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Buyer Agency In Arizona – What Does That Mean?
Buyer agency in Arizona is designed to protect you, the home buyer. Your buyer’s agent is your advocate with a fiduciary duty to you, much like that of an attorney.
Buying a home without a buyer’s agent can be a huge mistake for many reasons, one of the biggest is they will likely save you thousands of dollars when you purchase your home.
Your buyer agent’s only job is to protect you, the home buyer.
Your buyer’s agent only works for you, the home buyer and typically does not know or have a relationship with the seller of a home.
It’s very important to understand agency relationships when you are considering buying a home, as having trust in your buyer’s agent is critical to your home buying success.
Your goals are your buyer agent’s goals. Period.
Your buyer’s agent has explicit duties to YOU, the home buyer, of confidentiality, accounting, care, loyalty, obedience, advocacy and disclosure. This means that your buyer’s agent will only have your interests at heart!
Experience and dedication matters.
The home buying journey can typically take anywhere from 6-18 months or more, so having an experienced, dedicated and knowledgeable buyer’s agent by your side can make a world of difference as you prepare for your home purchase and start researching the Arizona real estate market.
An excellent buyer’s agent will help you navigate through all of the pitfalls laying in wait for you as the unsuspecting home buyer. He/she will educate you on the Arizona real estate market, home financing and the home buying process. Your buyer’s agent will help you to set realistic goals and expectations up front while striving to exceed those goals and expectations.
For more info, check out the above video about buyer agency in Arizona. Better yet, feel free to contact us if you have any questions about buyer agency in Arizona or the home buying process.
We are looking forward to working with you to find your next home!
Don’t have a home search set up yet? Click here to get your home search set up by a real estate professional. No cost or obligation to you.
How to Navigate Your Arizona MLS Home Search Portal
Now that you’ve learned how to navigate your MLS home search, it’s time to take a look at your Arizona MLS home search portal.
Don’t have a home search set up yet? Click here to get your home search set up by a real estate professional. No cost or obligation to you.
View the video below to learn how to navigate your Arizona MLS home search portal.
From inside your Arizona MLS home search portal, you can:
- Organize and keep track of the homes that within your search
- Save the homes you like
- Get rid of the homes you don’t like
- Take notes on the home
- Look up the tax records
- Look at photos
- View the home on the map tool
- Calculate your monthly mortgage payments
- and more!
Of course, if you’d like to explore the Arizona MLS and search just like an agent, you can do that here.
Learn how to search the Arizona MLS here:
Learn How To Search The Arizona MLSHow to Navigate Your Arizona MLS Home Search
Now that we’ve set up your MLS home search, let’s learn how to quickly identify some of specific details of the home.
Take a look at the quick video below to start using your MLS home search right now!
It’s easy to get to know the Arizona MLS and start researching the market, once you’ve received your direct link to the MLS from us.
If you don’t have an MLS home search set up – tailored to your specific wants and needs – you can get yours here.
Once you’ve gotten to know your Arizona MLS home search and feel comfortable making your way around, be sure to visit our Arizona MLS Portal page to learn how to use your home listings portal.
Would you like to search the Arizona MLS without contacting an agent just yet? You can do that right here!
If you’d like to learn how to search the Arizona MLS on your own, you can get access to our MLS search resources here:
Learn How To Search The Arizona MLS2019 FHA Loan Limits Are Up In Arizona
2019 FHA Loan Limits Are Up
In Arizona
FHA Loan Limits For 2019 Are Up In Arizona
FHA loan limits for 2019 are up in Arizona. In December of 2018, FHA announced an increase in the loan limits for all counties in Arizona.
FHA loan limits in Arizona have climbed in most counties to $314,827, up from $294,515 in 2018. Coconino county FHA loan limits for 2019 have gone up to $362,250. Click here to see Coconino county geographic borders.
What does this mean for you? If you’re a home buyer, looking to buy a home with an FHA loan, it means you now have more homes to choose from since the end of 2018.
FHA loans are a great way for today’s home buyer to get in a home with very little money down. Not only that – FHA loans are great for would be home buyers that are working on getting their credit scores up. Generally speaking, you can get into an FHA loan with a credit score as low as 640. Some lenders will go as low as a 580 credit score!
If you’re considering buying a home in the future, get answers to some common home buying questions here.
Take a look below to see every single family home that is priced at or under the new loan limits for 2019.
Search The Arizona MLS On Your Mobile
Search The Arizona MLS On Your Mobile
Watch the video below to learn how to search the Arizona MLS with your mobile phone or tablet.
At www.SearchMyAZHome.com you will find the latest and most up to date information on homes for sale in Chandler, Gilbert, Mesa, Queen Creek, San Tan Valley, Tempe and all other cities in the Phoenix Metro area.
If you’re just starting your home search, you can find great home buying information here.
Get Help From The Experts
Would you like an expert to set up your home search for you? Click here and let us know what you’re looking for in a home. We’ll get your search set up and sent to you right away!
Start Your Home Search Now
Are you a first time home buyer? Have you bought and sold many times in the past?
If so, you probably know that many of the major real estate search engine websites that let you search the MLS hold on to old sales data. – That means that you could spend countless hours looking at homes “for sale” that have already been sold!
Your solution? Get your information straight from the MLS. That’s what we offer you here: www.SearchMyAZHome.com.
With our home search app, you receive a live link to search the MLS at your hearts content, 24/7.
What Can You Do With Our MLS Search App?
- Find the latest homes for sale
- Get instant updates when new homes come on the market
- Find homes for sale based on your location
- Save your home searches to come back to later
- Receive all property photos
- Save your favorite home listings
- Hide the homes you don’t want to see
- Rate your favorite home listings
- Request more information on each individual home
- And more!
Start your search here: www.SearchMyAZHome.com
Join our newsletter and get the latest real estate market statistics every month!
Infographic – How To Save And View Your Favorite Homes
What Are Closing Costs And How Much Are They?
What are closing costs?
Are you in the market to purchase a home or just starting to consider purchasing a home?
Are you wondering how much of your own money you will need or what are the costs involved when purchasing a home?
Earlier, you learned what your typical up front out of pocket costs could be once you get under contract to purchase a home. You might want to go back and review those costs, so that you’ll know what you’ll need out of pocket, right away.
Now you can dive more deeply into the actual costs of obtaining financing and purchasing a home.
There are a couple different areas that “costs” are typically grouped into:
- Your down payment.
- Your closing costs.
Learn more about down payments here.
Closing costs explained, the short and sweet version.
Closing costs are costs associated with your home purchase and they are typically related to a few different items.
As a general rule of thumb, your closing costs should be in the area of 3% of your anticipated purchase price.
For example: With a purchase price of $200,000, it’s $200,000 x 3% = $6,000.
This is a very rough estimation and it really depends on the type of loan you will be getting.
Your actual closing costs could be more or could be less depending on your type of loan and other variables.
There are several different types of loans, including FHA, VA, USDA and Conventional.
Closing costs must be paid when you purchase the home.
For a more detailed explanation, see below.
Closing costs in detail:
Here are the most common closing costs associated with your home purchase:
- Title company fees
- Lender fees and Prepaids
- HOA fees
Title company fees
Title company fees differ from company to company, although there are three fees that almost every title company charges a buyer.
- The lender’s title insurance policy – this is the insurance policy that you, the home buyer will purchase for your lender to protect against any unforeseen claims to ownership of the home, after your purchase.
- The escrow or settlement fee – this is the fee for title work, including researching the chain of title on the home, to make sure that the seller actually owns the home and has the right to sell it.
- Recording fees – to record your deed at the County Recorder’s Office.
The amount of these fees vary, depending on the purchase price of the home. Here is an example of typical title fees.
These are typical title company fees associated with purchasing a home.
Lender fees and prepaid fees
Simply put, you must pay your lender to loan you money.
Lenders make their money by collecting interest from you and collecting fees to give you a loan, many times this is put into a fee called the “Origination Fee.”
Once again, the fees your lender will charge varies depending on the loan program that you use.
Prepaids are charges collected up front to cover different items, such as
- The interest you pay for the remaining days of the first month you are in your home.
- Mortgage insurance reserves.
- Homeowner’s insurance reserves.
- Property tax reserves.
These are typical lender’s fees and prepaid items that are charged in connection with your new loan.
HOA fees
If your home is located in an HOA, also known as a Homeowner’s Association, then there are usually fees associated with the transfer of the property to the new owner. Whether the buyer or seller pays these fees is negotiable.
Usually with an HOA, there will be monthly or quarterly fees as well.
As with everything else, HOA fees can vary, depending on the association and the amenities of the neighborhood. Typically, the more amenities in the neighborhood, the higher the monthly or quarterly fees you must pay.
Hopefully this has shed a little more light on the subject of closing costs. If all else fails, just remember the rule of thumb.
Your closing costs will be roughly 3% of your anticipated purchase price.
How To Find The Best Places To Live In Phoenix
Are you looking for the best places to live in Phoenix?
Has this already happened to you?
You are looking for the best places to live in Phoenix and you receive an email with a newly listed home on the market or you search our site and find a home for sale and it looks perfect!
You’re super excited! The interior photos are beautiful and it has everything that you have been looking for in a home! This could really be the one!
You jump into your car so you can take a look at the exterior of the home and to get a feel for where it is located.
You leave the comfort of your home, expend the gas and time to reach the home, only to realize that the neighborhood isn’t at all what you had hoped for.
You drive all the way back home in utter disappointment.
It can be hard to find the best places to live in Phoenix.
Don’t wast your time.
We live in a (ever increasingly) fast paced world and your time is precious.
Here at Desert Premier Realty Group, it’s our goal to share as much of our experience and knowledge as possible with you, so that you can be smarter and more efficient than the average home buyer.
1 quick way to find the best places to live in Phoenix.
Here is a tool that many of our clients use to help them get a feel for different neighborhoods in the Valley and help them find the best places to live in Phoenix:
Google Maps – Street View.
Let’s say that you’ve found a home for sale that you think has potential, but you’re not sure of the geographic area and you definitely don’t know the neighborhood.
Your could jump in your car and drive across town, spending an hour or two in traffic… Wait a minute… Haven’t we been there before?
You are the smarter home buyer.
Just plug the address into Google Maps and select Street View.
Drop the little yellow guy (peg man) right where you want him.
You can have a virtual tour of an entire neighborhood and surrounding area, without having to step one foot outside of your own home.
You can get an instant quick view of the home for sale and get a feeling for whether or not it fits within what you desire.
Now you know how to find the best places to live in Phoenix.
Once you’ve determined how you feel about the neighborhood, you can decide whether or not it’s worth your time to make the trip.
The best places to live in Phoenix are where you decide they are!
Simple, isn’t it?
See below for a quick demonstration of Google Street View.
Opening image above courtesy of Flickr and Jason Paris.
Out Of Pocket Costs – 1000 Ways To Save When Buying A Home
What out of pocket costs have you planned for your home purchase?
Are you aware of the up front monetary commitment that it takes to purchase a home?
As soon as you get under contract to purchase a home, a specific timeline that is outlined within the purchase contract begins. There are certain actions that you agree to take within that timeline.
For many, those specified actions include:
- Depositing the earnest money.
- Performing the home inspection.
- Performing the termite inspection.
- Performing any other inspections that are important to the home buyer.
There are out of pocket costs that are associated with the above actions. Let’s take a look at each one.
1. Depositing the earnest money.
Earnest money is part of a home buyer’s out of pocket costs and is the money that a buyer puts down on a home. The earnest money signifies the home buyer’s serious and good faith intention of purchasing the home.
When you are under contract to purchase a home in Arizona, the earnest money is due immediately.
Typically earnest money is to be deposited with the title company that is agreed upon. The amount of earnest money that the home buyer is to deposit is negotiable and typically hovers around 1% of the contract price.
For example, if the contract price is $100,000 and the earnest money that is agreed upon is 1% of the contract price, then the earnest money is $1,000. $100,000 x 1% is $1,000.
As you make your plans for your home buying journey, earnest money should be a prime consideration and knowing the potential purchase price of your home ahead of time will be instrumental.
Did you know that depending on your financing, you can receive a gift from a family member to cover your earnest money?
2. Performing the home inspection.
Here in Arizona, the inspection period for the home purchase typically begins upon execution of the contract. Usually, the inspection period is 10 days, unless otherwise negotiated.
The physical home inspection is almost always the most critical part of inspections. The home inspection will give you a basic understanding of the condition and functionality of the home. If there are any physical or functional deficiencies or problems with the home, this is when you will find out.
Soon after you are under contract to purchase, the home inspection is ordered. The cost of a home inspection will vary, depending on the size of the home and what amenities there are, such as a pool, spa, yard watering systems, etc…
For the average home, the out of pocket costs for home inspections can run from $300-$500.
3. Perform the termite inspection.
The termite inspection will typically be completed alongside the home inspection. The termite inspection is actually a wood destroying organism inspection. The inspector will look for any conditions conducive to wood infestation and deterioration. And report those findings to the home buyer, the title company and sometimes the state.
Termite inspections usually cost the buyer about $65.
4. Performing any other inspections that are important to the home buyer.
There are many other inspections that may be necessary, based on the home and termite inspections.
If the home inspector finds any issues with any of the major systems of the home, such as the plumbing or electrical, they may recommend that you get further evaluations of those systems.
The costs of these inspections can vary and range from an $80 service call on upwards to $250 for a roofing certification.
And Finally…
Although this item isn’t listed above as an inspection, it is one of a home buyer’s out of pocket costs that you must keep in mind.
5. Performing the appraisal.
When you are under contract to purchase a home and you are financing the purchase, your lender will require an appraisal.
An appraisal will assure your lender that they are making a good investment and the value of the home matches the contract price.
The out of pocket costs for home appraisals typically run between $400-$500 and up, depending on the size of the home.
We can help you.
As you can see, there are several up front, out of pocket costs that home buyers should keep in mind as they begin their home buying journey.
We have extended an excellent opportunity to our online community that can help to put your mind at ease as you evaluate your buying costs.
We have negotiated a fantastic promotion for our online community that encompasses the out of pocket costs for both the home inspection and appraisal.
The Buyer Advantage Program
When you purchase a home with us and use our preferred lender, we will reduce your out of pocket costs by up to $1,000, by paying for your home inspection and appraisal.
We are very pleased to have been able to negotiate this with our preferred lender and are even more excited to make the offer to you.
You may not be ready to purchase a home at this time and we understand that. For that reason, we have a certificate for you to download and keep safe until it’s time. Just present the certificate at our first meeting and you will save $1,000 in out of pocket costs on the purchase of your home!
Click here to download your certificate and claim your $1,000 savings!
