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Buying a Home

Buying a Home Should Be a Great Experience

The key to finding the right home is asking the right questions. What features are the most important to you for your new home? Is it the location, the number of bedrooms, the size of the home, the style of home? Let us know what you like and dislike and we’ll help you find the right home. We can show you all the homes in the Tucson Area MLS (Multiple Listing Service), all the homes in our company and those in other companies, as well as Builders homes. We would be pleased to provide you with a Buyer's Information Packet which will guide you through the steps in your home search. Call us, text us, or email us if you are interested in receiving this valuable tool or have any questions.

Buyer Tips

The Buying Process

Whether you are a First Time Home Buyer or a seasoned veteran in the process of purchasing a home, questions are bound to pop up. We’ll be pleased to answer and address any questions you might have. Things change all the time. In the interim, if you want lots of details, take a look at the "Buyer Advisory" the Arizona Department of Real Estate and the Arizona Association of REALTORS® have provided. It's an excellent publication which describes the common documents used in the purchase of real property in Arizona and it also provides lots of additional useful links.Buyer Advisory

REOs

When purchasing a Bank Owned Property (REO) you will need to provide a Pre-Approval Letter from your lender indicating that you have funds available to make the purchase. Earnest Money will need to be attached to the offer. The amount will be specified in the Listing. Be aware that most REO properties are sold in "As Is" condition, hence, the sellers will as a rule not make any repairs. Your REALTOR® will explain the various documents which will need to be signed. Make sure that you understand the terms and conditions of the purchase. Frequently there will be per diem charges assessed to the Buyer if he fails to close by the contract date if it is his fault.

Making an Offer

You found the house that meets all of your needs, but you want to sleep on it before making an offer. Keep in mind that it is possible that another buyer did the same thing the day before and is now ready to make an offer. If the house is perfect for you, don't hesitate to make an offer. Be sure, however, to have your REALTOR® do a CMA (Comparative Market Analysis) on the property to enable you to make an informed decision.

Low Ball Offers

We've all heard someone tell us that they made a low ball offer on a house that was accepted by the seller. It happens occasionally, but more often than not an unrealistically low offer will aggravate the seller to the point that he'll not only reject it, but won't even consider a counter offer from that buyer. Your REALTOR® can look up the history of the property and will help you negotiate a fair price for the house.

Pre-Approval versus Pre-Qualification

One of the best ways to strengthen you bargaining position in the purchase of a home is to obtain a commitment from your lender that he will loan you the funds to purchase the home. It's called a Pre-Approval. A Pre-Qualification letter on the other hand shows that you are likely to be able to afford the home, but it is not a commitment. This is especially important in a competitive market or if you are asking the sellers to make concessions such as paying closing costs. Many sellers will not even consider offers without a Pre-Approval Letter.

Why do I need a REALTOR®?

Experienced full-time, full-service, professional REALTORS® will team with you to find the right home based on your requirements regarding style, location, and price. REALTORS® understand the local market, its unique characteristics, & trends, providing you with effective guidance throughout the home buying process. REALTORS® will handle all the detail work and negotiations from start to finish. Your agent will address Inspections, Title Work, Surveys, C.L.U.E. reports, and a myriad of other details involved with purchasing a home. Buying a home is one of your most significant investments in life. It involves many decisions. Team up with an expert to ease the process. It would be a privilege to help you find a home. Call us today at (520) 432-0880 x 21 or click here.if you have any questions.

Contact a Lender

Before shopping for a home it is essential that you contact a lender and apply for a loan. You need to obtain a pre-approval letter, which is a commitment in advance from a lender to give you a specific loan. Please remember that a pre-qualification is based on a lender's opinion, not on verification. Taking this important step will validate your ability to purchase when you find the right home. Equally important is the fact that a pre-approval letter from a lender carries substantial weight with a seller when making an offer. It indicates that you are a qualified buyer, that you are serious about pursuing the purchase of a new home. Also, it gives the seller peace of mind that when the home is sold it can be taken off the market and placed into "pending" status. Call us today at (520) 432-0880 x 21 or click here if you have any questions.

How Do I Take Title in Arizona?

There are numerous ways of taking title in Arizona. Among these are Community Property, Community Property with Right of Survivorship, Tenancy in Common, Joint Tenancy with Right of Survivorship, etc. Keep in mind that Arizona is a community property state; hence, there is a statutory presumption that all property acquired by a husband and wife is community property. It's a method of co-ownership for married persons. You should always consult an Attorney and/or a CPA to determine which option is best for your circumstances.

What Is Escrow?

In the sale & purchase of a home in Arizona, it is customary for the Buyer's Real Estate Agent to "open escrow." That is, deposit earnest monies, purchase agreements & related documents with written instructions to a neutral party for the processing of settlement procedures for the transfer of ownership of the property. These Escrow Agents (Escrow Company) are regulated, bonded & licensed by the state banking department. The principals to an escrow are the buyer, seller, lender and borrower. Once all the written instructions and conditions in the escrow have been met and completed, the closing will take place. Click for Video

What Is Underwriting?

Underwriting is the process used by mortgage lenders to assess the risk in loans they make. Lenders want to make sure that a borrower can meet his obligations and that the value of the home matches the size of the loan being requested. In the underwriting process the applicants' income & assets will be verified, their credit scores and credit history will be checked, their work history will be reviewed and the home they intend to purchase will be appraised. Click for Video

What are CC&Rs?

Covenants, Conditions & Restrictions, sometime called "Bylaws", dictate how a homeowner can and cannot use his property. CC&Rs are usually drafted by developers to not only stipulate minimum standards such as easements, setbacks, size of lots & homes, but also to establish rules and policies whose goals are maintaining property values. Covenants, Conditions & Restrictions complement city codes and could be more restrictive. When buying a home be sure to obtain and read copies of the Homeowner Association Bylaws (HOA) prior to making an offer. Be sure that you understand them and clarify any item of concern. Don't hesitate to contact an attorney for advice. Click for video

Listingbook is an on-line service we offer Buyers and Sellers to enable them to search for homes if they are buyers, or check out sales trends in their neighborhoods if they are sellers. Listingbook provides access to our Multiple Listing Service (MLS) data, public records, recent & past sales as well community and school information. It offers our industry’s most accurate, comprehensive and up-to-date information in a user-friendly format. You will be provided with a free Listingbook account so that you can search for homes at your leisure on a 24/7 basis. It's a great way to get connected to the most timely and accurate local real estate data. Click Here to get a free Listingbook account.

What Is Polybutylene?

Polybutylene is a form of plastic resin that was used for water pipe manufacture from 1978 until 1995. It should not be confused with polyethelene pipe which is extremely strong, durable & flexible, nor with PVC which is highly resistant to oxidative reactions. It is believed that with age polybutylene pipe begins to degrade as it reacts with water-soluble oxidants causing the pipe & fittings to scale, flake and become brittle. It is reported that on the average polybutylene pipes take 10-15 years to show signs of severe deterioration. When purchasing a home we always recommend to our buyers that they have it inspected by a licensed professional Home Inspector and if the presence of polybutylene is suspected have a certified plumber check it out.

What Is a BINSR?

A BINSR (Residential Buyer’s Inspection Notice and Seller’s Response) is a three page form drafted by the Arizona Association of REALTORS® to assist Buyers in their due diligence inspections and investigations. This form, along with the “Buyer Advisory” available from the Arizona Department of Real Estate identifies common issues that a buyer should consider in their due diligence process, has been designed to protect you as the Buyer. Do take the time to read and understand them. See Video

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