Donna Anderson ABR, ALHS, CRS, e-PRO
Long Realty - Foothills
Tucson, Arizona
(520) 615-2598
E-Mail: Donna@DonnaAnderson.Com

 

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Donna's Tips | Buyers Resources

Donna's tips for preparing to buy your dream home.

KNOW YOUR LIMITATIONS

• PRICE: Get pre-approved by a reputable Lender who is very familiar with the area you are purchasing in. This is very important for many reasons:(1) You want a local appraiser to do the appraisal. This will allow for a  more accurate appraisal.  If you use an out-of-area Lender, they may use an appraiser who is not very familiar with the area you are purchasing in.  If you want the house and it under-appraises, this could cost you more money. The Lender could require you to put more money down to get the loan; (2) You want a Lender that is familiar with local taxes, maintenance fees and HOA fees; (3) You want your truth-in-lending statement to be very close to your final costs on your settlement sheet; reputable local lenders want more business referred to them and will more likely be more accountable. You need to know how large a mortgage you qualify for, and you need a letter from the Lender stating this.  A strong pre-approval letter will strengthen your negotiating position.

• EDUCATE YOURSELF: Be ready for this process to take weeks and don't buy until you are really educated, because if the house is priced well and located in a desirable neighborhood, you will have to make a quick decision.  This will be easier if you have done your homework.

• BUYER BEWARE: You should always have a home inspection even when competing Buyers do not make this part of their offer. There maybe major flaws that the present owner does not know about.  Better to be safe than sorry. Most Sellers do not want to wait longer than 10 days for you to make the final decision to buy their home.

• DEPOSITS:   Make your  escrow deposit as large as possible.  This deposit goes towards your closing costs and downpayment anyway, and it will impress the Seller if your deposit is larger, especially when there are other Buyers that are making offers on their property.

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Donna Anderson ABR, ALHS, CRS, e-PRO
Long Realty - Foothills
Tucson, Arizona
(520) 615-2598
E-Mail: Donna@DonnaAnderson.Com

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donna@donnaanderson.com

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I am pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. I encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin." For comprehensive resources on fair housing and related real estate issues visit www.fairhousing.com.