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Now more than ever, you should work with a qualified real estate professional when considering purchasing a home for yourself or an investment property. Did you know that over 57% of the properties on the market today in Arizona are either a foreclosure or a Short Sale? While the bargains are certainly out there, the following are the most commonly asked questions:
1. The seller is not offering any disclosures. How do I protect myself to avoid unforeseen issues with the property? Have a home inspection! Check the structure, roof, plumbing, termites, pool --everything. Know what you are getting into before you purchase.
2. There is a house in my neighborhood that I want to buy but it needs fixing up and I don't have the money. What are my options? Consider a 203k Rehab loan! Often better than asking the seller to make repairs. This way your loan amount includes the repair/rehab money and you are able to change and repair the property the way YOU want it to be. 203k is an excellent underused product that will help you buy the real home of your dreams and have it just the way you want to without coming out of pocket.
3. Is there still Downpayment money available? YES! Fill in the information below and our preferred lender will contact you and let you know what programs are available and if you qualify.
4. It seems that investors paying cash, are beating me out of every deal. How can I buy a home that I intend to live in when I get outbid by an investor every time? If you are purchasing a Fannie Mae or Freddie Mac home, there is a 15 day period when the property is first marketed that only Owner Occupant offers will be considered. Make sure you are working with an agent that knows the guidelines and how to correctly submit your offer. HUD homes are also open only to Owner Occupants at the first offering! Click on the HUD homes tab to learn more.
5. Are there properties available that I don't need to worry about fixing? Yes! There are plenty of properties out on the market that are move in ready. In fact there are "products" available for Owner Occupants that are move in ready. The City of Phoenix has rehabbed homes with downpayment - up to 15%!- available for qualified purchasers. BRIDGEBILT, is another rehabbed property product that ONLY sells to Owner Occupants.
There are a number of options available whether purchasing a home to live in or looking for investment property. If you would like to see if you qualify for any of the products mentioned above please fill in the information below and a representative will contact you.
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