BUYING WITH CONFIDENCE
Buying a house is exciting, but can also be a huge pain! In fact, it has been ranked in the top five most stressful life events (thankfully still behind death of a loved one, divorce, major illness and job loss - yikes!).
Bottom line, it’s a big deal!
Of course, you want to be confident that you're making the right choice. You want to know you're looking in good neighborhoods and getting a fair deal (preferably a great deal!).
It also needs to make practical sense for you - location, affordability, layout and quality that match your lifestyle. After all, it's not just a house. It's YOUR house.
And you want to feel excited about it!
Then you can really feel confident that you’ve found “home.”
You know you’ll need help to make it happen, and everyone seems to know someone who’s an agent.
Wouldn’t it be wonderful to have a magic wand to find the ideal partner?
NO MAGIC WAND NEEDED
True story. After an initial lunch conversation with Brian to visit about looking at homes, he and client Deni Gaines went to straight to a new home community and found "the house." No second showing needed.
She was so happy that she promptly referred her daughter to Brian. Lightning struck twice!
The first house they walked in also turned out to be the one, and Brian helped her secure the deal even in a very competitive market.
His favorite lender - Amy Simmons at Fairway Mortgage - worked her magic on the loan. Only three weeks later, Lexi was the proud new owner of her first home.
Deni and Lexi had a simple explanation: "Brian is charmed!"
To be fair, even though he's done it a few other times in his 21+ year career, it usually doesn't go down that way. Finding the right place takes work, trust and patience.
PROFESSIONAL SKILL MEETS GENUINE CARING
Brian (almost) always signs his emails "With a smile." And he means it. Talking with Brian is like catching up with an old friend. You recognize the genuine care he feels for his clients.
If he can help you, he will. If not, he'll just tell you.
Brian’s cheerful demeanor and easygoing approach belie his professional skill. Brian has over twenty years of experience gently leading people home (still just a "newbie" compared to his dad and grandmother who are both past 40 years in the business).
Another agent once told Brian, "You've got more real estate expertise in your pinky finger than most agents will ever have!"
EXPERTISE EARNED BY EXPERIENCE
He's helped clients buy everything from a tiny two-bedroom condo for a sister in law up to a staggering 10,700 sq ft custom home on 2 acres for a couple of physicians with two awesome sons (a happy third move for repeat clients).
Brian has also had some laughs along the way. Setting off a screeching security system and not having the code delivered a dose of panic before bringing a smile after finally getting it shut off. Taking the odd "scenic route" (aka wrong turn...) sometimes happens, too.
He has effectively negotiated winning deals for clients in every market condition over the last twenty years.
It was as much of a thrill for him to help one client get their house by beating 21 other offers in 2021 (seriously!) as it was to go through six counter offers to get the right deal for another client a few years earlier. He’ll invest the effort (and apply his charm!) helping you get the best deal on the right home.
He holds a Broker License in Arizona (the highest license available - allowing him to operate his own company in residential and commercial real estate with agents working under his Broker license). He is a consistent Multi-Million Dollar Producer and active member of the WeServ Association of Realtors.
However, the greatest honor in his eyes will always be the trust and gratitude of his clients. When they smile, refer a friend to him, or call him for help with a second (or third or fourth) move, that's the reward that means the most to him.
When you’re ready to make a move, choose to work with a pro. Let Brian help lead you home!
What Happens from Offer Acceptance to Getting the Keys?
Day 0 – Offer Accepted – This is when you’ve finally got a deal! The Buyers and Sellers have both agreed to the terms of an offer.
Day 1 – Escrow Opened – The earnest deposit is sent to the title company along with a copy of the fully signed contract. This should be done within 1 business day.
Days 1 – 10 – Due Diligence & Inspections – The due diligence period begins the day AFTER the contract has been signed by all parties. It lasts 10 days OR until the Buyer Inspection Notice & Seller’s Response form has been submitted. This Due Diligence Period is the time for home inspections, termite inspections, reviewing HOA CCR’s, commitment for title insurance, and learning anything else of interest regarding the suitability of the property for you.
For a traditional sale, the Buyers may request that certain repairs be made. This request for repairs must be submitted before the end of the 10 day Due Diligence Period. The Sellers then have up to 5 days to respond – either to agree, decline, or propose another solution.
Appraisal – The contract includes a built-in safeguard that the property must appraise for at least the offer price or the Buyer has 5 days to cancel the contract. It is good practice to have the appraisal completed during the inspection period so all key contingencies can be satisfied as soon as possible.
Days 10 – 25 – Loan Processing – The final body of work is usually the completion of loan processing, underwriting, and then preparing the loan documents for signatures. Loan docs are to be at the title company AND signed 3 full days prior to closing (ie – loan docs need to be completed on Monday if the closing is scheduled for Friday).
Day 25 – Signing at Title Company – Buyers are to sign loan documents 3 full days prior to the scheduled closing date. This is also the time for Buyer down payment funds to be brought in either by cashier’s check or wire transfer. Cash buyers may wait until later. When buyers are getting a loan, the sellers sign first and may sign as soon as the final settlement statement has been prepared.
Final walk through – It’s wise to do a pre-closing walk through to make sure the repairs have been completed as agreed and no new damage has occurred. The home is supposed to be in substantially the same condition as when the offer was made.
Day 30 – Recording – This is the finish line! After all documents have been signed and all funds received, the title company records the sale with the appropriate county and it is officially done! Possession and keys are delivered following the recording of the sale.
Buyer Closing Costs
The whole list is spelled out below… Your loan officer is the best person to ask for specific details on what the closing costs will be since most of the variables are with the loan.
LOAN COSTS
Loan Origination Fee – This is the main fee for the lender you choose, and it’s generally 1% of the loan amount. Most lenders will waive or lower the origination fee in exchange for a slightly higher interest rate if you choose.
Lender “Junk Fees” – This affectionate name is actually for some important things: loan processing, underwriting, and document prep fees. They generally total around $1600. Any lender “Application fee” is – in my opinion – nothing but a true junk fee. Ask for it to be waived – most will agree to waive it. (no such hassles with my preferred lending partners)
Appraisal Fee – This fee goes to have a licensed appraiser complete an appraisal of the property to verify that the contract value is in line with market value.
Mortgage Insurance Premium – This fee is only for loans with greater than 80% loan to value. FHA, VA, and USDA are government backed loan programs that each charge an up-front mortgage insurance premium along with added monthly premiums.
TITLE FEES
Escrow Fee – This is the title company’s fee for handling the sale. This fee is split 50/50 by Buyer and Seller.
ALTA Lender's Policy – This additional title policy is required by lenders to insure good, clear title for them. It includes some protections not covered by the normal Owner’s Policy provided by the Seller, and it may be a good investment for a cash buyer, too.
PRE-PAID ITEMS
Interest Through Closing – Loan payments are made in arrears (meaning the payment you make February 1st pays for owning the home in January). If you close on January 18th, the title company will collect the interest for the last 13 days of January (what would have been the Feb. 1st payment). Your first payment after closing wouldn’t be due until March 1st.
Taxes Through Closing – Property taxes are only paid twice a year (April and October). The title company will collect a pro-rated amount for property taxes through closing plus a few months for the impound account.
Homeowner’s Insurance – You pay for a full year insurance policy at closing plus 2 months to get your impound account going.
HOA Fees – Prepayment of HOA dues are paid by Buyers, and Disclosure fees must be paid for by the Seller. Other HOA fees can be paid by either party as negotiated, including transfer fees (paid to HOA itself and/or to HOA management company), capital improvement fees, capital reserve fees, compliance fees, HomeWise doc fees, etc.
HOA fees for a sale vary widely, from a low end of about $200 total to over $3,000 in HOA fees. Somewhere between $400 - $650 is most common.
Home Warranty – This fee is also negotiable, but Buyers often ask the Sellers to pay for it. Basic home warranty coverage starts around $350 with optional coverage for pools, appliances and premium coverage at additional cost.
Miscellaneous – There are a number of other little fees such as Recording Fee to the county, notary and courier fees, etc. They’re typically under $250 all together…
GETTING A LOAN
Loan Officer – Your loan officer is the person you’ll work with to line up your loan and get it done! They are one of the key members on your home-buying team, so work with the BEST! I work with three outstanding loan officers at different companies and would be glad to connect you with them.
Paperwork – Any lender will ask for a pile of paperwork to process and approve your loan. You can plan to provide: W-2’s for last two years and most recent pay stubs (or two years of tax returns if self employed), bank statements for the last three months, stock and mutual fund account statements, and the most recent statement for IRA/401(k) accounts.
Credit Check – Obviously getting a loan includes a credit check. What score you’ll need – and what interest rate you get – will vary with different loan programs.
Conventional Loans – Conventional loans are not government-backed loans (not FHA, VA, or USDA). They generally have stricter credit requirements and more favorable terms for you as the borrower. Commonly used for Buyers with good credit and at least 5% down payment.
Jumbo Loans - In Maricopa County, the maximum conforming conventional loan amount is $548,250. Loans above that amount are "Jumbo" loans that may have different terms (usually just a slightly higher interest rate). You'll need good credit and solid income verification for a jumbo loan. You might also get a better rate by using a conforming conventional loan plus a small second loan rather than a single jumbo loan.
FHA & VA Loans – These loans are insured by the federal government and are intended to make it easier for first time homebuyers and veterans to qualify. FHA loans require as little as 3.5% down payment while VA can finance the whole 100%. Both programs charge both an up-front mortgage insurance premium and a monthly insurance premium. Special grant programs may even make your down payment for you – such as Home in Five and Home Plus.
USDA Loans – This one usually falls beneath the radar, but it’s a great program for those who qualify. USDA loans are 100% loans with an upfront mortgage insurance premium but no monthly MI fees. There are income limits that vary by household size, so not everyone will qualify. The home must also be in a USDA eligible area.