The Journey of Buying a Home
The Buyer's Guide
A step-by-step guide from a Phoenix-native advisor
The Journey
The Buying Process at a Glance
Proper Preparation
Assess finances and get pre-approved
3–6 months out
Search + Offer
Explore homes and make a competitive offer
25–40 days out
Under Contract
Inspections, repairs, and finalize mortgage
21–30 days out
Closing Preparation
Review disclosures, confirm moving plans
3–5 days out
Closing Day
Sign paperwork and get the keys
0 days out
Post Closing
Update address, set up utilities
1–7 days after
In Depth
The Full Process
Each stage of the buying process has its own requirements, timelines, and decision points. Expand any section to learn what to expect.
The first step is understanding how much you qualify for. Meet with a local lender and get a pre-approval letter. Interview a few lenders to find the right fit — a pre-approval is only valid for 30–90 days, so while you can start conversations now, wait to pull the letter until you're ready to move.
Ask your lender:
- What type of loan they'd recommend for you, and why
- Whether you qualify for any down payment assistance programs
- What the interest rate and APR are
- Whether you'll pay mortgage insurance (PMI)
- What your estimated monthly payment will be
- Whether you can lock in an interest rate — and for how long
Before we start touring homes, get clear on your non-negotiables. I have every buyer create a needs vs. wants list.
Needs are non-negotiable — things you can't change after you buy. Think: the lot, the location, the price you paid. Wants are preferences you'd like but could add or change later.
Needs might look like:
- Enough bedrooms for your family
- Close proximity to work or a specific school
- A yard for children or pets
Wants might look like:
- Specific paint or exterior color
- Fenced-in yard
- Particular flooring
Once we've nailed down your list, we'll set up a search, start touring homes, and build a strong offer when you find the one.
1. Acceptance of Purchase Contract
Once accepted, the contract goes to the Title Company and Escrow opens. Title will reach out to arrange delivery of your Earnest Money, and we'll send all relevant documents to your Lender to begin processing your loan.
If you're financing:
- Expect regular documentation requests from your Lender — return them as fast as possible.
- If receiving gifted funds, discuss with your lender how to properly receive them so they don't raise a flag.
- Do not make major purchases, take on new debt, change jobs, or make other significant life changes until after closing. Any shift in your credit profile can result in a loan denial.
2. Earnest Money
- Must be delivered to Title no later than the next business day after contract acceptance.
- Must come from your personal account via personal check or wire — no cash, money orders, or cashier's checks if the property is being financed.
3. Preliminary Title Commitment
Within the first week after Escrow opens, we'll receive a Preliminary Title Commitment. This flags any title issues that must be resolved before we can close.
4. Seller Disclosures
From the day after contract acceptance, the Seller has:
- 3 calendar days to provide the SPDS (Seller Property Disclosure Statement)
- 5 calendar days to provide an Insurance Claims History going back 5 years
- 5 calendar days to provide a Lead-Based Paint Disclosure (if built before 1978)
HOA Properties
CC&Rs and financial statements typically arrive within the first 14 days and may come by mail or email. I am not notified when they're delivered to you — please call me as soon as they arrive so we can review them together.
5. The 10-Day Inspection Period
The inspection period begins the calendar day after the contract is accepted. This is your 10-day window to perform due diligence and confirm the home is right for you.
- A home inspection is not contractually required — but I always recommend it. Order it as early in the period as possible.
- I'll be at the property with you when the inspector walks through. If anything needs a specialist's eye, we'll bring in a roofer, plumber, pool tech, electrician, etc.
- Visit the property at different times of day during this period. Talk to neighbors. Get a feel for the street.
6. BINSR + Seller's Response
Once the inspection is complete, we decide which items to request be repaired. This is submitted to the Seller as the BINSR (Buyer's Inspection Notice & Seller's Response).
- The Seller has 5 days to respond. No response = no repairs; you purchase as-is.
- Upon receiving the Seller's response, you have 5 days to accept their terms or cancel and receive your Earnest Money back.
- Sellers are not obligated to make repairs — and tend to be less willing if your offer isn't close to asking price.
7. Appraisal
I typically recommend waiting to order the appraisal until after the BINSR is resolved — if you cancel during that process, the appraisal cost is wasted. The appraisal runs around $500–600 and is required for your loan.
If the home appraises below the contract price, the lender can only finance the appraised value. At that point, we have four options:
- Renegotiate with the Seller to reduce the contract price
- You cover the gap in cash
- You and the Seller split the difference
- Cancel the contract and receive your Earnest Money Deposit back
8. Closing Disclosure
Your lender will issue the Closing Disclosure (CD), which must be acknowledged no fewer than 3 business days before you sign your loan documents. Please send it to me to review with you.
9. Walkthroughs
- Preliminary Walkthrough — a few days before closing to verify all repairs are complete and the property is in the same condition as when you went under contract.
- Final Walkthrough — the evening before or morning of closing to confirm everything is in order.
10. Signing & Funding
Title will schedule your signing appointment. Your Down Payment and Closing Costs (typically 2–6% of the purchase price) are due at signing via wire or cashier's check. You'll receive the exact amount a day or two before your appointment.
Important: In Arizona, signing does not constitute closing. The lender must fund the loan before Title can release the file to record with the Maricopa County Recorder's Office. For a cash purchase, closing occurs once all parties have signed and funds have been delivered.
11. You're a Homeowner
Once the file records through the Maricopa County Recorder's Office, the property is officially yours. We will coordinate a key handover.
I recommend scheduling movers for the day afterClose of Escrow — we have no control over exactly when the Recorder's Office processes the file.
⚠ Wire Fraud Warning
Wire fraud is very real and continues to rise in the Valley. You must verify all wire instructions directly with your Escrow Officer by phone — even if you receive instructions by email, call the number listed in your Purchase Contract before doing anything.
Budget
The Cost of Buying a Home
When you start the home buying process, it's important to understand there are more out-of-pocket expenses than just the list price. Plan for up to 2% of the purchase price in addition to your down payment — and make sure your cash reserves are ready before you start shopping.
| Expense | When Due | Cost | Notes |
|---|---|---|---|
| Earnest Money Deposit | Within 24 hrs of contract acceptance | ~1% of purchase price | Applied toward your down payment at closing |
| General Home Inspection | During due diligence | $450–$800 | |
| Termite Inspection | During due diligence | Up to $250 | |
| Sewer Scope | During due diligence | $250–$500 | |
| Additional Inspections | During due diligence | Prices vary | Pool, roof, electrical, HVAC, etc. |
| Appraisal | During loan underwriting | Up to $500+ | More for larger homes; required for financing |
| Closing Costs — Lender & Title | Due at closing | Up to 1% of purchase price | Loan processing, underwriting, title policies, escrow fees |
| Down Payment | Due at closing | 20% preferred | Work with your lender — lower down payments are available |
| Moving & Utility Transfers | Deposits before close; balance on move day | Varies | Some utilities charge a transfer or reconnection fee |
* If paying cash, most of these expenses still apply.
FAQ
Common Questions
Here are the questions I hear most often from first-time buyers in Phoenix. Don't see yours? Reach out directly.
5% is a good place to start. The average first-time buyer puts down 7%. Work with a lender to model different scenarios and understand how your down payment amount affects your monthly payment — and especially how PMI (private mortgage insurance) factors in.
While people often use these interchangeably, they don't mean the same thing. Pre-qualification is an estimate of what you may qualify for based on the verbal information you provide. Pre-approval means a lender has actually verified your income, debt load, and run a credit check. Pre-approval carries real weight with sellers.
Yes — I have a few I work with regularly and trust. Just ask and I'll connect you. You're also welcome to use your own lender if you have someone in mind.
About 3–6 months before you'd like to move. If that window has already passed, no worries — pre-approvals only take 2–3 business days. Just make sure you have the letter in hand before you start actively shopping.
Absolutely. I can show you any home listed in our MLS system, and I'll contact FSBO (for-sale-by-owner) sellers directly on your behalf.
When you find the property, I'll run a Comparative Market Analysis (CMA) to help determine a fair offer price. Then I'll walk you through all the contract terms — earnest money amount, closing date, inspection contingencies, and any additional terms we want to negotiate. I write the offer and submit it directly to the seller's agent.
You have the right to cancel within the inspection period — typically 10 days — as long as there's an inspection contingency. Once that period expires, you cannot back out and keep your Earnest Money deposit unless the seller agrees or a specific contract term goes unmet.
If a seller receives multiple offers, their agent will typically notify all buyers, giving us the opportunity to submit our "highest and best" offer. Keep in mind that price isn't the only factor — down payment size, closing timeline, and inspection terms all influence the seller's decision.
If you went through the full pre-approval process and were upfront about your finances, it's unlikely you'll be turned down. The key: don't change jobs, make large credit purchases, take out new loans, or open any new credit accounts while your mortgage is being processed. A lender runs one final credit check right before closing.
When you have the keys. Financing typically takes 3–4 weeks from contract to close. Once the lender clears the loan, closing is scheduled. The sellers should have completely vacated by the time they sign closing documents — you can have movers lined up in advance, just plan around the closing date.
Text me. Work with one agent throughout your search — that person learns your preferences, vets properties for you, and represents your interests exclusively. If you call the listing agent directly, you're talking to the seller's representative, not yours.
I always recommend it. In the context of the largest purchase of your life, a few hundred dollars for an independent inspection is absolutely worth the peace of mind — and it can surface issues that save you far more money down the road.
