logotop

callUs
or email us bill@ourbestrealestate.com

Ask an Arizona RealtorBill Cotter
Direct: (480) 205-9080
Realtor, MLS Logo, Fair Houseing Logo



Arizona Real Estate
Paradise Valley AZ Homes for Sale

Ahwatukee Real Estate
Anthem Real Estate
Fountain Hills AZ Homes for Sale
Chandler AZ Homes for Sale
Gilbert AZ Homes for Sale
Glendale Real Estate
Mesa AZ Homes for Sale
Peoria Real Estate
Phoenix Real Estate
Queen Creek Real Estate
Scottsdale Real Estate
Surprise Real Estate
Tempe Real Estate
Tucson Real Estate


A Guide to Buying a Home
The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!

Nine steps to buying a home
1. Figure out how much you can afford
2. Know your rights
3. Shop for a loan
4. Learn about homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowners insurance
9. Sign papers

Step 1: Figure out how much you can afford

What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. The calculators below can help, but it is best to visit a lender to find out for sure.

How much home can you afford?
Buying vs. Renting
Need help with your downpayment and/or closing costs?

Step 2: Know your rights

Fair Housing: Equal Opportunity for All - brochure
Real Estate Settlement Procedures Act (RESPA)
Borrower's rights
Predatory lending

Step 3: Shop for a loan

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.

Step 4: Learn about homebuying programs

Homebuying programs in your state
FHA loan programs offer lower downpayments and are a good option for first-time homebuyers.

Let FHA help you
HUD's special homebuying programs
Good Neighbor Next Door (formerly known as Teacher/Officer/Firefighter Next Door)

Step 5: Shop for a home

Choose a real estate agent
Wish list - what features do you want?
Decide what type of home is best for you:
"Fixer-uppers" - home purchase and repair programs
Manufactured (mobile) homes
Build a home
If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.

Back to Top

Step 6: Make an offer

Discuss the process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale. This is where a realtor is very helpful.

Step 7: Get a home inspection

Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

Step 8: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around.

Step 9: Sign papers

You're finally ready to go to "settlement" or "closing." Be sure to read everything before you sign!


scottsdale real estate agent | arizona new homes for sale | arizona relocation | arizona residential and commercial investments | realtors and real estate consultants | arizona selling and buying guide | contact an arizona real estate agent