Beginning with the initial stages of this process, my goal is to help you make things go smoothly. I have found one thing that allows for the most flexibility, and the least amount of stress, is being prepared. When we’re ready to make an offer on a property, a pre-qualification letter from the lender is necessary to accompany it. Therefore, it’s important to start this process before anything else, especially before looking at properties. A second benefit is that you as the buyer will know exactly what you’re qualified to buy, what issues might need to be addressed, items might be needed to be ready when applying for the loan, etc. Quite often in this market when there may be more than one interested party in a house, you will have completed the preliminary work, and will then have a better chance to be the first offer on the table.

When we know how much you want to spend then we can pick your perfect home. After we have walked through and looked at all the top candidates, we decide on the house. Next, we start by doing research about the home we have found to see if the price is fair, the specifics about the house and the seller will meet our criteria for a smooth purchase. How do we do this? ....it starts with the offer.

Let's check the market in the area for comparable home sales. We do that to see if this home is priced fairly, and how it relates to others similar to it that have sold.

The CMA (comparable market analysis) tells us what the price range of sold properties are in the area, what the average time on the market for them has been, and what the average sales price per square foot of the recently sold properties are.

In some cases there will not be enough homes that have sold within a six month period to reference. So, I will investigate and find out how long the property has been on the market or if there have been any price reductions during the listing period, if there have been any other offers on the property, and what the motivation of the seller is.

One thing that buyers quickly find is that they themselves become mini-appraisers. After a day out, buyers know instinctively if a house is overpriced. Fortunately, since our areas are subdivisions and master planned communities, there are similarities to them. There is no point in overpricing since it won’t appraise! Therefore, there is a smaller margin of pricing over what an actual market price would bring.

When we’re comfortable with what we will be offering, we begin to fill in the blanks of the Arizona Residential Real Estate Purchase Contract.

• The first part acknowledges agency, and that I exclusively represent you as a buyer.
  Next is the earnest money, which is held by the title company until closing and becomes part of the down payment.
• The property description follows, and an extensive paragraph outlining what stays with the house.The majority of homes in the Valley are sold without the refrigerator, washer or dryer, but any other appliance that is attached stays, such as the stove, dishwasher and if built-in, the microwave. Window coverings, fountains, pool equipment, lighting, screens, etc. are also examples of what stays.
• Next are the terms of the offering price, including which method of financing.
  Then we fill in the closing date desired, and acknowledge that the closing date is actually the recordation date at which time keys are passed to the buyer.
• The title company chosen is stated, and what their role is, and lists the title insurance policy commitment, including the Conditions, Covenants and Restrictions (CC&Rs), and that they will make the prorations and what the title company provides.
• Next addresses the disclosures. You will be pleased to know that Arizona has many provisions for disclosures! An important one is from the Seller, known as SPDS, Sellers Disclosure Statement, a 3-page disclosure provided to the buyer within 5 calendar days for approval. If the home was built before 1978, a lead-based paint disclosure is necessary. If the home has a pool, a pool-safety disclosure is necessary.
• There are provisions for a Home Inspection, Home Warranty and any other inspections the buyer may elect. The Home Inspection company I recommend is a part of ASHI and certified, and very thorough!
• If the home is on well, or septic, there are certain seller obligations. However, the highest percentage of homes is city sewer and city water.
• The day before closing, there is a final walkthough to make sure all is as it was when inspected, or if any repairs that were requested have been completed.
• There are warranties that survive the closing. Any information that was withheld which materially and adversely affect the sale will survive the closing. Fortunately, this has never been the case in the 25 years I have been in real estate in Arizona!
• Remedies for Breach are addressed, whether by buyer or seller, what recourse, there is such as mediation, arbitration or if judicial action is warranted.
• There are additional terms, such as compensation of the Brokers (it is paid by the seller and the amount is agreed upon in the listing agreement)· The first part acknowledges agency, and that I exclusively represent you as a buyer, or if you have selected a home offered by Coldwell Banker, we will review my fiduciary requirements with you to make sure that your best interests are covered. Next is the earnest money, which is held by the title company until closing and becomes part of the down payment. It is important to remember your check book as we search, so that you will be able to move quickly when you find the perfect place.
• The property description follows, and an extensive paragraph outlining what stays with the house. The majority of homes in Tucson are sold without the refrigerator, washer or dryer, but any other appliance that is attached stays, such as the stove, dishwasher and if built-in, the microwave. Window coverings, fountains, pool equipment, lighting, screens, etc. are also examples of what stays.
• Next we will establish the terms of the offering price, including which method of financing. Then we fill in the closing date desired, and acknowledge that the closing date is actually the recordation date at which time keys are passed to the buyer. · The title company chosen is stated, and what their role is, and lists the title insurance policy commitment, including the Conditions, Covenants and Restrictions (CC&Rs), and that they will make prorations, as well as what the title company provides.
• Next addresses the disclosures. You will be pleased to know that Arizona has many provisions for disclosures! An important one is from the Seller, known as SPDS, Sellers Property Disclosure Statement, is a 6-page disclosure provided to the buyer within 5 calendar days for approval. If the home was built before 1978, a lead-based paint disclosure is necessary. If the home has a pool, a pool-safety disclosure is necessary.
• There are provisions for a Home Inspection, Home Warranty and any other inspections the buyer may elect. The Home Inspection company I recommend is a part of ASHI and certified, and very thorough!
• If the home is on well, or septic, there are certain seller obligations. However, the highest percentage of homes is city sewer and city water.
• The day before closing, there is a final walk though to make sure all is as it was when inspected, or if any repairs that were requested have been completed.
• There are warranties that survive the closing. Any information that was withheld which materially and adversely affect the sale will survive the closing. Fortunately, this has never been the case in all of the time I have been in real estate in Arizona!
• Remedies for Breach are addressed, whether by buyer or seller, what recourse, there is such as mediation, arbitration or if judicial action is warranted.
• There are additional terms, such as compensation of the Brokers (it is paid by the seller and the amount is agreed upon in the listing agreement). .

This is a synopsis of the terms of the contract. The legalese contained brings this contract to 9 pages! Fortunately, it is plain language and easily understood.

Okay, now what?

• As buyer’s agent, I present the contract to the seller’s agent, who in turn presents it to the seller. If feasible I will be negotiating with the seller and their agent at their residence.
• However, if the seller is out-of-area, negotiation is done from me to the seller’s agent, or in a conference call. May I say, that as a top producer, I have a successful career based on negotiating skills? I will definitely be working on the buyer’s behalf! You can count on it.
• There may be multiple offers, there may be counter offers. Time is of the essence as the contract states. A fair offer usually generates a fair response. With 5 years of experience as part of the Top 10 of Coldwell Banker, there will be no stone left unturned to get you the best possible outcome. .

Now, that the sellers have accepted the offer. What’s next? We have 10 days in which to do a Home Inspection. We both attend because you will learn much about the mechanisms of the home. Should you be out-of-area, I will attend. You will have a spiral-bound book listing every detail of the home, including the roof. Any repairs will be requested in writing immediately, and the seller has 5 days in which to respond.

After inspections are completed and approved, we get the loan.

The house is in good shape we agree on the terms, now it's time to get the money. What we need to get the loan and make an offer The house is in good shape we agree on the terms, now it's time to get our financing if you choose not to pay cash. What we need to get the loan and make an offer.

I have many calculators and tips on financing that may be fun to peruse before coming. However, once here, I can put you in the hands of a recommended local loan officer with access to many programs, who can counsel and guide you as to the most advantageous and appropriate one for your needs.

The terms of the contract provide for a Conditional Loan Approval from the lender based on a loan application* and Trimerged Residential Credit Report within 5 days of Seller’s Acceptance (unless specified differently in the contract). This means loan application would need to be made immediately after the offer is accepted.

The loan officer will give you a Good Faith Estimate of the closing costs involved with the financing. There are recurring costs that you pay that are included in the monthly payment, such as homeowner’s insurance and property taxes (the monthly payment consists of principal, interest, taxes and insurance and is referred to as PITI).

The one-time closing costs are the origination fee, usually one point (or 1% of the loan amount) and any other points, sometimes called discount points (the more points, the lower the interest rate). All of these expenses are optional to you as the purchaser, and with proper counseling from your lender, you will be able to make a decision about what you will elect for your loan.The appraisal fee, credit report, and other lender fees, such as document preparation, underwriting fee, are further one-time closing costs.

Wouldn’t it be nice to be able to deduct some of these costs of financing? It can be done, as this tax expert explains.  See Realty Times article, "What's Your Principal Residence? Tax Experts Not Always Certain" Also, check out "The Tax Relief of Relocating" for a possible tax break.

There are a number of tax advantages available for most American homeowners, but to benefit, you have to understand them, and report them properly to IRS. See Realty Times article, "It's Tax Time Again!"

*These are the important loan approval documents needed upon application:

• Two most recent pay stubs, W-2s for last 2 years (or if self-employed, 1040s for 2 years).
• Federal tax returns for the last 2 years.
• Last 2 months’ bank statements.
• Llong-term debt information (credit cards, child support, auto loans, installment debt, etc.)
• and finally, proof of funds for your down payment.

People buying and selling real estate open an escrow for their protection. The buyer instructs the title company (via the contract) to disburse the purchase price only upon the satisfaction of certain prerequisites and conditions.

The seller instructs the title company (via the contract) to retain possession of the deed to the buyer until the seller’s requirements, including receipt of the purchase price, are met.

Both rely on the title company to carry out faithfully their mutually consistent instructions relating to the transaction and to advise them if any of their instructions are not consistent or cannot be carried out.An escrow is important in that both can move forward separately but simultaneously in providing inspections, reports, loan commitments and funds, deeds and many other items, using the title company as the central depositing entity.

If the instructions from all parties to an escrow are clearly drafted, fully detailed and mutually consistent, the title company can take many actions on their behalf without further consultation. This saves time and facilitates the closing transaction.

Typical instructions to the Title Company

• The method by which the title company is to receive and hold the purchase price to be paid by the buyer.
• The conditions under which a lapse or breach of purchase contract provision will terminate the escrow without a closing.
• The instruction and authorization to the title company to disburse funds for recording fees, title insurance policy, real estate commissions, and any other closing costs incurred through escrow.
• Instructions as to the proration of insurance and taxes.
• Instructions to the title company on the payment of prior liens and charges against the property and distribution of the net sales proceeds.

The duties of the Title Company

• Opens the order for title insurance (provided by seller to buyer at closing).
• Obtains approvals from the buyer on the Preliminary Report, pest and other inspections.
• Receives funds from the buyer and/or any lender.
• Prorates insurance, taxes, rents, homeowner association fees, etc.
• Disburses funds for title insurance, recording fees, real estate commissions, lien clearance, etc.
• Prepares a final statement for each party, indicating amounts to be disbursed for services and any further amounts necessary to close escrow.
• Records deed and loan documents, delivers the deed to the buyer, loan documents to the lender and funds to the seller, closing the escrow.

As a buyer, you will want to arrange for the utilities to be turned on when the seller’s are turned off. Don’t forget to have the phone company ready to turn on your new service as well. Make sure all magazines, bills, and family and friends, have your new address! Anything related to school registration should also be done well in advance. Moving preparations should be made as soon as you know the offer is approved. The utility changes can often be done online and are on my resource guide page as well.

At the Closing!

The closing is almost always done at the title company (an exception could be an out-of-state or out-of-country buyer, in which case documents are express mailed and need to be notarized). Buyer and seller close at the title company separately, and the keys are not given to the buyer until the recordation, which may be that afternoon, or the next morning. The recordation, which is the recording of the deed, is considered the actual "closing", so time your movers according to the time of recordation rather than at the time of your signing.

• Buyers (and sellers) and their agents will be given an audit sheet (the settlement sheet) showing the closing costs beforehand, so there are no surprises, and the buyer will know exactly how much his cashiers check should be.
• Your loan officer will have gone over the final closing costs involved with the closing as well just prior to closing.
• Other closing costs will consist of the title company’s processing fee (escrow settlement fee), recording of the deed, pre-paid interest*, homeowner’s insurance, homeowner’s insurance impounds, property tax impounds, and a notary fee.
• *Pre-paid interest - Since mortgage loans are due on the first day of the month, and properties can close any day of the month, the interest will be prorated and paid at this time.
• Homeowner’s insurance premium is paid at the closing. However, since the mortgage company will be paying the continuing payments, it will divide the annual premium by twelve to get an estimated monthly amount and hold 2 months in your impound account.
• The same is true of the property tax. Property taxes are prorated at the closing and the buyer is responsible for the taxes from the closing date on, which may start based on the closing date, and therefore prorating gives the seller any prepaid tax refund. Taxes are divided by twelve and 2 months is held in your impound account.

Everything will be done to make this a smooth transition for you. As your agent, I keep in touch with all the parties to make sure there are no last minute glitches.

Again, I urge you to check my helpful tips. (Tell me if there’s something that should be on it that isn’t!). If you need help with unloading once you’re here, or for referrals of tradespeople, decorators, landscapers, etc., this is the time to tell me.

I’ll be stopping by with a housewarming gift, to check to see how you’re doing, and if you need anything. I am here to help, so call on me!

One thing I suggest is that ALL the papers involved with your move be kept in one place. All receipts, important papers, and the settlement papers, etc. may be needed for your income tax preparation, or for reference. The title company will be giving you a vinyl pouch for the settlement papers, but receipts and moving papers are important, too.

• If you have school children, you can feel comfortable knowing that Arizona is a place where everyone is from someplace else! Teachers are trained to welcome new children, and you’ll find children here friendlier because of their own transitions.
• What I want to emphasize here is that the "closing" is not the end of our relationship. I’m here at this point to be your friend, and ask that you consider me one. That means, call me!

Moving Resources: My goal is to make this "moving experience" an adventure, not a stress!

Moving helps you check all the bases.

Moving-Guide a directory of moving companies and services worldwide

Moving a full-color book for preteens

Relocation tips for teens

Making the most of your move

Moving Resources a helpful list and tips from Child's Movers.

Homestore all sorts of help for your move including a moving calculator that will tell you the approximate cost to have a professional move your belongings.

MoverQuotes offers real-time quotes on real-life moves. With more than 15,000 pages covering every state in the U.S., the database includes both full-service and self-service moving companies

American Movers Association lists 3,000 movers and services.

Mover Directory another directory listing Arizona movers and services.

Allied Van Lines gives you tips on moving.

Help-U-Move is a rental truck alternative. You load/unload, they do the driving.

ABF and Freight System, Inc. moving alternative on the web.


Move Central filing a change of address couldn't be easier than doing it online instead of standing in line at the post office.

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