The short answerStart with a written pre-approval, decide what matters most before you tour, write an offer with clean terms, then keep your finances steady through inspection, appraisal and underwriting until closing.
Step 1: Start with the money, not the listings
Most buyers open a listings app first. The buyers who do best in a competitive market do it the other way around: they get a written pre-approval before they tour. Knowing your real budget, including property taxes, homeowners insurance and any HOA dues, changes which homes you look at and how seriously sellers take your offer.
A pre-approval is free and doesn't commit you to anything. It does involve reviewing your income, assets and credit, so have your pay stubs, W-2s or tax returns, and two months of bank statements ready. See how to get pre-approved.
Step 2: Decide your must-haves before you tour
Separate the things you can't change from the things you can. Location, commute, school boundaries, lot size and layout are permanent. Paint, flooring and fixtures are cosmetic.
- Commute: drive it at rush hour, especially if it involves the US-60 or the Loop 101 or 202.
- HOA: many East Valley neighborhoods have one. Read the rules and include the dues in your budget.
- Systems: in the desert, the age of the AC and roof matters more than the countertops.
- Lifestyle: parks, shopping, schools and noise at different times of day.
Step 3: Make an offer that can compete
Price gets attention, but terms win contracts. A clear offer with a solid earnest money deposit, a realistic closing date and a pre-approval from a lender who answers the phone often beats a slightly higher offer with uncertain financing.
Your agent and I should talk before your offer goes in. Listing agents often call the buyer's lender to check how solid the financing is; when they reach someone who knows your file, your offer is stronger.
Step 4: From accepted offer to keys
Once your offer is accepted, escrow opens with a title and escrow company, which is how closings work in Arizona. Arizona's standard purchase contract includes an inspection period (commonly 10 days unless negotiated otherwise) and asks your lender for a Loan Status Update early on.
- 1Deposit your earnest money with escrow.
- 2Schedule and attend the home inspection; your agent negotiates any repairs during the inspection period.
- 3The lender orders the appraisal and underwriting reviews your file.
- 4Answer any underwriting conditions the same day you get them.
- 5Review your Closing Disclosure at least three business days before signing.
- 6Do a final walk-through, sign, fund, and get the keys once the deed records.
Most closing delays are really document delays. Fast replies keep your closing on schedule.