Tag Archives: phoenix housing market

As an Arizona Realtor I can only speak to the rules governing our state. When a home buyer receives notification thier offer has been accepted several cogs are sent into motion. First, a home inspection should be ordered because the inspection period in Arizona is 10 days following the acceptance of the contract.

Next, if the transaction is financed, the lender will order an appraisal to determine their opinion of what the property is worth. The buyer will immediately open escrow with the title company chosen in the purchase contract.

The buyer should also take this inspection period time to further investigate the property beyond the walls of the home. We use a buyers advisory packet which contains information on how to conduct due diligence in regards to issues buyers might find important to them.

During the escrow period, the title company will be hard at work checking the title to the property and ensuring the transfer of title will not be an issue. The loan will be in underwriting and often times lenders will require buyers provide updated financial information during this period.

There are approximately 57 people involved in every real estate transaction. Your agent is only one of them however, they will be overseeing the work of others involved. This is why it is important to choose an agent who will put forth the time and effort to see your transaction through until the keys are in your hand.