Finding the home of your dreams is just the first step of many in the long and often complicated home buying process. Having an exclusive buyers agent as your partner will help you navigate this journey.
A recent report indicated that in 2016, many home sales “failed.” In other words, the buyer and seller did not complete the transaction. Many factors came to light in this report with these three being the most often cited reasons: buyer’s mortgage not coming through, appraisal below the sales price, and extensive defects discovered during inspection.
As a buyer, with an exclusive buyers agent by your side, you CAN successfully buy a home but your expectations need to be reasonable and your preparation complete. In order to ensure your mortgage comes through, a pre-approval is the best option. Then, in terms of appraisal, there’s not a lot anyone can do as the appraisals in hot markets need to catch up to home values. But you can think about if you’d be willing to pay more for the home if the appraisal comes in low.
Finally, home inspections can turn up any number of issues. You need to examine the inspection report carefully and determine if any issues would be large enough to mean you’d walk away from the entire purchase. It’s good to have reasonable expectations on what should and should not be repaired prior to the purchase. Your Exclusive Arizona Buyers Agent can advise you in evaluating the report and then successfully moving on to the next step in the home purchase process.
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