X
480-355-4000
480-355-4000

Blog

The Home Buying Process in Arizona

 

Getting the Keys to Your New Home

Want to buy a home in Arizona and wondering what the process is? While there is tons of paperwork involved and many steps, the process is actually quite a simple one. If you understand what is involved, you will have a stress-free buying experience.

The first step of the home buying process in Arizona is locating the property you want. Then you make an offer on the house. Searching for the house is the most time-consuming step of all. It can take weeks, months and sometimes stretch into more than a year. A lot will depend on your needs and preferences, as well as the market knowledge and expertise of your real estate agent.

Once you place an offer – which can be over or under the listing price - the next step involves the acceptance or rejection of said offer by the seller. There may be negotiations involved at this stage, and after a price is settled, a preliminary contract will be signed. But the house isn't yours just yet.

The next step is performing an inspection that will reveal all the necessarily repairs and structural problems that could influence the buying price. This inspection may help you negotiate the price a bit, so further haggling may ensue.

When a final price is agreed up on by both buyer and seller, the real hard paperwork begins. This may involve meetings or lengthy communication with a real estate agent (if you don't already have one), an insurance broker and a mortgage lender. All the paperwork required for completing the transaction has to be filled in and submitted without errors. This paperwork can include loan related documents and a settlement sheet, the latter is where the exact cost of the property is mentioned. The paperwork is what can be most mind-boggling, but only because it is really quite lengthy, not because it is complicated.

If your offer gets rejected, the only solution left is going back to the first step and start all over again.

The whole process of buying a home can seem a little tedious and can indeed be extremely tedious, especially for first-time buyers. That's why it's usually a good idea to hire a good real estate agent from the get go. 

 

 

Image courtesy of jannoon028 at FreeDigitalPhotos.net



Posted on: Friday 30th of January 2015
Written by: Curtis Johnson

Go To Top ↑