Friday, June 25, 2021 / by Steve Ticknor
Open houses used to be a regular part of the Havasu home buying experience. But during the pandemic, this was put on hold for a while. While we now see open houses occur more regularly, some people still feel concerned about entering a stranger's home. And for out-of-town buyers, physically visiting properties becomes difficult. In a highly competitive market like here in Lake Havasu City, you need to be ready to pounce on a property as soon as you think it works for you. If you are interested in buying a Havasu home sight unseen, use these tips to make it a successful experience.
How to Buy a Home Sight Unseen
An experienced local Lake Havasu REALTOR® knows the market better than anyone. This really helps when you wish to buy a home sight unseen. Interview several agents. Ask them for references (and make sure you contact those references directly). Discuss how long they have been working in the Lake Havasu market and inquire about how many buyers they have worke. ...
Thursday, March 25, 2021 / by Steve Ticknor
Congratulations on finding the home of your dreams. The seller even accepted your offer. Way to go! You made it past the first hurdle. Now...you enter escrow. Here is where we talk money. The downpayment is only one expense buyers pay. (If you need it, downpayment assistance is available for some Lake Havasu home buyers, by the way.) Buyers must also pay closing costs. But what are they, how much should you expect to pay, and does the seller have to pay any of them?
What are They?
Closing costs are the fees that buyers and sellers pay to various third parties in order to facilitate the sale of a property. These typically run between 2% and 7% of the purchase price. In Arizona, they run on the lower end. According to Finder.com, ClosingCorp puts them at 1.21% to 1.82% of a home's purchase price. For a $300,000 Lake Havasu home, this means roughly $6000. And that is in addition to your downpayment. Sometimes, even in a seller's market, the seller may offer to help pay so. ...
Saturday, January 30, 2021 / by Steve Ticknor
Purchasing a property for first-time homebuyer can sometimes feel a bit overwhelming. First, you need a good REALTOR® to represent you. Then, you must make sure your financials are in order. That includes your downpayment. If you find your funds a little short, consider utilizing the downpayment assistance program Home Plus Arizona to make your home purchase a little easier.
Home Plus Downpayment Assistance Program
What is Home Plus Arizona?
The Arizona IDA oversees the non-profit Home Plus Arizona program. Buyers may qualify for up to 5% of the home's purchase price to fund either their downpayment, closing costs, or both if needed. Of course, certain restrictions apply for this downpayment assistance program. And the amount available to the buyer(s) depends on the sale price of the home in question as well as the creditworthiness and income level of the buyer.
How Does Home Plus Work?
First, a buyer/buyers must qualify for a 30-year fixed-rate Home Plus Loan. That means cont. ...