Why YOU Need a Dedicated Full-Time Real Estate Agent in Arizona…
Who will be completing the contract forms, negotiating the offer and looking out for YOUR interests?
The contract (and many addenda attached there to) contains the agreement of Buyer and Seller, stating representations and promises to be performed by each of the parties.
o Do I need earnest money?
o What happens to the earnest money?
o What if the check does not ‘clear’?
o What if the Buyer changes his/her mind, after signing?
o Why an option period?
o How much should be deposited?
o How many and what kind of inspections? (whole property inspection, septic, well, radon, pool, hot tub, plumbing, electrical, HVAC, mold, structural, foundation slab, roof, solar – have pigeons roosted under the solar panels and ruined the roof because no screening was installed to keep them from roosting under the solar panels)
o What are the time limits for all inspections?
o Once inspected, what are the parties’ choices?
o How do I know what financing options there are?
o How do I get qualified and approved for a home loan?
o What if the Buyer is not loan qualified?
o What if the Buyer does not have enough money?
o What if the Buyer’s Credit Report reveals credit issues?
o How long will it take to obtain financing?
o What interest rate / points?
o What happens if the Lender cannot provide the interest rate stated in the contract?
o How much are the Closing Costs?
o What if the Lender’s appraiser does not substantiate “value” of the property?
o What if the Lender requires “repairs”?
o Who will pay for these repairs?
o How will these repairs be made?
o What if the Lender rejects the property?
o What if the Buyer’s verifications are not returned?
o What if “conditional” approval is issued and these conditions cannot be met?
o What if the Lender does not approve of the survey?
o What happens if flood insurance is required?
o What about easements on the property?
o What if the loan is not approved within the time stated in the contract?
o What happens if a title commitment is not issued to Lender?
o What if the title search discovers ‘title problems’?
o What if property insurance cannot be found for property?
o What if the home has high RADON levels?
o What happens if Buyer objects to the title exceptions of insurance coverage?
o What happens if the Lender objects to the title exception of insurance coverage?
o What happens if the Closing Date is not met?
o What if the Buyer is unable to provide information needed?
o What if the loan documents are not acceptable to Buyer?o What if the loan documents are not acceptable to Buyer’s attorney?
o What if the Underwriter has requirements?
o What if termite certification is required?
o What happens if the Lender delays the closing?
o How do I get a CLUE report?
o What if the home is not insurable?
o What if there are too many insurance claims on the property?
o What if the loan is not timely funded?
o What if the loan documents and closing papers are not prepared in time for the contract
closing date?
o What if Buyer and Seller disagree about the closing costs charged on the Closing
Statement?
o What if the Buyer wants to move in prior to signing the Closing papers? Prior to the
Seller receiving his or her monies from the Closing?
o What if the Buyer’s “Lock-In” interest rate expires PRIOR to the closing?
o What about Residential Service Contracts ‘excluded items of coverage’ after closing?
o What if the Buyer objects to closing because of his walk-thru?
o More seriously, what if the Buyer’s home fails to close and their loan was contingent upon
selling their home?
o What if the Seller needs to do a lease-back after closing?
As you may have read, there are many pieces to a real estate transaction that must be put into place to reap the final rewards of a Closed Sale. Marketing your home to the buying public and/or looking for your new home is an involved process in itself, plus coordinating and understanding all of today’s legal requirements of transferring title in a real estate sale.
All Arizona Homes and Condos Realty Agents, Affiliates and Referral Partners are Dedicated Full-Time and specialize in their respective local markets – NOT outside of their area of expertise. Real estate professionals who take pride in their ability to coordinate and move a real estate transaction to a SUCCESSFUL CLOSING!