This is where you should answer the most common questions prospective clients have asked us before. It’s our jobs to make sure that you have all the information you need to make a well informed decision.
Whats the 1st step?
The first step is making the decision that home buying is something that you are interested in. The market is very competitive, so it is important to have a team you can trust working for you. We recommend that your 1st real step is to have a conversation with us about your goals and time lines. We will help you from there.
How do I know I will qualify for a home?
Qualifying for a home is quite easy. There are many programs out there and lenders are very aggressive in helping our clients out. We have been able to help those others weren’t able to.
What is the difference between a pre-qualification and a pre-approval?
A pre-qualification shows you what you can afford and a pre-approval is confirming with bank statements, pay stubs and credit reports what you have provided verbally for the sake of achieving a full loan approval.
Hows the market? Are we in a bubble?
A lot of news outlets will lead you to believe that we are in a period of unsustainable growth (a bubble) but the facts speak otherwise. Tucson’s market has been shielded from a lot of the quick and volatile changes that we see in the big markets like Denver, Phoenix, and San Diego. Our sustained growth over the last 10 years has shown a respective 1% growth year over year. That shows that we are steady growing, and the market is performing well.
How long does it take to buy a home?
The typical transaction take about 45 days from the moment you agree on a purchase contract. Some transactions are able to be completed much quicker than that and all depend on a couple different factors.
How much of a downpayment do I need?
That depends on what type of financing you are working to obtain. There are programs and lending tools available that require as little as $0 down. Down payment assistance programs to exist to help some clients get money towards their purchase. Send us a message, and we’d love to discuss this in more detail with you.
Is a home warranty important? What does it cover?
The importance of a home warranty depends on what you want covered in a home. In general they are very handy to have in the event that a major failure of a household appliance occurs. They can cover a wide variety of items so make sure you ask your Alpha Agent about one and discuss whats important to you.
What are seller concessions?
Seller concessions are proceeds that the seller has agreed to give back to the buyer to help with covering the costs of buying a home. These costs may include, but are not limited to; inspections fees, title fees, appraisal fees, lender costs, and other fees related to closing a transaction.