Successfully buying a home is a process not a one-time event. Buying a home is like opening a combination lock: Even if you have the numbers, you still need to follow the opening sequence in the proper order to be successful. Step 1: Making the Decision to Buy - Consider the reasons you want to own a new home and write them down.
- Make a list of your needs and wants.
- Determine how long you plan to own this real estate asset.
Step 2: Self Assessment - Know your credit score – you can get a free credit report at www.annualcreditreport.com
- Understand why your credit score is what it is!
- Analyze how much cash you have, but don’t be scared off if you have very little. Even in this market, there are opportunities for first time homebuyers to get into homes without a lot of cash.
- What recurring payments do you have – car payments, student loans, medical bills?
- What is your debt-to-equity ratio? This means how much do you owe compared to how much you have already saved.
You may need help with this. Good lenders are willing to sit down with you and “do the numbers” even though you may not be ready to buy for a year or more. The advice you get for free may get you on the road to buying a home in the future. Step 3: Get professional advice Select a Realtor® -- the term "REALTOR®" is a registered membership mark that identifies a real estate professional who is a member in good standing of the NATIONAL ASSOCIATION OF REALTORS®, State and Local Associations & MLS Boards. REALTOR® members abide by a strict Code of Ethics. Realtors® may choose to continue their education by earning additional designations, such as Graduate of the Realtor® Institute (GRI), Accredited Buyer Representative(ABR), and Certified Residential Specialist(CRS). I have all of these designations, plus the EcoBroker® designation. The Realtor® members of Team Heitland at RE/MAX Peak Properties are all Accredited Buyer Representatives. Step 4: Become Financially Prepared Unfortunately, many buyers go through the entire process of searching, evaluating and writing offers on homes, without ever being financially prepared. Financial preparation could mean the difference between a fun, enjoyable, home buying experience, or a stress filled, chaotic mess. Team Heitland highly recommends that you get qualified with a reputable FLAGSTAFF lender – you can find a list on our website. Step 5: Know the Market Team Heitland at RE/MAX Peak Properties can help you learn about the market. All real estate is local. We’ll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration and tough negotiation with the home sellers. We’ll explain the technical difference between a “Seller’s Market” and a “Buyer’s Market” and how to watch the home sales statistics to tell which type of market you’re dealing with and how to capitalize on it. Step 6: Find the Right Home for You Finding the right home has never been easier. Team Heitland will set up an automated system for identifying homes that match your needs and search criteria and give you your own Client Portal to the MLS system. Never worry about missing the right home again, and get details not available from the public access search site anytime of day (or night). Once you select your favorites, we’ll schedule a live showing tour and help you systematically evaluate each home we see together. Team Heitland at RE/MAX Peak Properties can show you any home that is for sale, whether it’s on the multiple-listing-service or not. As importantly, we can help you place those “off-MLS” homes in perspective with the entire selection available to you. Step 7: Make an Offer The professional team of Realtors® at Team Heitland at RE/MAX Peak Properties will put together the purchase offer tailored for your needs including appropriate contingencies. Step 8: Investigate Usually this is called the inspection process. I prefer to have you think of it as an “investigation” because that is likely to make you think more broadly than simply hiring a home inspector. You need to perform a variety of steps to make sure this home is the right one for you, and a single home inspector is only part of that process. Step 9: Appraisal and Underwriting Your lender will require an appraisal and your loan will need to go through a process called “underwriting.” It’s important for you to cooperate fully with the underwriters requests and to make sure your lender and real estate agent do the same. Your Realtor® should be tracking this process to make sure it is done right. Step 10: Closing In Arizona, we don’t have formal, sit-down closings, but that doesn’t mean that this part of the process is not important. Prior to closing, you should do a final walk-through of the home to make sure it is in the condition you are entitled (by your previously carefully written contract) to expect. You should have loan documents available to sign and review three days prior to closing, and you should understand them! Your lender should have the funds delivered to escrow by the day of closing. Your real estate agent should be helping you make sure that all of this happens. We will! To buy your next Flagstaff home, call Team Heitland at RE/MAX Peak Properties. Start taking advantage of the seven reasons to own your home now! | 
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