Hello,

I AM JACKIE DURBIN

YOUR ARIZONA REAL ESTATE EXPERT

STEP 6

STEP 1

GET PRE_APPROVED

STEP 2

STEP 7

MEET WITH YOUR AGENT

STEP 3

STEP 8

FIND YOUR HOUSE

STEP 4

STEP 9

DOCUMENTS TO LENDER

MAKE AN OFFER

STEP 5

STEP 10

• Meet with a Lender
• Prepare your Credit
• Set a Budget
  

STEP 1

GET PRE_APPROVED

STEP 2

• Discuss Budget
• Research area neighborhoods
• Set wants and needs
  

MEET WITH YOUR AGENT

STEP 3

• Tour Homes
• Adjust criteria if necessary

FIND YOUR HOUSE

STEP 4

• Work with your Realtor® to set up the best offer
• Negotiations may occue
  

MAKE AN OFFER

STEP 5

• All negotiations are finished
• Both parties have signed contract
  

• Professional inspects the property
• Discovers issues that may need to be worked into the purchase agreement
• Negotiate repairs if needed
  

STEP 6

• Professional ensures the property is worth the loan and purchase price you agreed to pay
  

STEP 7

• The title company will send you a title insurance policy for the property after closing
  

STEP 8

• Make sure all requested documents are sent to your lender prior to closing
  

STEP 9

DOCUMENTS TO LENDER

• Final Walk-Through
• Signed closing documents
• Receive your keys
  

STEP 10

1

2

3

4

5

6

7

8

9

FIND THE RIGHT AGENT

PREPARE FINANCES

GET PRE-APPROVED

START HOME SHOPPING

MAKE AN OFFER

ORDER AN INSPECTION

NEGOTIATE FINAL OFFER

APPRAISAL ORDERED

CLOSING DAY

agent

Buying a home is one of the most significant purchases in a lifetime. It is essential to have an experienced agent in your corner, always looking out for your best interest. A buyer agent’s fiduciary responsibility is to represent the buyer and to ensure that they are protected.

After all, a seller has someone in their corner. A listing agent has an allegiance to the seller. Their goal is to get the seller top dollar for their home. There is incredible value in having someone working for YOUR best interests when buying a home.

prepare

HOW MUCH HOUSE CAN YOU AFFORD?

Mortgage lenders recommend you do not buy a home that is more than 3 to 5 times your annual household income. If you are not purchasing a home with cash, you will need a mortgage pre-approval provided by your mortgage lender. A lender will work with you to get a loan that meets your needs. Some buyers are concerned with keeping their monthly payments as low as possible, others want to make sure that their monthly payments never increase.

CHECK YOUR CREDIT

Certain loan programs require a good credit score. You can improve your score by: Paying down credit card balances, Continuing to make payments on time, Avoid appluing for a new credit card or car loan until you have been approved, Avoid making big purchases unitil you have been approved. If possible, avoid job changes until you have been approved.

SAVE CASH FOR A DOWN PAYMENT & OTHER EXPENSES

In order to make your dream of buying a home a reality, you will need to save cash for your down payment, earnest money, closing costs & home inspector. A down payment is typically between 3.5%-20% of the purchase price. Earnest money is money you put down to show you’re serious about purchasing a home. It’s also known as a good faith deposit. Closing costs for the buyer run between 2% & 5% of the loan amount but less if an all-cash transaction. A home inspection costs between $300-$500

get

Being pre-approved, unlike being pre-qualified, means you’ve actually been approved by a lender for a specific lean amount. You will need to provide documented financial information (income, statements, assets, debt & credit reports etc.) to be reviewed & verified by the lender.

qualified

VA LOAN

620

NO DOWNPAYMENT

USDA LOAN

620

NO DOWNPAYMENT

FHA LOAN

580+

500-579

3.5%

10%

203K LOAN

640

3.5%

CONVENTIONAL 97

620

3%

CONVENTIONAL LOAN

640

5-20%

start

START TOURING HOMES IN YOUR PRICE RANGE

Time to start shopping! We will go over all o the details and important needs on your wishlist for your dream home, as well, as going over any potential deal breakers. Your needs will be at the forefront of deciding which homes to view. One we view some and have found the right house for you. , we will present an appropriate offer based on recent sales and current buyer activity in the area, as well as the value of the property in its current conditions. Negotiations may take place after the offer is presented.

tips

make

WHEN TO MAKE AN OFFER:

So you have found THE house! Congrats! In today’s market when the demand is higher than the amount of homes available it is important to act fast!

HOW MUCH TO OFFIER:

We will sit down and look at recent sales and current buyer activity in the area, as well as the value of the property in its present condition. Putting all this information together, we will determine the price that you would like to offer.

after

SUBMITTING AN OFFER

There are some components to an offer that makes it more appealing to the sellers.

• Put Your Best Foot Forward
  

We will work together to discuss your options and create your very best offer that will increase the likelihood of getting your offer accepted.

• Put Down an Earnest Money Deposit
  

An earnest money deposit shows the seller you are serious. These are typically 1-3% of the home price.

• Closing Period
  

It’s important to consider a closing period that will fit both parties needs.

• Inspection Period
  

This is the timeframe you have to conduct various inspections. Industry standard is about 10 days.

order

During the inspection period, we will schedule inspection with a reputable home inspector to do a thorough investigation of the home. Once this is complete, the inspector will provide us with a list of their findings. In some cases they may refer a specialized inspector to take a deeper look at an issue.

You can take the issues as-is or request the seller to address some or all of the findings. We will be mindful and reasonable on smaller items while being very cautious and vigilant of potentially signifacent issues.

ordered

Your lender will arrange for a third party appraiser to provide an independent estimate of the value of the house you are buying. The apprasial lets all parties involved know that the price is fair.

If the home appraises for more than the purchase price of the home, then you walk away with free equity.

In the scenario when your home comes in at less than the appraised value, the lender will only provide a loan for the appraised value. So you and the seller can negotiate a seller credit to make up the difference or you must come up with the difference on your own.

If the home comes in at value, then the loan file then moves on to the mortgage underwriter.

Once approved, you will receive your final commitment letter that includes the final loan terms & percentage rates.

closing

CLOSING DAY

Closing is when you sign ownership and insurance paperwork and you receive your new home’s keys! Typically. closing takes four to six weeks. During this time, purchase funds are help in escrow, where your money is held safe until the transaction is complete.

CLOSING DISCLOSURE

Lenders are required to provide you with a closing disclosure, at least three days before closing. This will show you what your final loan terms and closing costs will be. You will have three days to review the statement. This is done to ensure that there are no surprises at the closing table. If there is a significant discrepancy between the loan estimate and the closing disclosure, we must notify your lender and title company immediately.

FINAL WALKTHROUGH

We will do a final walk through the home within 24 hours of closing to check the property’s condition. This final inspection takes about an hour. We will make sure any repair work that the seller agreed to make has been done.

RECEIVE YOUR KEYS

Congratulations! It was a lot of hard work but you are now officially a homeowner! This to throw a party and get to know your new neighbors.