I Would Like to Buy A Home-Now What Do I Do?

If you are ready to purchase a home, there are a few things that must be considered before you start your search. 

• Prequalify!  This is a very important step in beginning your search for a home.  This will help you determine how much home you can afford and what payment you would be comfortable with.  Sometimes a person can qualify for a higher payment than he/she will be comfortable paying.  Taking this first all-important step puts you on the fast track to purchasing your new home with confidence.
• Hire A Realtor!  This is a very important step that many people overlook.  There are many pitfalls in purchasing a home and your realtor is there to protect your interests and to make sure that you avoid these pitfalls.  Don’t forget!  Once you sign those final papers, the home is yours….for better or for worse.  Let your Real Estate Professional make that for the better!!
• Get A Home Inspection!  Homes get old just like people do!  And when that happens, things go wrong.  It happens to the best of us.  Arizona, as in most states, allows buyers an “Inspection Period”  once a contract is accepted.  The amount of time for an inspection can vary but must be decided in the contract.  The usual “default” for Arizona is 10 days.  During this period of time, any and all inspections can be performed.  The cost of these inspections falls on the buyer(s) but is much less expensive than purchasing a home that seems to be “hiding” costly repairs.   And this is in no way a reflection on sellers.  They are required to disclose all they know about the property by filling out forms called “Seller Property Disclosure Statement,” but there are many things that even sellers may be unaware of about their property.   Once your inspections are complete, you can ask the seller to repair the items that can be problematic.  But remember…..this is for REPAIRS.  This is NOT for cosmetic items.    A checkerboard painted bedroom is NOT a repair.  Getting an inspection can give you peace of mind knowing your property is in good repair. 
• Final Walk-Thru!  DON’T SKIP THIS STEP!   And don’t do the final walk-thru AFTER you have signed the papers.  This is a step that must be completed PRIOR to signing your papers.   This gives the buyer(s) the opportunity to make sure that the property is in the condition that it should be in.  All utilities should be on to complete this step.  Buyer(s) should spend time turning on faucets, flushing toilets, turning on lightswitches, etc. to see that everything is still working properly.  Don’t forget!  Once you sign those papers, that property is yours…again, for better or worse.  Finding that the property flooded AFTER you have signed your documents makes it your problem.  Make sure your Realtor completes this all-important final walk-thru.
• Move In!  Time to buy new furniture! 

Lorry McDermott is a full service realtor with “OZ Realty” here in the Phoenix Metropolitan area.  She works with both buyers and sellers getting them the most value for their money.  If you are ready to take that next step into homeownership, give her a call. 

OFFICE:  602-539-1322
CELL:  480-580-9279