blog. THe more reserach a buyer does on the area the smoother the buying transaction will be. Customers are always terrifed during the whole process when they havent done their research.

Dec 13, 2006 06:23 AM
Jay Thompson
Zillow - Seattle, WA

William - I assume you got that off the AAR web site? Got a link? (I know, I could go look, I'm just lazy. And tired.)

 How's the market in your parts? Seems to be picking up come in Phoenix...

A world record for blog commenting!

http://www.ThompsonsRealty.com
http://www.PhoenixRealEstateGuy.com

 

Dec 13, 2006 10:56 PM
Anonymous
William Vines
The link on the site is http://www.aaronline.com/documents/hbc_2.pdf, and is actually in a format you can print out in an attractive brochure format. I have found it very useful information to give to my clients.
Dec 14, 2006 07:37 AM
#3
Robert Thomas
Fairfax Realty Inc - Columbia, SC

William,

Thanx for sharing this. I can definitely use it to help my clients understand how we must be a team to complete their home buying experience.

Robert

Jun 18, 2007 04:45 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Welcome back to ActiveRain!

     I encourage you to take another look at the website.  Surf some blogs, leave some comments.  Better yet, post a Blog.

    Best to you!

Jun 30, 2015 12:54 PM