Financing in 85203>Question Details

Louizie, Home Buyer in 85203

What to expect as first time home buyer ?

Asked by Louizie, 85203 Fri Apr 20, 2012

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Bill Eckler’s answer
Expect to find that there are caring and helpful agents that are ready to make your dreal a reality. As a first time buyer, take care not to rush into anything. Do your homework. Collect information. Ask your agent questions and prepare yourself to be ready to make a sound decision.

Good agents will be able to appreciate your needs and provide you with the support you require.

Best wishes,

1 vote Thank Flag Link Sun Jul 15, 2012
Hi Louizie,

That is a loaded question!! First expect an emotional roller coaster! You will possibly put in offers and not get the bids! But please be patient and find a Realtor that will walk you through EVERY process, ANSWER every call, Hold your hand and find you the right home. The first step is find the right Realtor for YOU. They will hold your hand in the process and help you find a lender, a home, and help with every step in the process. Please visit my website or blog for LOTS of great information! Good luck! And congratulations!
1 vote Thank Flag Link Fri Jul 13, 2012
You can expect an opinion from everybody. Ask friends, family and neighbors if they know of a good Realtor or someone they trust. A good Realtor will walk you through every step patiently and answer every question along the way from start to finish. Good luck!
0 votes Thank Flag Link Tue Feb 25, 2014
The process is daunting to a first time home buyer so be sure you have done your homework on who you hire as an agent to assist you. There is more to a real estate transaction than just showing you homes. The process once a home is picked and the contract between buyer and seller is negotiated. You definitely want an agent that has read and understands the legal aspects of the entire transaction. My past Buyer clients have found my skills as a paralegal to be a huge benefit.

I also want to make you aware of the Buyer Broker Agreement. This is a contract between you and the Agent that spells out what an Agent expects of you the Buyer and what you can expect to receive from the Agent as your representative. This document is feared by may for NO REASON. It merely is a contract of loyalty as with or without the agreement the Seller will still pay the real estate fee if your property is found through the MLS listing service where you live.

MOST IMPORTANT DON'T GO OUT THERE UNREPRESENTED THINKING YOU WILL GET A BETTER DEAL. We are all aware of the game. Unlisted sellers tend to try for a higher price to have negotiation room, Unrepresented Buyer's assume they are getting a better deal but do not understand the timelines and details to the a transaction and worst of all they really do not know what their rights are generally losing their escrow or being forced forward to purchase a property they have found to be less than they thought it was.

Stay ahead of the curve and hire a qualified Realtor for your property purchase! IT COSTS YOU NOTHING AS A BUYER TO DO SO.
0 votes Thank Flag Link Tue Feb 25, 2014
That's exciting! You'll hear it said a lot.... Get a knowledgeable professional that can show you the ins and outs of what to expect in the current market your buying in. If you are pre-qualified, still speak to the agent about that because he may know of loans that could be done locally for possibly less money... You will want someone you feel comfortable working with that will be aggressive and outline all the details and events that need to take place from start to finish. A really good professional will take most of the stress out of the process and keep you up to date on everything that happens. In the end, you will be very happy when the keys to your new house are handed to you... Best Wishes.
0 votes Thank Flag Link Fri Nov 29, 2013
You can expect a great experience and good pricing if you have a great agent. Be sure to interview agents and see who fits your life. You have lots of options as a first time homebuyer and you should be given all the options to find out what you really are looking for. I believe all agents would like to work with you and help you find that dream home...but you have to find the right fit for you.
0 votes Thank Flag Link Thu Oct 31, 2013
Expect to be overwhelmed!!

what's your update?
0 votes Thank Flag Link Sun Jul 15, 2012
Congratulations on deciding to purchase a home! Are you still looking for a home?
0 votes Thank Flag Link Sun Jul 15, 2012
Of course, get prequalified with a good lender. Ask about their fees and the length of time it will take to close so your realtor can set the closing date. Some properties require you to get qualified again with a specified lender if it is owned by a bank. A good number of our inventory are REO's (foreclosed) properties.

If you decide on a short sale, expect a long process. Depending on the seller's lender,it takes about 45 to 60 days to get an approval from them. That wait is the reason so many fall out Some buyer's need to close quickly, if that is you, then eliminate those.

Expect to be in competition with other buyers in our current market. It is a "Seller's market. Low ball offers do not get the property. The list price (sometimes) is a suggestion. You might have to offer more than the asking price if there are multiple offers. You can play this game better if you have cash.

Be specific about your search parameters. What do you want to buy? Some buyers will change courses as they are searching. I am sure you have heard the phrase "Buyer's are Liars" They are not liars, they are just undecided about what they want.

Find an experienced, arms lenth, agent. It is always a mistake to employ a family member or a friend who just got their license. Ask how long they have been a FULL time agent. Part timers may not be able to service you when you need them.

Be prepared to lay out earnest money, inspection fee, Termite inspection and appraisal fees before you close. A good agent can help you through all of this process..

You asked what to expect, all of the above. I wish you well. If I can be of service you can contact me at 480-231-5266.
0 votes Thank Flag Link Sat Apr 21, 2012
Everyone has a dream to have his home and for which a lots of saving has to be done. There are so many brokers who can help you out to find your dream house, but what one can invest that much ignoring the other daily needs of the family. It good to invest in the field where one can get good returns to live a happy life. So think smartly about your investment and check out
0 votes Thank Flag Link Sat Apr 21, 2012
Hi Louizie,
A home is one of the few investments that you can have and enjoy. Finding the house of your dreams can be very challenging. Find a Realtor that you can trust, who is willing to assist you every step of the way and look out for your needs. You also need a loan officer to pre-approval you for a loan. You can purchase the property using FHA, VA, CONVENTIONAL finacing or CASH. Most transactions can close between 30-60 days of the accepted offer. Please let me know if I can be of futher assistance.
Grace Adewumi
Realty One Group
0 votes Thank Flag Link Fri Apr 20, 2012
Can I also consider you helping me with rent with option to buy ?
Flag Sat Apr 21, 2012
1. Find a loan officer. They can help you find out how much house you can afford.

2. Find a Realtor to help you find a home.

3. Get really, really scared right before you decide to buy.

4. Once you buy, everything works out okay...... if you buy correctly.

Make sure your Realtor will double check the offer price by reviewing other homes in the same area as the one that you make an offer in. If not, go with an appraiser or another Realtor.
0 votes Thank Flag Link Fri Apr 20, 2012
Hi Louizie,

One of the first things you need to do as a first time home buyer is get pre qualified for a home loan unless you're planning on paying cash. Once you get pre qualified we would have a better idea of where to look and how much house you can afford. I would be more than happy to help answer any questions you have, feel free to give me a call 480-336-9222
0 votes Thank Flag Link Fri Apr 20, 2012
You can expect to get a home for a lot less than you would have a few years ago. The first thing you should do is talk to a lender if will need a loan to purchase your first home and get pre-approved so you know what price range you will be looking in. Once you do that you should hire your own local real estate agent to help you look for your new home at no cost to you. You should google the term short sales because there are a lot of those types of homes for sale and you should know about the process of these homes before putting an offer on one of them. Ask your real estate agent any questions that you can think of and good luck in your search.
0 votes Thank Flag Link Fri Apr 20, 2012
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