General information for home buyers, especially if this is your first home purchase.

1) Don't rush out! Make a wish list of the features your looking for.

Make a list of the home features that you would like to have in your new home. Making a list will help you save time plus it will help you to remain focused on the type of property your looking for. Take this list and number the features in the order of importance from 1 - 5. Keep a note on the items your willing to compromise on. Decide whether you want a new home or an existing home. How many bedrooms/bathrooms would you like? How big of a lot? Some people enjoy working outside on their landscaping, while others do not. If you love to cook you might want a big kitchen area with lots of cabinets space for storage. Should it have a two car garage? perhaps three? What about the surroundings? Have you heard the phrase location, location location before? Amenities like a grocery store, schools, shopping facilities are they conveniently located nearby? How about utilities? If you can telecommute to work with your home computer make sure that there is high speed Internet at that location. Do you have children and want to stay in a particular school district? OK you have a plan! You know what you want but how much will it cost? Can I afford it? Check out our mortgage and affordability calculators.

AZREPS - Arizona Real Professional Services *Buying a home may be the biggest investment in your life time so it pays to plan in advance.

2) Select an Arizona Realtor®

Not everyone that sells Arizona real estate is a Realtor®. A REALTOR® is a member of local, state and national professional trade association and are held to a realty code of ethics. Using an Arizona Realtor® and the Multiple Listing Service (MLS) will make it easy to find a home that matches your needs. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties matching your selected criteria. In this maze of real estate forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with real estate professionals who know the community and current market conditions.

AZREPS - Arizona Real Professional Services - Bill has lived in Arizona for 24 years and Heather is a native of Arizona. We have extensive knowledge of the Phoenix area including Scottsdale, Paradise Valley, Cave creek, Carefree, Fountain hills. We are full time real estate agents and are members of the board of Realtors®. We take pride in our honesty and integrity. We strive to help our clients through open communication, consistent follow through, and a dedication to quality.

3) Get ready.. Get set.. Get Pre-Approved.

Now because of the market conditions homes are selling quickly and a homeowner can get several offers at once so its time to give yourself the best chance to get your offer accepted! Having your loan amount pre-approved by a lender will in most cases strengthen your negotiating position. You spent your valuable time looking for a property and getting pre-approved financing can take as little as 15 minutes. You can make a better commitment with less of a risk when your authorizing a purchase agreement that requires and earnest money ( good faith ) deposit. Remember being pre- approved can give you an advantage over another buyer when it comes to negations with the seller. Purchase contracts "time is of the essence" often require buyers to apply for financing within a given time period it is important to have you financial documents in order. You don't want to miss out on your dream house because you can not find a W2. Documents generally asked for by a lender are income tax filings form the last couple of years. Proof of income from W2's. Your banking records and statements proving any additional income you are claiming to qualify for the mortgage. If you have not checked your credit report lately you can request one from these companies.

MAJOR CREDIT REPORTING COMPANIES Experian 1-800-682-7654 Trans Union 1-800-916-8800 Equifax 1-800-685-1111

AZREPS - Arizona Real Estate Professional Services - Will help you with your loan application step by step. Did you know few mortgage applicants have perfect credit? We use multiple mortgage options aggressively from different mortgage providers. We can suggest companies and loan officers that we have worked with previously and successfully.

4) Start searching for the perfect property.

Start driving through the desired neighborhoods and look for open houses. Remember that the real estate agent that holds the open house is working for the seller. You can search the real estate classified ads section in the local newspaper and call for information about the properties you may wish to visit. The grocery stores are full of free real estate publications that you can sort through. The rule of thumb is most properties will be represented by a real estate agent. You may want to take some time and view some listings online.

AZREPS - Arizona Real Professional Services- Provides access to the entire market that makes sense, including "for sale by owner" homes, both listed and unlisted. We don't push you at properties. You may have a limited amount of time you can spend looking for your new home. Don't worry we get to know our clients their likes and dislikes in properties so we won't waste your time showing properties that don't fit your specific needs. Plus we know the phoenix area valley neighborhoods can have different trends. One location may be appreciation in value with another just a few miles away may be deprecating. We can give you an honest view of the real estate market and provide you with all material facts and figures that could influence your buying decisions.

5) What's the neighborhood like?

Do your future neighbors exhibit the pride of home ownership? Or are the properties in the area neglected? Remember bad areas generally remain bad NO MATTER HOW OPTIMISTIC YOU ARE! Someday you might want to list your property for sale and you might have the best landscaping and the greenest lawn but remember some people buy on how the property looks from the street. A neighborhood that looks neglected can also bring our property value down. See the property in a different light. If your like most home buyers you will be looking for your new home during the day light hours. It is important that you also visit the selected property at night as well. Friday and Saturday nights are the best make sure there are no unexpected surprises.

AZREPS - Arizona Real Estate Professional Services - How safe is your neighborhood? We search through a wide assortment of statistical data provided by local and national government filings. Reports on demographic and socioeconomic data including crime and environmental issues to real estate market data and national school rankings.

6) You found a home and now its time to make an offer!

When you are negation on the price be well informed of what comparable homes are selling for in the area. Information is a powerful tool and having a written history of previous real estate transactions in that area can make a difference between buying at the listing price and the actual sales price. The selling real estate agent has a fiduciary duty to get the highest amount possible for his/her client.

AZREPS - Arizona Real Estate Professional Services - We will calculate the fair market value of the home for you, and assist you in developing an offering price by using comparable sales data and other property facts. We can give you an un bias presentation for you our buyer. We work on your behalf and negotiate with the seller getting the lowest price at the best terms possible for you.

7) The purchase contract

The purchase contract states the terms and conditions upon which you would like to purchase the property. Purchase agreements include earnest-money agreements addendum's, cost breakdowns, disclosure forms, offers and counter offers. What comes with the house? Blinds, curtains, dishwashers, stoves all items remaining with the house get it in writing. The purchase contract is a legally binding agreement and most contingency addendum's benefits the sellers interests should the buyer default. If you are not using a Realtor® to guide you through the purchase process, hire an attorney to preview the purchase agreement before you sign it!

AZREPS - Arizona Real Estate Professional Services - Leave the paperwork to us we use our knowledge to optimize your offer ! We will negotiate and prepare the purchase contract for you and assist you throughout the offers, counterproposals, amendments extensions, timelines and requirements that lie within the paperwork. Step by step will make sure your interests are protected making sure every "i" is dotted and every "t" is crossed. Counsel you with the paperwork and legalities of the transaction.

8) Walk through the property and check the structure and identify the red flags of a home for sale.

Make sure to check driveway, and sidewalks. Cracks in the foundation and uneven or broken concrete on driveways or walkways. Ask to see the maintenance records for Air Conditioning unit, Roofs, Electrical, Pools, Plumbing, and Landscaping costly items to repair. Hiring a home inspector and getting a home warranty package is a prudent plan. A home inspector can point out possible health hazards such as mold and mildew lead-based paint, radon, asbestos, gas leaks or other potential hazards to family and property. Insects and termites can also cause harm to family and home. Before closing, you will want to revisit the property to make sure it is in the condition you have required in your offer, and to inspect that any required repairs have been performed.

AZREPS - Arizona Real Estate Professional Services - Provide you with information about home inspections and point out our areas of concern with the property. Determine what investigations and inspections are recommended or required. If you don't have a qualified home inspector we can share our a list of qualified professional. We make the appointments and accompany you as the inspections are completed and transfer the information into the require documents as specified in the purchase contract timeline.

9) Closing and Settlement procedures.

The parties usually present are seller and the sellers agent or attorney and a closing agent At the closing the buyer will review his loan documents, closing costs, HUD statement and other related documents. Examination of the agreements to make sure that all the promises made by the sell has been met. The buyer will also have the check for the purchase plus a home owners insurance binder and proof of payment of a year's premium.

AZREPS - Arizona Real Estate Professional Services - We review all the required documents before the settlement procedure to make sure that all the necessary document are in order. We attend the settlement procedures with you review all the presented documents and answer any questions that arise. We will be there to protect your interest.

10) Getting the keys to your new home.

Congratulations!! on your new home purchase.

AZREPS - Arizona Real Estate Professional Services - We are proud to have served you step by step throughout your home purchase. Now you know why savvy home buyers use a buyers agent when purchasing a home. Buying a new home using an agent to represent you and keep your best interest in mind can make the home buying process enjoyable and stress free.