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Find all sorts of useful Arizona real estate information specifically tailored for home buyers
First things first, you absolutely should hire a realtor when you are looking to buy a house in Arizona – and here’s why…
The number one reason why you should hire a Realtor when looking at houses for sale in Arizona is that it is absolutely, positively, 100% FREE. Yes you read that correctly, hiring a professional real estate agent to help you buy a home won’t cost you a dime!
Now you’re probably thinking, “That sounds great… but… what’s the catch?!”
Well that’s the best part about it – there is no catch! The reason that you won’t have to pay your Realtor anything is that the seller has already agreed to pay both their own Realtor and the buyer’s agent as well. That’s great news for you because when you have a licensed real estate agent on your side you will experience a much smoother home buying process and potentially even save money!
Some people ask me this question, “If the seller is paying you then don’t you work for the seller and not for me (the buyer)?
The answer is a big fat no! According to Arizona State law a licensed real estate agent is required to adhere to a strict fiduciary duty to their client (the person that hires them, not the person that pays them).
A fiduciary relationship is one where I (the licensed Realtor) must keep your (the buyer client) best interests at heart. This includes; honesty, confidentiality, and integrity among other things. In fact, this is the same type of relationship that a lawyer, doctor or CPA must maintain with their clients.
The second reason to hire a Realtor when buying a home in Arizona:
The number two reason to hire a Realtor when buying a home in Arizona is that you will have a professional negotiator on your side.
Perhaps you were a hostage negotiator for the LAPD in a past life but for most of the people out there looking to buy a house in Arizona negotiating isn’t something that they have had a lot of experience with.
Luckily for you, by hiring a Realtor to help you buy your house in Arizona you get the use of an expert real estate negotiator for free.
A home is rarely sold for asking price and there are actually many things in a real estate contract that can be negotiated on besides the price.
Don’t get bullied by a seller and their Realtor, level the playing field by hiring an agent to represent you as a buyer.
The third reason to use a pro Realtor when buying your home is that if you don’t chances are that you will be paying the seller’s Realtor double to provide both you and the seller with representation.
This type of representation is called “double ending it” in the real estate industry.
It basically means that one Realtor is tying to provide advice and negotiate on behalf of two competing parties.
As you can imagine this rarely ends well for the buyer or the seller.
If you’ve never purchased a home before prepare to be inundated with paperwork.
If you have purchased a home in the past then you know exactly what I am talking about!
Because the buying (or selling) of a house is a very large purchase, the lawyers like to make sure that all of the I’s have been dotted and the T’s have been crossed.
A home purchase contract is much more complicated than a rental lease agreement.
First off, when you find a house in Arizona that you love you will need to make an offer. This is just the start of the negotiation and contract process and first offers are rarely accepted outright.
Typically speaking the seller will then counter with their own counteroffer and then the back and forth begins.
It’s not uncommon to have several offers and counteroffers before a deal is consummated.
If you are buying a home unrepresented (without a Realtor) chances are that the seller’s Realtor is going to include some contingencies in the offer that you have never heard of before.
Trust me when I say that it’s easier to just ask your Realtor what something means than it is to spend countless hours searching Google and hoping that the information that you read on the internet is correct.
Another pertinent reason to hire a Realtor when buying a house in Arizona is finance.
How familiar are you with all of the different types of financing that are available to homebuyers?
There are many different types of loans and they all have different qualifying requirements and terms.
When you work with a Realtor, it is their job to know these things.
Your Realtor will be able to take a look at your personal financial situation and help you navigate the complicated waters that are residential financing.
Personally, I have experience working with alternative financing options in my own life.
As a lifelong business owner I initially found it difficult to qualify for a home loan.
This was over a decade ago, long before I become a licensed real estate agent in Arizona, but thanks to the great Realtor that I hired, at the time, I was able to find a Mortgage broker that understood the finances of a business owner.
Even if you are like most of the people in the world and work a regular 9 to 5 job and have W2 income, there may be certain loan programs that will be more beneficial to you than a traditional mortgage.
For instance, did you know that there are some great home loan programs that will allow you to make a small down payment as a low as only 3.5%?
A traditional mortgage requires 20% down and even if you do have the full 20% down, there are some circumstances in which it would be more beneficial for you to take out a loan with a lower down payment so that you can use your hard earned and saved cash for other purposes.
The fifth reason that you should work with a real estate agent on your next home purchase is taxes.
Obviously a Realtor is not a CPA and therefore cannot advise you about your taxes but a good real estate agent will have an in-depth knowledge of how taxes work in regards to real estate.
Now, you should always consult with a reputable licensed CPA before making any tax related decision but your Realtor will be able to help you identify what real estate related issues may present a tax benefit or liability and if your Realtor is worth a darn he will know a great CPA that he can refer you to that will be able to answer your specific tax questions and make expert recommendations for you based on your individual situation.
You may or may not know that in Arizona a home seller is legally required to disclose any known defects to the person that purchases their home
This is state law and it should be taken very seriously.
If a home seller willingly hides evidence of a flaw in their home they can be taken to court and sued for damages.
This is a statute that really favors the homebuyer but think about it for just one minute.
Even though you as a buyer have every right to sue a dishonest seller do you really want to go through the hassle of hiring a lawyer and filing suit just to fix a problem that should have been disclosed in advance?
One thing that almost all Realtors are good at is spotting a problem in a home.
When you look at a house with a real estate agent as opposed to by yourself, your agent will have the opportunity to notice defects that are often missed by homebuyers.
The great thing about this for homebuyers is that your Realtor is legally required to disclose these facts.
No buyer’s agent that is worth his salt is going to let a potential problem with a house go undisclosed.
I hope that these few homebuyer tips have helped you understand the importance of hiring a Realtor when you are looking at houses for sale in Arizona.
Remember it costs you nothing to have professional representation!
If you are thinking about buying a house in Arizona or any of the surrounding communities please give me a call.
I’m not a pushy salesman at all.
I just want to help my friends and future neighbors get the very best deal on their next home.
I promise that when you work with me I will do everything in my power to make your transaction go as smoothly as possible.
Give me a call or shoot me at text at (480) 530-0777 today!
I can’t wait to meet you!!