Buying A Home

What is the first step of the home buying process?
If you plan to finance, getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval is generally a quick process and demonstrates that you are a serious buyer to both your Realtor and the person selling their home. A pre-approval may be required before you can view a home in person or put in an offer.

First, you need to know how much you are approved to purchase. Knowing how much home you can afford narrows down online home searching to suitable properties, no time is wasted considering homes that are not within your budget. Pre-approvals also help prevent disappointment caused by falling in love homes out of your range.

Your Lender will help show you a clear picture of what is financially required to buy a home. This is also where you'll meet with our expert lender to get pre-approved. We work with a trusted partner. That way, we know you're getting the best financing option for your situation. Often at a rate that's better than what a bank would offer. The Benson Group has several preferred Lenders that can help walk you through this process.

I already own a home, can I sell and buy a home at the same time?
It's time to take a look at the numbers. We do a complete equity assessment for you. This shows you the equity you have available to you in your current home. We also present several options to you to leverage that equity. Should you roll it into your next home? Is this an ideal time to look for investment potential? We'll paint a clear financial picture for you.

Why should I buy a home instead of renting one?
Oftentimes, it is more cost-efficient to buy a home rather than rent one. When you buy, you are investing in your own future. When you rent, you are helping your landlord to invest in his or her future. There also are financial perks like tax deductions and home equity that come along with owning a home. There are also low down payment and grant down payment options available.

I have my pre-qualification, what’s next?
Congratulations! This is an exciting time and we would be so honored for the opportunity to help you find your new home! We will set up a time to discuss your needs and learn more about what is important to you in your future home. It’s time for you or the family to come together,  and unite under a common mission. You need to find a space that has enough room for everyone and everything. That way, you can all thrive. That’s where my The Benson Bliss Process comes through. We have designed it to help busy people and families like yours purchase their homes in the Phoenix Valley, with my positive and calming energy. Here’s how it works.I found the perfect home, now what?
Once you have found the home that you want to make an offer on, timing is important. Our team uses the best technology to get your purchase agreement together quickly, utilizing digital signatures that you can sign from your phone or computer. We are accessible even after traditional business hours. We will take the time to run a detailed analysis to determine what the true market value is for the home you are interested in to ensure you are offering a fair price. We will use this data to put together an action plan for your offer price and terms. In this market homes can go fast and it is not uncommon to see multiple offers. We know how to help your offer stand out. There is a lot that goes into the offer process and having an experienced Realtor on your side can help you get your dream home.

It is very important that our team listen to you, your needs & wants are our priority. We are by your side all the way, even after closing. We care about your quality of life, and sometimes we know that you just may need a friend to talk with during these times, from the first time we meet, and after you close you can count on us. We take this seriously, when we first meet, we focus on the vision you have for your family. We want to know how you envision your family's life in your new home. 

What is an earnest deposit?
If you’re ready to make an offer on a particular home and also want to prove to the home seller that you’re serious about your offer, there’s a way to prove your commitment. This is where earnest money comes into the picture. When a buyer and seller enter into a contract, the seller takes the home off the market while the transaction moves through the entire process to closing.

Earnest deposits are typically 1% of the purchase price however if your finances are tight you can offer a lower amount. The higher the deposit, the more serious you will look to the seller. As a buyer your deposit would be due within 24-48 hours of going under contract.  If the deal falls through due to a failed home inspection or any other contingencies listed in the contract the buyer typically gets their earnest money back.

Should I get a home inspection?
Once your offer is accepted, most purchase agreements will give you a 10 day inspection period. This gives you time to do all of your due diligence. This includes hiring a home inspector and a termite inspector. Even though your excitement is at its highest, you can’t bypass one of the most important aspects of the home buying process, the home inspection. The typical cost of an inspection can range between $400-$700 depending on the square footage and features of the home, pool, etc.

How quickly can I get the keys?
Typical escrow periods are 30 to 45 days, depending on your loan. This gives you enough time to do the investigation on the property and get your loan and appraisal completed. Your keys are given to you once the deed has recorded.

What is an appraisal?
The findings from an appraisal determine the amount a mortgage lender will let you borrow for the property. Appraisals must be conducted by a licensed, third-party appraiser who has no connection to the buyer, seller or lender. That way, all parties can be sure the determined market value is fair, unbiased and free of any influence from any party that could benefit. The lender usually orders the appraisal, but the borrower is the one who pays for it.

How much do I have to pay a Realtor to help me buy a house?
Home buyers pay little or no fees to their Realtor when buying a home. For most home sales, there are two real estate agents involved, one that represents the seller and another who represents the buyer. In Arizona, for most transactions the home sellers take care of the Realtor fees.

Navigating a real estate purchase is tricky business. The internet has made it possible to do a lot of the legwork yourself, but there’s no substitute for an experienced professional. An expert negotiator who knows the market can save you time, money and heartache by helping you make the right offer, playing hardball when necessary and staying on top of the process.

Should I use my friend or relative as my Real Estate Agent?
This is a common question because the average person knows many Realtors. Your friend just got their real estate license, and they’re struggling to find clients. You may feel bad and almost obligated to use them. But do you really want the sale of your largest financial asset to be a training camp for your friend? That’s super risky.

Any time you’re facing a large financial decision, like buying or selling your home, it’s wise to work with an experienced professional to guide you through the process. Once word gets out that you’re looking for a real estate agent, you might be bombarded by friends and family members asking you to hire them for the job. Your cousin’s mother in law, who has only been in the business for six months, is not going to have the same networks in the real estate community as a real estate expert who has been in the business for years.

Think of it like this: A real estate transaction is likely going to be the biggest money deal you make in your lifetime, and there really is no room for mistakes. It is not the time to toss a bone to your friend or relative who just got a real estate license and lives 20 miles away.

Real friends will respect your decision and not make you feel guilty about it and so will any agent you’d want to do business with. You have to ask yourself if you would hire that person if you had no relationship with them, never hire a Realtor because you feel bad. At the end of the day this is a business decision for you and your family.

How do I search for a home?
Keep in mind many popular home searching sites make millions of dollars off of leads. This means these sites are more likely to make homes appear for sale when they are actually sold or closed. This can be frustrating for buyers and waste your time. You’ll want to use a site that gives you direct access to the MLS with real time availability, the similar access Realtors have, www.marabenson.com offers that.

Do I need a Realtor when buying a brand new home?
Yes! Never visit the model homes without your Realtor.  WE MUST BE WITH YOU ON THE VERT FIRST VIST TO REGISTER YOU. The Sales Consultants in the office represent and work for the builder AKA the seller. If you go in alone it is risky and if you end up buying you may be unrepresented, meaning you will have no one on your side, reviewing the legal documents and looking out for your best interests. Builders are not able to give you a better deal if you do not have a Realtor, having an experienced Realtor on your side can actually help you save money, negotiate prices, upgrades and explain the contract terms to you. Our team walks your home every couple of weeks, takes pictures, meets with the contractors, documents flaws and even attends the walk throughs. Our team has sold hundreds of new builds and we can walk you through each step. Please call/text us before visiting any model homes.

What are your thoughts on discount agents?
If you have been searching for a home online you may have seen ads for “discount agents”, Flat Fee Agents or Agents that will pay YOU to use them. You’ll want to beware of any of these tactics to get your business. There is a lot that goes into a real estate transaction, a lot of room for error and there is no substitute for having an experienced Realtor on your side. Navigating these issues takes experience. Given enough years, an experienced agent will see just about every issue you can think of. This could be the difference between a blown up deal, and one that holds together.

Ultimately, you have to decide which route is right for you and your family. Odds are going with a discount broker probably really won’t help you walk away with a better deal when all of the final numbers are negotiated and calculated. There are many reasons why traditional agents and brokers stick around through even the toughest real estate markets and new discount brokerages tend to pop up only when the market is hot.