Buying a home:
Buying a home is many things, for a first time home buyer it is a step into a
future. It can be both frustrating and exhilarating at times. It is a step
toward the financial freedom that having real assets brings, that will put you
in the world of investing, while filling your needs for a place to live your
life the way you want to live.
For a first time buyer or an investor with multiple properties it is about
the confidence that you have as you build your wealth with something that can be
touched, and create happiness for those who choose well.
You are here, and at Real Estate Management Network what you have found is a
group of real estate agents that are specialized in working the Phoenix
metropolitan market place. We will walk you through the process of buying a home
with care and professionalism. Helping you through all many steps it takes to
make this one of the best experiences you will ever have.
What are the steps?
- Financing a home requires Cash, or Credit... Most of
us will need to finance a home so it will be important to establish what is
the actual price range for what you can pay. Biting off more than you can
afford is a recipe for disaster, and heart ache. Getting a pre-approval,
knowing what your expenses will be, makes the process of searching for a
home much less stressful. In this step you we may have several hurtles that
will require time and planning to get to where to be. Credit Scores, Income,
Job stability are all factors in being ready for the next step. This is a
process that you might think you should do on your own, but we can help you
with this fundamental first step. There are many good home lenders to chose
from we think that David Lindeman
is top notch at getting you ready to finance a home. Call him at
(480) 635-3023 or just click on his web site www.lindemanmortgage.com.
- Shopping for the home is the fun part, think about what you want
in a home. When we search for investment properties we look for things that
make a property attractive to the largest group that we can fit. So it is no
secret most of the properties we manage are 3 bedroom, 2 bath homes or
slightly larger. You will want to think about bedrooms, bathrooms, garage,
land, pool... and so on. The area of town will also be a criteria that will
go into the selection process. Then anything else you find important.
This really is the fun part, and we can help with homes on the market alerts via email, to
keep you up to date with all the choices we can find. We don't do
commercial, we don't do retail, we work in the residential markets here in
the greater Phoenix area, including Scottsdale, Glendale, Tempe, Peoria,
Surprise, Mesa. We have some homes we manage in Queen Creek, Sun City, San
Tan Valley, and Maricopa as well. So we have the knowledge to get you into
an area you would like to be. We will show you the homes you want to see
once we have them selected.
- You have found a home and now we prepare to make an offer. The owner and
his agent will have set a price for the home, but is it a fair price? This
is a step that will often get passed by. There are many ways to get a
comparable market value or CMA this tells us what others in the same area
have listed and sold their homes for. This will guide us in determining the
price to offer for the house even before the negotiation begins. There are
online sites that look at market data and give you an approximation of value
Zillow & Trulia come to mind quickly. When we do a CMA we try to compare 3
similar properties that have sold, and 3 that are currently listed we will
then send you the report. When you are at this point call us 480-443-3222
for a free CMA.
- The Offer... Now we take into consideration everything we know, what the
owner wants, the CMA, earnest money, down payments and the financing that
you have arraigned. We set a price that together we agree should bring
the seller to the table with us. When we became agents, the state made sure we
understand the contracts and laws that apply. In real estate like anything
else you get good at the things you do often.
- The Contract may go through a round or two of offer and counter offers,
once it is signed you will find yourself with a whole new set of questions
and concerns. The contract creates the framework for the rest of the
process, you will normally have 10 days for your inspection period. We can't
stress enough the value of a professional home inspection there are many
good ones to choose from We recommend Rod Cauchon of
Down to Earth Inspections.
You get the opportunity review the inspection and to request repairs
or even to cancel the contract if the home does not seem as worthy now that
you know what is wrong. Another item that is important at this stage is
getting a Home Warranty
lined up. Often we see that the home owner will pay for this as part of the
sale, but even if the seller won't pay for it you can get it for yourself
and have piece of mind that a major repair can be covered with minimal cost.
There are many things we will be helping with to bring you the deed. We
encourage you to ask us any questions you have all along the process.