Your Professional Realtor, Joy Brewster
A successful purchase starts with the right representative. As a professional Realtor, a member of the National Association of Realtors®, not only do I guide you through the entire purchasing process from beginning to end, I can also recommend other professionals to join our team, taking more of the responsibility off of your shoulders.
Get Pre-Approved by a Qualified Lender
First, do you know what monthly payment you can afford, i.e., your own, personal home affordability? Do you know what type of loan is right for you? You want to make sure that your lender and financial representative is someone with whom you feel comfortable, and be wary of any lender who promises you more than you think you can reasonably afford. Having worked with many lender professionals, I can recommend one that fits your needs, one who can investigate all your options -- it is your money we’re talking about after all!
Why get pre-approved and not pre-qualified? According to one school of thought, when you are "pre-qualified," the lender is making an educated guess about how much you can borrow based on information you've provided. When you’re "pre-approved," the lender has verified everything you have told him or her and is offering to lend you up to a given amount at current interest rates -- under certain conditions. By meeting with loan officers in advance and identifying mortgage programs, it won't be necessary to quickly find a lender, check credit, and rush into a financing decision that may not be the best option. In Arizona, a Loan Status Report must accompany the purchase contract when making an offer to a seller.
After the seller accepts your offer, 10 days is the magic number!
A number of inspections are common in residential real estate transactions. They include checks for termites, appraisals to determine value for lenders, title reviews, structural inspections, and, in some cases, surveys to determine boundaries.
Structural inspections are particularly important. During these examinations, an inspector comes to the property to determine if there are material physical defects and whether expensive repairs and replacements are likely to be required in the next few years. Such inspections for a single-family home often require two or three hours, and buyers should attend. This is an opportunity to examine the property's mechanics and structure, ask questions and learn far more about the property than is possible with an informal walk-through.
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that “surprise” down the road. I have worked with a number of reputable home inspectors, and I would be happy to recommend one should you request it.
When is the Home Yours?
For most owners, a home is the largest single asset they hold, so it makes sense to protect that asset. After closing, many owners make a photo or video record of the home and their possessions for insurance purposes and then keep the records in a safety deposit box. Your insurance provider can recommend what to photograph and how to secure it.
Lastly, enjoy your home! Owning real estate involves contracts, loans, and taxes, but ultimately what's most important is that home ownership should be a wonderful experience. Enjoy!
If you are ready to begin the home buying process, give Joy a call today, (623) 205-8112 or e-mail email@example.com.