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There are several steps to take when purchasing a home in Arizona. This check list, coming from an Executive Sales Associate with Coldwell Banker Residential Brokerage in Arizona, will help any person thinking about buying a home in the valley of the sun.
Your first step when purchasing a home in Arizona is to make sure to find a Real Estate Professional that is aggressive, knowledgeable, and educated. There is no requirements necessary when talking about education to become a Realtor. Anyone can become a Realtor as long as very basic guidelines are met. Would you rather have a high school drop out represent you, or a Realtor with a college degree? Ask your Realtor how much experience they have, ask to see diplomas, or even go as far as asking for letters of recommendation so that you can have physical proof that you are putting the biggest investment of your life into the right hands.
After you have chosen and trust your Realtor, your next step is to get pre-qualified for a loan. This is a very simple process. A lender of your choice nohu or a lender that your Realtor recommends will ask you a series of questions which only takes about 10 minutes to make sure you are qualified to purchase a home. Lenders want to know your job history, your credit score, your income, and how much debt you have. As long as you have a good work history, a descent income, and your debt to income ratio’s are in good standing, you should have no problem qualifying for a home loan. If you already know a lender that you want to use Realtors are not encouraged to try and steer you away from the lender you know and trust.
It would be a good idea to make sure you are getting the best deal possible. To get the very best deal possible you must talk to more than one loan officer. Loan officers make more money if they give you a higher interest rate because the bank that is funding the loan will pay the loan officer more money. The higher the interest rate, the more money that bank makes, and the more money the loan officer makes. Many loan officers are willing to make less money by giving you a better interest rate. Some lenders will even make no money on the back end of the loan and only charge a one time up front fee which is usually one percent of the loan. Try to get a lender that will not charge you on the back end of the loan because it will cost you thousands of dollars more over a period of time.
Once you have chosen a Realtor that you trust, and have a lender you can trust, you next step is to find your home. Many different factors play into what type of home a person will choose. For many families, school districts are important. For others, location or type of home. Real Estate agents are not allowed to tell you what areas they think you should live in. You have to tell them what area you want to live in, or what school district, or what city, and they will help you find a home from this point forward. Tell your Realtor what is important to you such as a fireplace, a pool, an all tile roof, what year the home was built, how many bedrooms, bathrooms, or anything else that may be of importance to you.
After you have told your Realtor what you want, your Realtor will show you what is available in the areas you requested. At that point everyone hops in the car and goes to look at the homes you want to see. It is usually best to look at home on Saturday and Sunday because the traffic is light, and it makes it less hectic for the home owner.