Buying a Home

buyers buyingahome Buying a Home

Why You Should Work With a REALTOR®

When you’re ready to buy or sell a home, the person you choose to guide you in your search and represent you in your purchase or sale is extremely important.

The truth is, not all real estate agents are a REALTOR®.

A REALTOR® is the official “registered trademark”, which identifies your real estate expert as a member of the National Association of Realtors® and a person who adheres to a strict “code of ethics”.

5 Reasons Why You Win With A REALTOR®:

1) Your REALTOR® helps you find the right home with the best possible terms, PLUS they also “walk you safely through the contractual process”, from A to Z.

Whether you’re buying or selling your home you’ll need disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and sometimes stacks of settlement statements. Your REALTOR® is an expert guide in these matters and well schooled to help get you the very best bargain, PLUS guide you to avoid dangerous pitfalls and costly errors.

2) Your REALTOR® gathers “objective information” and opinions.

Your REALTOR® offers helpful information about the community, the utilities, zoning limits, schools ratings, and more. Your REALTOR® will also give you “objective information” concerning the property’s social and economic environment as to whether it’s a valued investment or a sound home for your family.

3) Your REALTOR® will help you “find the best real estate investment” on the market. Too often the perfect property for you is available, but not yet publically advertised. Your REALTOR® has access to other market resources to help investigate and uncover those often elusive real estate properties.

4) Your REALTOR® has vital “negotiating skills”.

The bottom line is it all comes down to negotiating price, financing, terms, date of possession, getting repairs, furnishings, or necessary equipment. Your REALTOR® will also negotiate a fair amount of time into your purchase agreement to ensure all your necessary inspections, assessments and/or investigations of the property are satisfactorily accomplished before you buy.

5) Your REALTOR® has real estate “marketing savvy”.

As you know if you’re investing real estate now, someday you may want to sell it and the truth is your real estate property just won’t sell itself, there’s a lot more to selling than just listing it. That’s when your REALTOR® pull a few strings of influence and utilize an entire team of people such as their loyal clients, client referrals, investors, colleagues, attorneys, friends, and family. Plus it’s comforting to know your REALTOR® will always prescreen and accompany only qualified buyers when showing your real estate property.

7 Qualities Your REALTOR® Will Possess:

1.   Familiar with the Economic Areas and local communities.

2.   Educated on the specific state and local real estate laws.

3.   Skilled with groups and one-on-one negotiations.

4.   Dedicated to ongoing learning programs and furthering their educational certifications.

5.   Technologically up-to-date on the latest marketing applications.

6.   Supported and backed up by a professional legal team.

7.   Willing to fight for your concessions and rights.

Your REALTOR® Gives You A Financial Strategy!

Before you begin your real estate search getting pre-qualified for your loan will help you in 5 ways:

1. Discover the price range you can afford.

2. Learn about the types of loans you qualify for.

3. Calculate what your monthly payment will be.

4. Estimate your down payment and closing costs.

5. Prepare you for placing a timely offer.

Your REALTOR® Also Helps Document Your Loan Process

Your REALTOR® will help you to select an experienced mortgage lender. Once you have made your decision, these are the steps of the process:

Once all your important documentation is organized, your REALTOR® will help explain and prepare any fees and down payments, and then you’ll get your Good Faith Estimate (GFE) and your Truth-in-lending statement (TIL), which itemize the rates and associated costs for your loan.

Naturally you’ll need to have certain documents in order for your lender to get your loan processed for approval or underwriting.

Loan underwriting takes about 2 to three business days. At which point everyone will be notified of your approval and any loan conditions to be met before your loan can close.

After everyone has properly signed the loan documents, the lender will wire the loan funds and that’s how you buy real estate in a nutshell.

First You’ll Need Help Finding the Right Real Estate Property

Once you and your REALTOR® determine what it will take to find you the perfect home, like what location, how many bedrooms and bathrooms, tri-level, bi-level, ranch, condo, pool, tennis court, Koi pond, horse property, schools and amenities . . . then your Realtor® can begin applying their expertise.

Your REALTOR® has an exhaustive knowledge of the community as well as the professional resources to research available properties. It’s wise to coordinate your Internet search together and always let your REALTOR® know what you’ve found as soon as possible so an appointment can be arranged to show you the property.

Naturally as you see what’s available and become more familiar with the communities within your search, you will modify your criteria to narrow to find something more to your liking. Having an open and dynamic relationship with your REALTOR® is crucial for the success of your Phoenix, Arizona Real Estate Property search.

Your REALTOR® Helps You Make Your Best Offer

After you’ve found the real estate property of your dreams, your REALTOR® will put their many professional skills to use, taking all the necessary steps to help you structure your best offer.

Once your best offer is on the table, the seller will have the option of accepting, rejecting or making a counter-offering. Your REALTOR® can then negotiate the best possible terms for you to win.

Your REALTOR® will draw up your purchase agreement for you, advising you of protective contingencies, customary practices, and local regulations. Your REALTOR® will also arrange for all the details of your warranty, title and escrow to be placed in your offer. Your REALTOR® is your hired real estate guide, expert advisor and technical assistant, they are only here to help you make the best of your own efforts, however the power of choice is yours and in the end they can only offer the price and terms you agree to offer.

Your REALTOR® Helps You Manage Your Escrow Account

When your purchase agreement is finally accepted and properly signed by all parties, your REALTOR® will then open an escrow account for you to deposit your earnest money in. Your escrow account is assigned to a neutral third party or fiduciary, who receives, retains, and distributes all the money associated with your real estate transaction.

Your REALTOR® Helps Remove Contingencies

Before you close your escrow account, each of the contingencies of the Purchase Agreement must be settled. Your REALTOR® will take care of this entire process.

6 Typical Contingencies Include:

1. Pest inspection and certification.

2. Physical inspections of the property.

3. Acquisition of homeowner’s insurance.

4. Approval of the preliminary title report.

5. Loan approval, including an appraisal of the property.

6. Approval of the Seller’s Property Disclosure Statement.

Closing Your Escrow And Moving In!

After each of the conditions of the purchase agreement has been covered, then your loan documents and closing papers can be signed. Next you will deposit the remaining balance of your down payment and closing costs into your escrow account, then your lender will deposit their balance of the purchase price. At that point the deed can be recorded at the County Recorder’s office and you can move into your new home.

Your REALTOR® Is The Key To Your Next Move

Your REALTOR® is a priceless source of honest help for everything from preparing, finding and acquiring your new home. A good REALTOR® is truly the key to your next move . . . I hope you choose me!