Are you in the market to buy a home, but worried because you don't know what to expect?

This article is just the thing for you. Let me walk you through the ‘basics' and then you will be all set to find your dream home.

First, find a capable licensed realtor.  A capable realtor can mentor you through the home buying process and help you avoid the pitfalls experienced by persons who are uninformed about real estate issues. These days, your realtor can work for you, for the seller, or for both. Ask your realtor for a "Buyer's Agent" contract if you want the realtor to represent only your best interests in the search. The "Buyer's Agent" contract spells out the fiduciary duty owed to you, in other words, the realtor has to work as a prudent person would, to inform you and disclose to you, everything they find out about the properties you are considering.

Second, shop for mortgages and mortgage rates. The mortgage loan business is more competitive than ever. It will save you time and heartache if you don't locate your ‘gotta have' home, only to find out that you can't qualify for a loan or that the expenses related to owning a particular home are presently out of your reach. If you get pre-qualified for a loan, then you will know ahead of time, the down payment, mortgage payments and closing costs you can afford, and your realtor can help you narrow your search to find the perfect property you can afford.

Third, let the search begin! Have your realtor search the MLS and help you find properties which match your needs and wants.

Fourth, once you find a home you like, your realtor can help you view the property. All sellers are required to fill out a Seller's Property Disclosure Statement (SPDS). This document will let you know about some defects which a seller has to disclose by law; such as lead paint, roof defects, and problems with the foundation, to name a few.

Fifth, once you find the house you want to purchase, your realtor can help you make an offer on the property. Your offer should be in writing and cover such items as the purchase price, down payment if any, legal description of the property, and who pays for any damage to the property if any occurs before the closing date.

Sixth, although optional, we highly recommend you conduct a thorough due diligence on the property such as a home inspection and termite inspection when your offer is accepted.  We provide you with a Buyers Guide to give you an idea of other types of inspections that are available for you to conduct.  A thorough review of the home will give you an accurate assessment of what you are really buying and any potential problem areas associated with the home, which are not disclosed on the Seller's Property Disclosure Statement.

Buying a home should be an exciting time. Let us know how we can help you find the home you're looking for in the Tucson area.