 |
The Process of Buying Arizona Real Estate
Author: Nick McConnell  | Posted: 13-04-2007 | Comments: 0 | Views: 11 | Rating: (50)  (?) 
The first step when purchasing a home in Arizona is to get pre-qualified for a loan. This is an extremely simple process that only take one phone call to your lender If you do not have a lender, Arizona Coldwell Banker Residential Brokerage can recommend a good lender. During your pre-qualification process, you find out how much your payments will be if you borrow “X” dollars. For example, If you want to buy a three hundred thousand dollar house, put down twenty thousand, and finance two hundred and eighty thousand, you will want to know what your payments will be if you finance this amount. This process determines what your price range will be when searching for a home.
The second step is to find a home you like. Once you find a home in your desired location, your Realtor will help you submit an offer to the seller. The seller can accept, reject, or counter offer. Depending on the sellers response will determine the next step. There is never a formal agreement between the parties until both parties have agreed on the terms and conditions of the contract. Once there is a formal agreement, escrow is opened.
The third step is to conduct inspections which your Realtor will help you with. You hired professional inspectors to make sure the home is in good standings. In every case, there is always something wrong with every house. Even if the home in brand spanking new built in 2007, there will be something wrong. Very rarely will you ever come across a perfect inspection with nothing wrong. Once you find out what is wrong with the house you ask the seller to fix X, Y, and Z. The buyer and the seller most come to terms again. It is a contract within a contract. Once the seller and buyer have agreed on what is to be fixed, the seller makes the repairs and the buyer conducts a final walk through at the end of escrow to make sure all repairs were made.
Step four is to work with your lender to make sure he has everything he or she needs to get your loan done such as pay stubs, W2’s, and bank statements just to name a few items.
Step Five is to conduct a final walk through to make sure the home is in the condition it was in when the contract was first written.
The sixth step is to go to the title company to sign your final documents. Once the funds have been delivered from your lender, all monies are in order, and deed has been recorded in the buyers name, you can receive your keys and start moving in!
All Arizona Real Estate deals are like a fingerprint, no two are alike.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/real-estate-articles/the-process-of-buying-arizona-real-estate-131145.html
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Tenant Improvements, New Construction
By: Randy | 16-09-2008
Can you give me a cost per squar foot range for comercial, medical, tenant improvements? in the Phoenix AZ. area. Build is a new construction, 4000 sq ft. unit with no floors slabs yet. Will need 2 bathrooms, 3 changing rooms, a sink in the break room.
Ut_usb20 8gb flash drive don't work on my LG home ...
By: andyjmd | 16-09-2008
ut_usb20 8gb flash drive don't work on my LG home theater, wat to do?
What happens to property & casualty policy holders if AIG files bankruptcy?
By: Noreen | 16-09-2008
What happens if a property & casualty insurance company files bankruptcy?
Property transfer/lien question
By: Megan | 15-09-2008
My husband and I are about to take out a mortgage to rebuild our house, which was left to me by my grandfather. After inheriting the house, I put it in both my parents' names as well as mine for my own security. The house was put in my name and my husband's name a year ago; however, my parents are thinking of filing bankruptcy from credit card debt. Can the creditors put a lien on my property even though the property was always mine to begin with, and now belongs to me and my husband? Doesn't seem right as we have nothing to do with my parents' credit card debt, but just want to know if it's possible and what I should do if it happens. Thanks in advance.
Judgment
By: Laura | 14-09-2008
Once there's a judgment for a certain amount of money can it keep going up ?
My dog has got a tick in is spine the vet sprayed ...it and it has gone
By: von | 14-09-2008
my dog has got a tick in is spine the vet sprayed frontline on it over a week ago and it is still there
Q&A Powered by: 
Latest Real Estate Articles
Buying A Ranch Property
By: Martin Webbster | 15/10/2008
Buying a ranch is something you may want to consider if you plan to retire in the west or just want to move away from city life to enjoy rustic rural life. Whatever the reason, a ranch is one of the best ways to enjoy the west.
As a ranch owner,...
Investing In A Ranch
By: Martin Webbster | 15/10/2008
You have heard severally about the term ranches and would like to know what they actually are. Well, ranches are a piece of rural land that that promises lots of benefits and incentives for the owner. You can build a ranch for yourself or buy one. Either way you will...
A Checklist For Acquiring A Waterfront Property
By: Martin Webbster | 15/10/2008
The real estate industry has been a profitable industry and much so these days. The market is experiencing a boom today and many investors have therefore been on the search for a lucrative sector of the industry to invest in. Many homeowners especially the smart ones are now diversifying their...
Important Things You Should Know Before Buying Rural Real Estate
By: Martin Webbster | 15/10/2008
Rural real estate holds a lot of attractions for the investor. Interest in this type of property has risen of late and many buyers have now become eager to get apiece of once disregarded area.
This surge in interest has introduced a lot of dynamics into the countryside property market. Many...
Why is Cyprus Such a Great Investment Opportunity?
By: Hannah Walker | 15/10/2008
The wheels of reconciliation have been set in motion as determined peace talks begun at the beginning of September '08 to once more attempt a reunification between the north and south of Cyprus. Since the Turkish invasion in 1974, Cyprus has remained divided and dominated by hostility. Now, despite the...
Cyprus: A Backdrop to Your Investment
By: Hannah Walker | 15/10/2008
With the recent peace talks underway and reunification on the horizon, even more people will be encouraged to invest in Cyprus, the largest island in the Mediterranean, situated south of Turkey and East of Greece. The Cyprian economy is set to soar after peace is made between the northern Turkish...
Lease Commercial Property London
By: Matt Grimes | 15/10/2008
Leasing commercial property in London is a whole different ball game from leasing commercial property in other areas of the United Kingdom.
Why Buying Smaller is Better
By: Keith Cook | 15/10/2008
However, the fact remains that many of these foreclosures come from people taking out huge adjustable mortgages on huge homes with an inadequate income to deal with the interest. Once the interest rates changed, those people could not hope to afford the payments. It could all have been avoided with the purchase of a more modest home and a fixed-rate mortgage.
More from Nick McConnell
Camelback Mountain, Arizona Real Estate
By: Nick McConnell | 12/12/2007 | Real Estate
A Realtor discusses Real Estate on Camelback Mountain in Paradise Valley, Arizona.
Phoenix, Arizona Coldwell Banker Residential Brokerage Real Estate Topics
By: Nick McConnell | 12/12/2007 | Real Estate
A Realtor with Coldwell Banker in Arizona discusses Real Estate topics that homeowners, buyers, landlords, and tenants should pay close attention to.
Arizona Pre-foreclosures, Foreclosures, and Short Sales
By: Nick McConnell | 12/12/2007 | Real Estate
A Realtor that has lived in Phoenix for twenty eight years discusses Arizona Real Estate issues. This article also discusses Real Estate tips that could save you a great deal of money and also discusses pre-foreclosures.
Scottsdale, Arizona Ancala Golf Course Real Estate
By: Nick McConnell | 05/12/2007 | Real Estate
A Real Estate expert that has lived in Scottsdale, Arizona for twenty eight years discusses Ancala Real Estate and the extraordinary amenities. This article also offers tips and Real Estate advice that can save you a great deal of money.
Scottsdale, Arizona Silverleaf Golf Course Real Estate
By: Nick McConnell | 05/12/2007 | Real Estate
A Real Estate expert that has lived in Scottsdale, Arizona for twenty eight years discusses Silverleaf Real Estate and the extraordinary amenities. This article also offers tips and Real Estate guidance that can save you a great deal of money.
North Scottsdale, Arizona Grayhawk - Dc Ranch Real Estate
By: Nick McConnell | 05/12/2007 | Real Estate
A Realtor discusses the importance of using an experienced agent when buying, selling, or leasing a home in North Scottsdale, Arizona and the surrounding North Scottsdale communities.
Fountain Hills, Arizona Real Estate Home Buying and Selling Tips
By: Nick McConnell | 05/12/2007 | Real Estate
A Realtor discusses home buying and selling tips in Fountain Hills, Arizona.
Arizona Real Estate Retirement Communities and Fifty Five Plus Communities
By: Nick McConnell | 05/12/2007 | Real Estate
Thinking about retiring in Arizona? You will certainly want to read this article. Tips, money saving ideas, and a general guide to obtaining your dream retirement home.
|
|
Finance 
About the Author:
