By The Russo Fadler Group at Realty ONE Group. Reviewed by Lianne Russo Liddell, Associate Broker. Updated October 2026.

Buying a home in Greater Phoenix comes down to three things: knowing your buying position before you start searching, understanding how much leverage you have in your part of the market, and managing a contract that runs on firm contractual deadlines once your offer is accepted.

This guide walks through each stage, the decisions you'll face along the way and why they matter, so you can make them with clear information instead of pressure.

Planning to buy? Schedule a Buyer Strategy Call or search Greater Phoenix homes.

How Does Buying a Home in Greater Phoenix Work?

Buying a home generally happens in three phases: preparing and planning, searching and making an offer, and managing the contract through closing. The decisions you make early, about budget, financing and representation, shape the options you have later.

In the first phase, we help you understand your buying power and the total cash you'll need, get preapproved and look at how competitive your segment of the market is. You'll also sign a written buyer agreement before touring homes with your REALTOR®, as required under current REALTOR®/MLS rules.

Once you're searching, we evaluate each home you're serious about against comparable sales, competing listings and the seller's situation. Then we structure an offer that's competitive without giving up protections you may need later.

After your offer is accepted, the contract runs on deadlines. We track every one of them through the inspection period, repair negotiations, appraisal, loan approval, title and HOA review, and closing.

How we approach every purchase

There's no one-size-fits-all approach to buying a home. Our strategy changes based on your leverage, and the rest of this guide explains how.

1Phase 1 of 3: Prepare & Plan

What's Your Buying Position?

Your buying position is the combination of what you can comfortably pay each month, the cash you have available and how strong your financing looks to a seller. It matters before you look at a single home, because it decides which homes make sense for you and how competitive your offers can be.

Start with the monthly payment, not the price

A home's list price doesn't tell you what it will cost to own. Your monthly payment includes principal and interest, property taxes and homeowners insurance (together called PITI), plus HOA dues and mortgage insurance if they apply. You'll live with the monthly payment, not the sales price.

Your buying power combines three things: the monthly payment you can comfortably carry, the cash you have for a down payment (including proceeds from selling a current home), and the amount a lender will approve you to borrow. Our mortgage calculator can give you a rough starting point.

How do lenders decide what you can borrow?

One of the main measures lenders use is your debt-to-income ratio, or DTI: the percentage of your gross monthly income that goes toward recurring debt payments, including the proposed housing payment. Lenders weigh DTI along with your credit, income, assets and loan program. The acceptable ratio varies by loan program, lender and borrower, so your lender determines the limits that apply to you.

Here's the part that matters most: the amount a lender will approve and the amount you're comfortable paying aren't always the same number. We'd rather you buy at the second one.

Prequalification vs. preapproval: what's the difference?

A prequalification is a quick estimate. A preapproval is the lender's review of your actual finances, and it's what sellers typically want to see with a financed offer.

Prequalification	Preapproval
An estimate of what you might borrow	A lender's documented review of what you can borrow
Usually based on information you provide	Requires a full application, a credit check and proof of income and assets
Useful for early planning	What sellers typically want to see with an offer

Get preapproved before you start touring seriously. It confirms your budget, keeps you from falling for a home outside it and shows sellers you can follow through. Keep in mind that a preapproval isn't final loan approval. That comes through underwriting after you're under contract, which is why your finances need to stay steady until closing.

Which loan type fits you?

The most common options in Greater Phoenix include:

• Conventional loans. Not government-insured. Down payments vary, and putting 20% or more down generally avoids private mortgage insurance (PMI).
• FHA loans. Insured by the Federal Housing Administration, with lower down payment options and more flexible qualifying. The appraisal includes property condition requirements.
• VA loans. Guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, service members and some surviving spouses, often with no down payment required.
• Adjustable-rate mortgages (ARMs). An interest rate that's fixed for an initial period and can adjust afterward. ARMs may offer a lower starting rate than a fixed-rate loan, but the trade-off is uncertainty about future payments.

Loan programs change regularly, so your lender is the right person to compare them for your situation.

Why does financing strength matter to sellers?

When a seller compares offers, they're weighing price against the likelihood that each buyer will actually close. Your loan type, down payment, closing flexibility and how responsive your lender is all factor into that judgment. A strong financing profile can make your offer more competitive without raising the price, which we'll come back to in making a strong offer.

Lender introductions are a courtesy. The Russo Fadler Group and Realty ONE Group are not responsible for any referred lender's availability, reliability or performance, and we do not receive referral fees or compensation from the lenders we introduce.

What Does It Cost to Buy a Home in Arizona?

Buying a home takes more than the down payment. Most buyers need cash for earnest money, the down payment, inspections, the appraisal and closing costs, plus reserves they keep after closing. Buyer closing costs can run roughly 2% to 5% as a general planning range, but the actual amount depends on your loan, lender and contract. Your Loan Estimate is where you'll see the estimate for your specific purchase.

Cost	What it covers	How much?
Earnest money	A deposit held by escrow once your offer is accepted, credited toward your purchase at closing.	Negotiated in your offer
Down payment	The part of the price you don't finance.	Depends on your loan program
Inspections	The general home inspection and any specialty inspections you choose.	Depends on the property and inspections
Appraisal	Your lender's valuation of the property.	Set by your lender or appraisal provider
Closing costs and prepaids	Loan, title and escrow charges, plus prepaid interest, insurance and property taxes.	Varies by loan, lender and contract
Post-closing reserves	Cash you keep available for repairs and unexpected expenses.	Based on your comfort level and lender requirements

Down payments often range from 3% to 20% or more, and some eligible loan programs, such as VA loans, allow less or none at all. For reserves, many buyers plan for a cushion of two to three months of housing expenses, though the right amount depends on your situation and your lender.

Your earnest money may be at risk if you fail to perform under the contract and don't have a contractual right to cancel. That's one reason we track every deadline closely once you're under contract.

What's included in buyer closing costs?

Your purchase contract and loan terms decide who pays what. In Greater Phoenix, buyers commonly pay:

• Loan fees charged by your lender
• The lender's title insurance policy, if you're financing
• Their share of the escrow fee, which buyers and sellers often split
• Recording fees for documents in the buyer's name
• Prepaid interest, the first year of homeowners insurance and funds to start an impound account for property taxes and insurance
• HOA transfer or capital-improvement fees, property-specific assessments and a home warranty, when applicable under the contract

In many Arizona resale transactions, the seller customarily pays the premium for the owner's title insurance policy, which protects you as the new owner.

Can the seller help pay your closing costs?

Sometimes. You can ask the seller for concessions, which are credits toward your closing costs or interest rate. Whether that request makes sense depends on your segment of the market. Where sellers have leverage, a large concession request can weaken your offer. Where buyers have more leverage, concessions are common. Lenders also limit how much a seller can contribute, depending on the loan program.

Will you pay your agent's compensation?

Possibly. Your buyer's agent's compensation is set in your written buyer agreement. It may be paid by the seller, by you or by a combination of both, and it's often negotiated as part of your offer. We cover how that works in buyer representation.

Is down payment assistance available?

Down payment assistance may be available through state or local housing programs, nonprofit organizations and participating lenders. Eligibility, funding and program terms change, so ask your lender early which options may fit your situation and how they would affect your offer.

Why Is There No Single Phoenix Real Estate Market?

Greater Phoenix isn't one housing market. It's dozens of smaller markets operating at the same time, each defined by price range, location and property type. Your leverage as a buyer depends on the conditions inside your segment, not on the metro-wide headlines.

That's why "Is it a buyer's market or a seller's market?" is too broad a question to be useful. Two homes a mile apart can face completely different levels of competition.

What defines a market segment?

A segment is a specific slice of the market, shaped by:

• Price range. Buyers shop in price bands, and each band has its own level of competition.
• Location. The city, submarket and neighborhood.
• Property type. Single-family resale, condo or townhome, new construction.
• Who you're competing against. First-time buyers, move-up buyers with equity, cash investors.
• Financing. How buyers in that segment typically pay, such as FHA, VA, conventional or cash.

Segment conditions decide how competitive offers need to be, how much room there is to negotiate, whether seller concessions are common, how much appraisal risk you're taking on and whether speed matters more than price.

There is no single Phoenix market. What matters most is your segment.

How do the main segments behave?

These are analytical categories, not fixed price bands. What counts as entry-level or luxury differs by area and shifts over time, but each segment tends to follow recognizable patterns in Maricopa County.

Same month, different market: an example

Here's a hypothetical example of two buyers shopping in Greater Phoenix in the same month:

Same metro area. Different segment. Different leverage.

How do we read your segment?

Before you write an offer, we look at what's happening inside your price band and area:

• Absorption rate, or how quickly homes are selling compared with how many are available
• Days on market and how they're trending
• How quickly comparable homes are going under contract
• Seller behavior, such as price reductions and relistings
• How often sellers are paying concessions
• How strong the competing buyers' financing is

Together, these tell us whether you're buying from a position of strength, a balanced position or a defensive one, and your strategy adjusts to match. A position of strength means the data gives you more room to negotiate. A balanced position means both sides have leverage. A defensive position means competition is stronger, so price, terms and timing require more care. Misreading your segment leads to overbidding in some cases and missed opportunities in others.

Is now a good time to buy a home in Phoenix?

Headlines don't buy houses. Strategy does. The right time depends on your segment, your timeline and your financial position more than on national news about rates or prices. We look at inventory, months of supply, how quickly homes in your segment are selling, the interest rate environment and the direction prices are moving, then help you decide whether to move now or wait.

Waiting for perfect timing has its own cost, and so does buying without understanding your segment. Our job is to show you both sides clearly.

Should you buy new construction or a resale home?

Neither is better for everyone. The right choice depends on your priorities, your budget and your total cost of ownership, not just the base price. Here's how the two compare on the things that affect your risk and your equity:

	New construction	Resale
Contract	The builder's own contract, with buyer rights, deadlines and cancellation provisions that can differ substantially from the Arizona Association of REALTORS® Residential Resale Purchase Contract	The Arizona Association of REALTORS® Residential Resale Purchase Contract, with its deadlines and buyer protections
Price and incentives	Base price plus incentives, which may be tied to the builder's preferred lender or title company. Negotiation is less transparent.	Negotiated against comparable sales, with price, credits and terms all in play
True cost	Upgrades and lot premiums can add significantly to the base price	The price reflects the home as it stands, plus any repairs or updates you plan
Inspections	Inspection rights and repair procedures depend on the builder contract and warranty program.	A full inspection period and one formal repair request
Appraisal exposure	Appraisal risk can be higher in early phases or highly upgraded homes when few comparable sales are available	Depends on the comparable sales and how competitive your offer was
Timeline	Built-to-order homes can take months. Move-in-ready inventory is faster.	Financed resale purchases often close in roughly 30 to 45 days, depending on the loan and contract
Resale positioning	If you sell while the community is still building, you may compete with the builder's own new homes	An established neighborhood with a track record of sales

We compare total cost, contract exposure and future resale strength side by side, so you're choosing between real numbers rather than a base price and a list of features.

How Does Buyer Representation Work in Arizona?

Before you tour homes with a REALTOR®, you'll sign a written buyer agreement. It spells out the services your agent provides, how long the agreement lasts and how your agent's brokerage will be compensated. That compensation is negotiable, and it can be paid by the seller, by you or by a combination of both.

Representation rules changed nationally in 2024. The goal of the changes was more transparency for buyers, and understanding them up front helps you structure stronger offers and avoid surprises during escrow.

When do you need a written buyer agreement?

Under current REALTOR® and MLS rules, an agent who is an MLS participant must have a written agreement with you before you tour a home together, whether in person or through a live virtual tour. The requirement comes from REALTOR® and MLS policy, so it applies when you work with a REALTOR® through the MLS.

You don't need an agreement to walk through an open house on your own or to ask an agent a few questions about their services.

We use an exclusive buyer agreement, which means our team represents you in your home search and purchase for the term of the agreement. It covers:

• The services your agent will provide
• The term of the agreement, or how long it lasts
• How compensation works and the specific amount
• The fiduciary duties your agent owes you

You're never obligated to sign an agreement you don't understand. Read it, ask questions and make sure the terms fit how you want to work together before you sign.

Is buyer's agent compensation negotiable?

Yes. Compensation isn't set by law, by any REALTOR® association or by the MLS. It's negotiated between you and your agent's brokerage, and it must be:

• A specific amount, such as a percentage, a flat fee or a dollar amount
• Clearly stated in writing, not open-ended or left as a range
• Agreed on before you tour homes together

Who pays the buyer's agent?

In Arizona, there are three common possibilities:

• The seller pays. The seller agrees to compensate your agent's brokerage as part of the transaction, usually negotiated in your offer.
• You pay. If the seller doesn't agree to cover it, you're responsible for the compensation in your buyer agreement.
• A combination. The seller covers part of it, and you cover the agreed difference.

We structure offers to reduce your out-of-pocket cost when we can, without weakening your position. A compensation request is part of your offer, so it's weighed alongside price and terms, just like any other request.

What does your agent owe you?

Whatever the compensation arrangement, your agent has fiduciary duties to you. That means:

• Acting in your best interest
• Keeping your information confidential
• Disclosing material facts
• Following your lawful instructions
• Using reasonable care and diligence
• Accounting properly for any funds

Compensation doesn't change those duties.

What hasn't changed?

The rule changes didn't change your ability to negotiate, your right to ask questions, your ability to request seller concessions or your choice of who represents you. Seller concessions and agent compensation are separate items, and we keep them separate in every offer. Real estate is still negotiable.

2Phase 2 of 3: Search & Offer

How Do You Find the Right Home?

Start with why you're moving, then decide where you want to live and what kind of home fits. Defining those three things before you tour keeps your search focused and gives you a clear way to make trade-offs when no home checks every box.

You may not find a home with every item on your wish list, and sometimes not every need either. When you're facing a tough compromise, go back to your why. It's usually the clearest guide to which trade-offs you can live with.

What should you look at beyond the house itself?

Listing photos show the house. Many of the things that affect your cost of ownership, your daily life and your future resale aren't in the photos. In Greater Phoenix, these deserve a look early:

• HOA rules and fees. Monthly dues, rental restrictions, architectural controls and any special assessments affect affordability and how you can use the home.
• Solar. Whether a system is owned, financed or leased matters. A solar lease or loan may need to be transferred to you and approved by your lender and the solar company before closing.
• Pools and spas. They add enjoyment and ongoing maintenance, and they deserve their own inspection.
• Wells and septic systems. Some properties outside city service rely on them, which adds inspection and transfer requirements.
• Flood zone and insurance history. Both can affect what insurance costs and whether coverage is readily available.
• School boundaries. If schools matter to you, confirm boundaries directly with the school district. They can change, and online listings aren't always current.

Why does the Arizona Buyer Advisory matter before you make an offer?

The Arizona Buyer Advisory is a document from the Arizona Association of REALTORS® that outlines the issues buyers are expected to investigate before purchasing, including property condition, zoning, flood zones, environmental concerns, insurance history, HOA governance and utilities. Arizona contracts put the responsibility for due diligence on the buyer, and the advisory clarifies what the seller must disclose and what you need to research yourself.

It's not a scare document or a substitute for inspections. It's a roadmap. Reading the parts that apply to a home before you write an offer helps you spot the questions worth answering during your inspection period, and we'll point you to the sections that matter for the specific property.

The Arizona Department of Real Estate's consumer page, Topics to Research Before Purchasing Real Estate, is another useful starting point. It links to state resources on environmental hazards, soil conditions, flood zones, water availability, school boundaries and HOA disputes.

Should you think about resale before you buy?

Yes, even if you plan to stay a long time. The location, layout and condition that matter to you today, along with how well the HOA is managed and funded, will also matter to the next buyer. A home that's easy to love but hard to resell can limit your flexibility later, which is why long-term equity is part of every recommendation we make.

How do you stay on top of new listings?

In competitive segments, well-priced homes can draw interest quickly. You can search Greater Phoenix homes on our site anytime, and we can set up alerts so you're notified when homes that fit your criteria hit the market, change price or go under contract. Prefer to search on your phone? Download The ONE App to search and save homes with our team.

How Do You Evaluate a Home Before Making an Offer?

Before you write an offer, you need to know four things: what the home is realistically worth, how much leverage you have with this seller, what risks come with the property and the highest price you can justify. List price is the seller's starting point, not a measure of value.

What do we look at?

Your market segment tells us the general conditions. Evaluating a specific home tells us how this property and this seller fit within them.

What we look at	What it tells you
Recent closed sales of comparable homes	What buyers have actually paid, not what sellers are asking
Concessions on those sales	Whether the seller paid toward the buyer's costs, which helps us understand what the sale price really represented in the negotiation
Active and pending listings nearby	Your alternatives, and where prices are heading
Days on market and price history	How other buyers have responded to this home at this price
Seller behavior	Signs of motivation, such as price reductions, listing language, showing activity or a previous contract that fell through
Condition	Likely inspection findings and the repair or replacement costs you may be taking on
Appraisal risk	Whether a lender's appraisal is likely to support the price, especially for unique homes or areas with few recent sales

Two homes listed at the same price can deserve very different offers. One may have sat for two months after a price reduction. The other may have hit the market last weekend with three showings a day.

How much should you offer on a home?

There's no standard offer, such as a fixed percentage below asking. The right number depends on the home's supported value and your leverage with this seller right now. Sometimes that means offering below list price. Sometimes it means offering at or above it, with a clear plan for the appraisal.

Before any offer goes out, we answer one question together:

What is the maximum rational number, not the emotional number?

That number becomes your walk-away point. Setting it before you write the offer makes it much easier to hold if the negotiation gets competitive, and it keeps one great showing from turning into a decision you regret later.

Why does overpaying matter if you love the home?

The price you pay follows you. Paying more than the data supports can:

• Leave you covering an appraisal gap in cash if the lender's value comes in lower
• Reduce the equity you start with, which affects future refinancing and resale options
• Make it harder to sell without a loss if your plans change in a few years

Loving a home is a good reason to compete for it. It isn't a reason to stop checking the numbers.

How Do You Make a Strong Offer Without Overpaying?

A strong offer isn't always the highest one. It combines a price the data supports with terms that matter to this seller and protections you can keep. Price is one lever, and it often isn't the deciding one.

The goal is not simply to win. The goal is to win intelligently.

What does winning actually mean?

Winning means:

• Securing the home
• At a price the data supports
• With your protections intact
• Without taking on financial exposure you don't need

Your protections are the contract rights that let you renegotiate or cancel if something significant comes up. The main ones are your inspection period, your appraisal contingency and your loan contingency. As long as you act within their deadlines, they also help protect your earnest money.

An accepted offer that falls apart at the appraisal, or one that leaves you without a safety net if the inspection turns up a major problem, isn't a win.

What can you offer besides price?

Sellers weigh more than the number at the top of the offer. Depending on the seller's situation and your leverage, these terms can make your offer more competitive:

• Earnest money. A larger deposit shows you're committed. It's credited toward your purchase at closing, but it's also the money at risk if you fail to perform without a contractual right to cancel.
• Closing date and possession. Some sellers need a quick close. Others need more time or a short stay after closing. Before writing, we ask the listing agent what matters to the seller, because matching their timeline can count as much as price.
• Inspection period. A shorter inspection period can make an offer more attractive, as long as it still leaves enough time for every inspection and investigation you need. Under the Arizona Association of REALTORS® Residential Resale Purchase Contract, inspection-period concerns are generally delivered in a single formal notice, so rushing this window has real costs.
• Repair expectations. Signaling that you'll focus on safety and major systems rather than cosmetic items can reassure a seller who's worried about a long repair list.
• Appraisal terms. Agreeing in advance to cover some or all of a potential appraisal gap can strengthen an offer in competitive segments, but only with cash you can genuinely spare and a limit you've set ahead of time.
• Concessions. Asking for fewer seller credits can make an offer cleaner. Whether to ask at all depends on your leverage, as we covered in what it costs to buy.
• Financing strength. A solid preapproval, a meaningful down payment and a responsive lender all tell the seller your offer is likely to close.

Sometimes a well-structured offer wins without being the highest.

When does an escalation clause make sense?

An escalation clause automatically raises your offer by a set amount above a competing offer, up to a maximum you choose. It can be useful when a home is likely to receive multiple offers, but it shouldn't be automatic.

Before using one, we look at whether comparable sales actually support the higher price, how much appraisal risk it creates, how likely competing offers really are, how much timing pressure the seller is under and how much inspection risk you're willing to accept. Your cap should never be higher than your maximum rational number from evaluating the home.

How do you plan for appraisal risk before you offer?

If your offer is above recent comparable sales, the appraisal may come in lower than your price. You shouldn't discover that risk after your offer is accepted. Before submitting, we talk through:

• How large a gap could realistically appear
• How much of it you could cover in cash and still keep healthy reserves
• Whether splitting a gap with the seller is a realistic option
• The point at which you'd rather cancel than keep going

We cover your options if the appraisal does come in low in appraisal and your loan.

What happens before your offer goes out?

Offers aren't guesses. They're structured strategies. Before any offer is submitted, we:

• Review your financial comfort zone and walk-away point
• Confirm which contingencies protect you and how the deadlines are structured
• Talk through likely counteroffers and how you'd respond
• Plan for what could go wrong, including a low appraisal, a repair dispute, a loan delay or a need to extend the timeline

What won't we do?

We won't waive protections casually, remove contingencies without walking through the risk, push your price beyond what the data supports, chase an emotional bidding war or ignore appraisal exposure. Winning means nothing if the deal falls apart later or leaves you in a weaker financial position.

Strategy before submission prevents problems after acceptance.

3Phase 3 of 3: Contract to Close

What Happens After Your Offer Is Accepted?

Once the seller accepts your offer, you're under contract and the clock starts. Your purchase contract runs on deadlines that begin at acceptance, and most of your protections depend on acting within them. From here, the process moves from negotiation to execution.

What happens in the first few days?

Within hours of acceptance, we:

• Open escrow with the title company
• Confirm the acceptance date and calculate every contract deadline
• Notify your lender so the loan timeline starts moving
• Begin scheduling inspections
• Request the seller's disclosures, including the Seller's Property Disclosure Statement (SPDS), the insurance claims history and HOA documents if they apply

Your part in those first days:

• Deliver your earnest money to escrow as your contract requires
• Complete your loan application and authorize your credit report, if you haven't already
• Start gathering the documents your lender will ask for
• Start shopping for homeowners insurance, which you'll need in place by closing

What are the key deadlines after acceptance?

Under the Arizona Association of REALTORS® Residential Resale Purchase Contract, the main deadlines typically look like this. Your contract may change some of them, and unless it says otherwise, these are calendar days.

Milestone	Typical deadline
Earnest money delivered to escrow	Upon acceptance, per the contract
Buyer's loan application and credit authorization	Within 3 days of acceptance
Seller delivers the SPDS	Within 3 days of acceptance
Seller delivers the insurance claims history	Within 5 days of acceptance
Inspection period, ending with your inspection notice	10 days, unless you negotiate a different period
Seller responds to your inspection notice, then you reply	5 days each
Your lender's Loan Status Update (LSU) delivered to the seller	Within 10 days of acceptance
Review of the title commitment and HOA documents	5 days after you receive them
Decision after a low appraisal	5 days after notice of the appraised value
Seller completes agreed repairs	3 days before close of escrow
Final loan approval or signed loan documents	No later than 3 days before close of escrow
Homeowners insurance in place	By close of escrow

Some properties add their own deadlines, such as solar documents and lease or loan transfers, private wells, septic systems, lead-based paint disclosures for homes built before 1978 and flood status reports. If they apply to your home, they go on the same calendar.

How do we keep track of it all?

We run every transaction through a Critical Date system that tracks each contract milestone, contingency window and response deadline from acceptance to closing. You'll hear from us before every major decision point, so you're never guessing what comes next.

If either side misses an obligation, the contract allows the other party to deliver a cure notice. That gives the party who missed it three days to fix the problem before it becomes a breach of contract. We watch those timelines closely, on both sides.

What's your role while you're under contract?

We manage the structure. You manage responsiveness. That means:

• Responding quickly during the inspection period
• Getting documents to your lender as soon as they're requested
• Keeping your finances steady, with no new debt, large purchases or job changes
• Confirming wire instructions directly with your escrow officer by phone before sending money
• Checking in with us before you make any decision that could affect the contract

What Does Due Diligence Include in Arizona?

Due diligence is your chance to investigate the home before you're fully committed to buying it. In Arizona, most of it happens during the inspection period, which is typically 10 days. It goes well beyond the home inspection to include the seller's disclosures, the property's insurance claims history, specialty inspections and any other questions the Arizona Buyer Advisory raises for that property.

What does the inspection period cover?

• Physical inspections. The general home inspection plus any specialty inspections the home calls for.
• The Seller's Property Disclosure Statement (SPDS). The seller's written disclosure of what they know about the home's condition and history.
• The insurance claims history. A record of past insurance claims on the property, which can point to past water damage, roof issues or other problems worth a closer look.
• Homeowners insurance quotes. Shopping for coverage early tells you what insurance will cost and whether anything about the home makes coverage harder to get.
• Anything else the Buyer Advisory raises. Permits, zoning, flood status and other items that apply to the specific property. We covered what the advisory is in finding the right home. This is when it does its real work.

HOA documents and the title commitment run on their own review timelines, which we cover in HOA and title review.

What inspections do you need?

At minimum, a full general home inspection, which covers the roof, structure, plumbing, electrical, heating and cooling and other accessible areas. Depending on the home, you may also want:

• A termite or wood-destroying insect inspection
• A sewer scope, which we strongly recommend for homes 30 or more years old
• A roof inspection
• A pool and spa inspection
• An HVAC or plumbing inspection
• A structural engineer's evaluation, when the general inspection points to a concern
• Well and septic inspections, for properties that have them

We give you several inspector options to choose from, and we help you schedule the general inspection early in the window. That leaves time for a specialist to follow up on anything the general inspector flags.

Providing a list of inspectors is a courtesy. The Russo Fadler Group and Realty ONE Group are not responsible for any referred professional's availability, reliability or performance, and we do not receive referral fees or compensation from the professionals on our list.

How should you read an inspection report?

Every home has findings, even a brand-new one. Reports often list dozens of items, from minor maintenance to major system concerns. The goal isn't to find a perfect house. It's to identify risk.

We help you sort the findings into what they really are:

• Normal wear and tear
• Deferred maintenance
• Safety hazards
• Structural issues
• High-cost mechanical risks
• Cosmetic preferences

Then we focus on what materially affects your safety, the home's livability, your financial exposure and its long-term resale value. Read the full report, not just the summary page, and decide where your line in the sand is before you decide what to ask the seller for.

Why does timing matter so much?

Under the Arizona Association of REALTORS® Residential Resale Purchase Contract, your inspection-period concerns are generally delivered in a single formal notice. That means every inspection, follow-up evaluation and contractor estimate you need should be finished before that notice goes out. During the inspection period:

• Don't assume every issue needs to be fixed
• Don't rely only on the report's summary page
• Don't skip a specialty inspection to save time
• Don't let the deadline pass while you wait on a contractor quote
• Don't waive inspection rights casually

If an inspection uncovers something that changes the financial picture, such as foundation movement, a failing sewer line or a roof that needs replacing, canceling within the inspection period is a legitimate option. Our job is to help you weigh the facts calmly, not react emotionally.

How Do Repair Negotiations Work?

After your inspections, you deliver one formal notice to the seller: the Buyer's Inspection Notice and Seller's Response, or BINSR. In it, you can accept the home as-is, cancel the contract, or ask the seller for repairs or credits. The seller has 5 days to respond, and you then have 5 days to decide whether to move forward. There's no second round, so what you ask for, and how you ask, matters.

1. 1 Finish your inspections. Every inspection, follow-up evaluation and estimate you need should be complete first.
2. 2 Deliver the BINSR. Before your inspection period ends, you accept the home, cancel or request repairs or credits.
3. 3 The seller responds. Within 5 days, the seller agrees to all, some or none of your requests, or proposes an alternative.
4. 4 You decide. If the seller doesn't agree to everything, you have 5 days to accept their response or cancel.
5. 5 Repairs are verified. Agreed repairs are completed before closing and checked at your final walkthrough.

Two details catch buyers off guard. First, if you don't respond within your 5-day window, the contract can treat that as accepting the seller's response. Second, verbal agreements about repairs aren't binding. Everything you and the seller agree to needs to be in writing.

What should you ask the seller to fix?

We approach repair requests strategically, not emotionally. We prioritize:

• Safety issues and electrical hazards
• Active leaks
• Structural concerns
• Roof failures
• Major system defects

We generally leave out minor cosmetic issues, personal preference upgrades and low-impact maintenance items. Overreaching can lead the seller to refuse, weaken your negotiating position and raise the risk that the deal falls apart over items that didn't matter much to you in the first place.

The goal is protection, not perfection.

Should you ask for repairs or a credit?

Sometimes a credit toward your closing costs, or a lower price, makes more sense than asking the seller to make repairs. With a credit, you:

• Choose your own contractor and control the quality of the work
• Avoid repairs rushed to meet a closing date
• Reduce the risk of a delayed closing
• Avoid disputes over whether a repair was done properly

Lenders have rules about how seller credits can be applied, so we coordinate with your lender before agreeing to one. We weigh repairs against credits case by case.

How are agreed repairs verified?

Under the contract, the seller completes agreed repairs at least 3 days before close of escrow and provides receipts. We confirm the work at your final walkthrough, and we request documentation when it's appropriate. If repairs aren't finished, the contract's cure period may apply, and we track that timeline closely. We cover the walkthrough in the final week and closing.

What Happens With the Appraisal and Your Loan?

While your inspections are underway, your lender is working in parallel: ordering the appraisal, reviewing your file in underwriting and moving your loan toward final approval. If the appraisal comes in below your purchase price, you typically have 5 days to decide how to respond, and your options include renegotiating, covering the difference or canceling.

How does your loan move forward while you're under contract?

• Your lender orders the appraisal
• Underwriting reviews your income, assets, credit and the property
• Your lender delivers a Loan Status Update (LSU) to the seller, typically within 10 days of acceptance
• Your conditional approval moves toward final approval as you satisfy the lender's conditions

Your contract's loan contingency helps protect your earnest money if, despite your good-faith efforts, your loan isn't approved. That protection depends on notice being delivered on time, generally no later than 3 days before close of escrow, which is one more deadline we track for you.

What if the home appraises low?

Your lender bases your loan on the lower of the purchase price or the appraised value. If the appraisal meets or exceeds your price, you move forward normally. If it comes in lower, your appraisal contingency gives you a decision window, typically 5 days after you receive notice of the value. Your options are:

• Ask the seller to reduce the price. This is more likely when the market favors buyers, the home has been on the market a while or the comparable sales clearly support the lower value.
• Cover the difference in cash. This can make sense for a highly desirable home when you can comfortably afford it and still keep healthy reserves.
• Split the difference. You and the seller share the gap, which is often a practical compromise.
• Cancel the contract. If you can't reach a resolution and you're within the contingency window, you can cancel and recover your earnest money. That's a legitimate protection, not a failure.

Missing the deadline can waive your appraisal protection. Waiving the contingency in your offer gives it up entirely, which is why we discuss appraisal risk before you submit.

Why do low appraisals happen?

A low appraisal can happen because comparable sales don't support the contract price, the market shifted recently, the home has unique features that are hard to value, the offer escalated above recent sales or the appraiser's approach differs from how buyers in the market see the home. A low appraisal doesn't automatically mean you overpaid. It means the lender won't finance above that value without an adjustment.

When it happens, we confirm your lender's flexibility, review the comparable sales, weigh the seller's leverage and your financial comfort, and negotiate from the data. Don't panic, don't immediately offer to cover the gap and don't assume the seller will refuse to negotiate.

What if you're using a VA loan?

VA financing includes a process often called Tidewater. If the appraiser expects the value to come in below the contract price, they notify the parties before finalizing the report. Your agent can then submit additional comparable sales for the appraiser to consider, and the value may be adjusted before the report is issued.

What if the appraisal comes in high?

You're not required to share the full appraisal report with the seller. We may simply confirm whether the value met the contract price. If the appraisal comes in above your price, you start ownership with more equity than you paid for.

How do you protect your loan approval until closing?

Your loan isn't final until closing, and lenders often re-verify your credit, employment and funds right before it. Until then:

• Don't change jobs, become self-employed or quit your job
• Don't buy a car, furniture or anything else large on credit or with funds your lender has verified
• Don't open new credit accounts or let anyone run your credit
• Don't spend money you've set aside for closing
• Don't move money between accounts, change banks or make large deposits without checking with your lender first
• Don't pay off or close existing accounts unless your lender asks you to
• Don't cosign a loan for anyone
• Tell your lender and us about any change in marital status, since it can affect your loan and how you hold title

Even small financial changes can delay or derail final approval. When in doubt, ask your lender before you act.

What Should You Review in HOA and Title Documents?

Two sets of documents deserve close attention while you're under contract: the HOA documents, if the home is in an association, and the title commitment. Each comes with a short window, typically 5 days after you receive it, to disapprove anything that concerns you. These reviews are often overlooked, and they're easy to miss if no one is tracking the dates.

What's in the HOA documents?

If the home is in an HOA, you'll receive the association's disclosures, usually within about 10 days of acceptance, depending on the size of the association. They typically include:

• The governing documents, including the CC&Rs (covenants, conditions and restrictions), bylaws and rules
• The budget, financial statements and reserves
• Monthly or quarterly dues, plus any transfer or capital-improvement fees due at closing
• Current or planned special assessments
• Rental restrictions and architectural controls
• Any pending litigation involving the association

What HOA red flags should you look for?

HOA rules affect how you live in the home, whether you can rent it out and how easily you can sell it later. Watch for:

• Thin reserves or upcoming special assessments, which can mean unexpected costs after you buy
• Pending litigation, which can affect loan approval in some cases
• Rental caps or restrictions, if you might rent the home in the future
• Strict architectural rules or enforcement, which can limit changes you plan to make and affect future buyer demand

You typically have 5 days after receiving the HOA documents to disapprove of any items, and we review them with you before that window closes. If you don't disapprove within those 5 days, you may lose the chance to object.

What does the title review cover?

After your contract is accepted, the title company searches the public records for anything that affects ownership of the property and issues a title commitment. It lists the conditions and exceptions the title policy won't cover, such as easements, recorded restrictions and liens. We review the commitment with you and flag anything unusual before your window to disapprove it expires. Most title issues are resolved by the title company before closing.

The title company also serves as escrow: a neutral third party that holds the funds, prepares and gathers the documents, and records the sale with the county.

What's the difference between an owner's and a lender's title policy?

• Owner's policy. Protects you against covered title problems that existed before you bought the home, such as forgery, fraud or recording errors. It's a one-time premium at closing, and it lasts as long as you or your heirs own an interest in the property.
• Lender's policy. Required by most lenders, and it protects only the lender's interest in the property, not yours.

How will you take title?

Escrow will ask how you want to hold title, meaning whose names go on the deed and in what form. Arizona is a community property state, so property acquired by a married couple is generally presumed to be community property unless it's held another way. Common options include community property, community property with right of survivorship, joint tenancy with right of survivorship, tenancy in common, sole and separate property, or ownership through a trust or business entity.

Each option has legal and tax consequences, especially for inheritance. We're not able to advise you on which is right for you, so talk with an attorney or CPA before you decide.

How does ERAS help protect you from deed fraud?

Deed fraud happens when someone who doesn't own a property records documents to sell it or borrow against it without the true owner's knowledge. If you buy from someone who isn't the real owner, the legal and financial consequences can be serious.

The Arizona Department of Real Estate's Early Real Estate Sales Alert System (ERAS) is a free, voluntary tool designed to help prevent that. With the consent of both buyer and seller, escrow sends basic details about the sale to ERAS: the seller's name, the property address and the parcel number. If the true owner has registered for alerts, they're notified of the pending sale and have time to step in before closing.

You'll be asked to authorize ERAS as part of your escrow instructions. All parties must consent for it to be used, and we recommend it. An owner's title insurance policy can cover losses from forgery or fraud, but preventing the problem is better.

What Happens in the Final Week and at Closing?

By the final week, inspections are done, repairs are negotiated, the appraisal is resolved and your loan is close to final approval. Now the work shifts from negotiation to execution: reviewing your final numbers, completing the walkthrough, wiring funds safely, signing and, finally, recording. In Arizona, you become the owner when the deed records with the county, not when you sign.

1. 1 Final loan conditions. Your lender clears the last underwriting conditions.
2. 2 Closing Disclosure. You receive your final loan terms and costs at least 3 business days before signing your loan documents.
3. 3 Final walkthrough. You confirm the home's condition and any agreed repairs.
4. 4 Signing and funds. You sign your documents and wire your funds to escrow.
5. 5 Funding and recording. Your lender funds the loan, and the deed records with the county.
6. 6 Keys. You receive the keys once recording is confirmed.

What should you check on your Closing Disclosure?

Federal law requires that you receive your Closing Disclosure at least 3 business days before you sign your loan documents. It shows your final purchase price, loan terms, interest rate, cash to close, prorations, credits and fees. We go through it with you to confirm:

• Your earnest money is credited
• Any agreed seller credits are applied
• HOA fees match what the contract calls for
• Property tax prorations look correct

Nothing should be signed until those numbers have been reviewed. Questions about loan terms go to your lender, and questions about the settlement figures go to your escrow officer.

What is the final walkthrough?

The final walkthrough happens in the days just before closing. It isn't another inspection. It's verification. We confirm that agreed repairs are complete, the home's condition matches the contract, there's no new damage and the fixtures and any agreed personal property are still there. If repairs aren't finished, the contract's cure period may apply, and we address it before funds are released.

How do you wire funds safely?

Your down payment and closing costs are usually wired to escrow, and wire fraud is a real and common threat in real estate. Criminals send emails that look like they're from your agent, lender or title company, with fake wire instructions.

Most escrow companies require your funds to arrive by wire transfer, so plan ahead to make sure the money is available and your bank's wire cutoff times won't delay closing.

What happens at the signing appointment?

You'll sign your loan documents, final disclosures and settlement statement. Plan for about an hour, and bring a valid government-issued photo ID, since your signatures are notarized. We're available to answer questions and confirm numbers before you sign.

Signing doesn't make you the owner. Recording does.

What happens on closing day?

Close of escrow (COE) happens when your lender funds the loan, escrow confirms it has received all the money and the deed records with the county, which happens during standard recording hours. Keys are released only after recording is confirmed. Never before.

Once it records, you'll receive the keys, garage remotes, security codes and any manuals or access information the seller leaves. We'll send your final settlement statement and confirmation of closing. Keep them for your tax records.

What can delay closing?

• Last-minute lender document requests
• Changes in employment or finances
• Missing signatures
• Unfinished repairs
• Delayed wires

We monitor all of these closely. Your part during the final week is straightforward: check your email often, respond quickly to your lender, confirm your signing time early, avoid major purchases (see protecting your loan approval) and schedule your utilities to transfer into your name on your closing date.

Closing isn't the finish line. It's the result of a structured timeline managed well from the day your offer was accepted. When that happens, there are no surprises at the end. Just keys.

---

What Are the Most Common Home Buyer Mistakes?

Most buyer mistakes don't come from a lack of effort. They come from making a big decision under pressure without the right information. Nearly every one traces back to skipping one of the four principles at the top of this guide.

When should you check with us first?

Buying a home is a coordinated process, and small decisions can have large consequences. Always talk with us before you:

• Waive inspection rights
• Remove or waive an appraisal contingency
• Accept a repair resolution
• Send any wire
• Let a contract deadline pass
• Change jobs during escrow
• Make a large purchase before closing

Greater Phoenix Home Buyer FAQs

These are common buyer questions the sections above don't fully answer.

How long does it take to buy a home in Phoenix?

The search itself varies widely, depending on your segment, your criteria and how competitive the market is. Once you're under contract, financed purchases often close in roughly 30 to 45 days, depending on the loan and the terms negotiated in the contract. Cash purchases can close faster. Getting preapproved and clear on your why, where and what before you start tends to shorten the search.

Can you back out of buying a house in Arizona?

Yes, within your contingency periods. The most common are the inspection period, the appraisal contingency, the loan contingency and the review windows for HOA and title documents. If you cancel properly within those windows, your earnest money is generally protected. Outside of them, canceling can put your earnest money at risk. We'll always walk through the consequences with you before you make that decision.

Can you buy a new home and sell your current one at the same time?

Yes, but it takes coordination. The options include selling first, buying first or making your purchase contingent on selling your current home, which can weaken an offer in competitive segments. Timing, financing, the proceeds from your sale and where you'll live in between all need to line up. If you're selling too, our Greater Phoenix Home Seller Guide covers that side of the move.

Should you get a home warranty?

A home warranty is a service contract that covers repair or replacement of certain major systems and appliances, such as plumbing and heating and cooling, with optional coverage for items like pools and spas. It can help with repair costs in your first year, and the seller sometimes agrees to pay for it as part of the contract. It isn't a substitute for a thorough inspection, and coverage varies by plan, so read what's included and excluded.

How are property taxes handled when you buy?

Property taxes are prorated at closing, so you and the seller each pay for the time you own the home. If you have a mortgage, your taxes are usually paid through an impound account, built into your monthly payment, and your lender pays the county on your behalf. If you don't have an impound account, contact your county treasurer to make sure you receive your tax bill, since ownership records can take time to update after a sale.

Can you buy a home in Greater Phoenix if you're relocating from out of state?

Yes. Many buyers relocate here, and much of the process can be handled remotely, including live virtual tours (after a buyer agreement is signed), digital document review and coordinated signing with your escrow company. We'll help you understand the areas, segments and trade-offs before you arrive, so the time you spend here in person is focused.

How The Russo Fadler Group Helps Buyers

The Russo Fadler Group is a Greater Phoenix real estate team at Realty ONE Group, co-owned and led by Lianne Russo Liddell, Associate Broker, REALTOR®, and Jason Fadler, REALTOR®. We represent buyers and sellers throughout the Phoenix metropolitan area, and the approach in this guide is how our whole team works.

What that looks like in practice:

• Fiduciaries first. We put your financial interests ahead of our own, with the loyalty and confidentiality that requires.
• Strategy before every offer. We analyze your segment and the specific home, then build an offer that's competitive without giving up the protections you need.
• Every deadline tracked. Our Critical Date system follows each milestone from acceptance to closing, so you hear from us before every major decision.
• Educators. We explain the reasoning behind every recommendation, so you can make informed decisions rather than take our word for it.
• Your personalized Buyer Strategy Notebook. Our buyers get access to educational resources, local market analysis, transaction guidance and questions designed to help them understand their leverage, risks and next decisions throughout the purchase.

Every purchase is different, and these reflect two clients' experiences. You can read more reviews from buyers and sellers on Google and on our RateMyAgent profile. For an overview of everything we do, see our real estate services.

Ready to Build Your Buying Strategy?

Start with a conversation or start with a search. Either way, the first step is free and there's no obligation.