I’ve guided 500+ buyers through this process in the Phoenix Metro over 22+ years. Here’s how it works, start to finish.
Step 1: Get Pre-Approved
Pre-approved, not pre-qualified. Needs W-2s/tax returns, pay stubs, bank statements, ID. Timeline: 1–3 business days.
Step 2: Choose Your Buyer’s Agent
Buyer’s agent compensation is typically covered by the seller’s proceeds. I work the Phoenix Metro full-time as a solo agent.
Step 3: Define Your Search
Budget, must-haves, preferred cities, timeline, deal-breakers.
Step 4: Search and Tour Homes
Desirable homes move fast in Phoenix. Evaluate condition, layout, HVAC age, roof, pool, storage.
Step 5: Make an Offer
Purchase price, earnest money (1–2%), closing date (30–45 days), contingencies, inclusions, seller concessions.
Step 6: Open Escrow and Deposit Earnest Money
Due within 3 business days, credited toward closing costs at closing.
Step 7: Complete Inspections (Days 1–10)
General ($300–$500), termite ($75–$150), pool ($150–$300), sewer scope ($150–$250). Then request repairs, accept as-is, or cancel. Full guide: home inspections in Arizona.
Step 8: Appraisal
Lender orders independent appraisal, 5–14 days. If below purchase price, negotiate, pay the difference, or cancel with contingency.
Step 9: Final Loan Approval
Underwriting reviews your full file. Don’t make large purchases, open credit, or change jobs during this period.
Step 10: Final Walkthrough
24–48 hours before closing — verify repairs, inclusions, condition.
Step 11: Close Escrow — You Get the Keys
Sign documents, lender funds the loan, deed records, you get keys.
Full Timeline Summary
Pre-approval 1–3 days, home search varies, offer to acceptance same day–3 days, inspection days 1–10, appraisal 5–14 days, final approval 2–4 weeks, closing day 30–45.
You Don’t Have to Navigate This Alone
I’ve done this 500+ times.
Call Mike at (480) 201-3700 or contact me here to start the conversation.
Mike Caruso | HomeSmart Elite, Scottsdale AZ | 22+ years | 500+ homes sold
