The Home Buying Process: Step-by-Step

Get Pre-Qualified with a Local Lender

Before looking at homes, you need to know exactly what you can afford. Getting pre-qualified (or better yet, pre-approved) by a reputable local lender gives you a clear budget, locks in your interest rate options, and shows sellers you are a serious, qualified buyer when it's time to make an offer.

Select a Local Realtor

Your Realtor is your advocate, negotiator, and guide. Choose a local expert who understands the Phoenix Metro market, has a proven track record, and communicates clearly. A great Realtor will save you time, money, and stress throughout the entire transaction.

Buyer Broker Exclusive Employment Agreement

This agreement formalizes the relationship between you and your Realtor. It clearly outlines the duties your agent owes to you (such as loyalty, confidentiality, and full disclosure), explains how the agent is compensated, and ensures you have dedicated, professional representation working exclusively in your best interest.

Searching for Homes

With your budget set and your agent ready, the fun begins. We'll set up customized MLS alerts tailored to your criteria (location, size, price, amenities). You'll receive real-time updates when new properties hit the market that match your exact needs.

Scheduling Showing Appointments & Open Houses

We will coordinate private showings for the homes that catch your eye. Private showings allow you to take your time and ask detailed questions. You can also visit open houses, but be sure to let the hosting agent know you are already represented by Clearly Sold.

Making an Offer

When you find "the one," we will analyze recent comparable sales to determine a fair offer price. We'll draft a strategic purchase contract, including your offered price, earnest money, closing date, and necessary contingencies to protect your interests.

Contract Accepted

Once both parties agree to the terms and sign, you are officially under contract (in escrow). You will deposit your earnest money with the title company, and the timeline for your inspections and loan processing begins.

Inspections & Due Diligence Period

Typically lasting 10 days, this is your opportunity to thoroughly investigate the property. You'll hire a licensed home inspector to check the roof, HVAC, plumbing, electrical, and overall condition. You can also review neighborhood conditions, school districts, and HOA rules during this time.

Negotiating Repairs or Credits

If the inspection reveals significant issues, we can submit a Buyer's Inspection Notice and Seller's Response (BINSR). We can ask the seller to complete specific repairs before closing, provide a monetary credit towards your closing costs, or, if the issues are too severe, you have the right to cancel the contract and retain your earnest money.

Home Warranty

A home warranty provides peace of mind by covering the repair or replacement of major systems and appliances for the first year of homeownership. Often, we can negotiate for the seller to pay for this policy as part of the purchase contract.

Loan Process Do's and Don'ts

The Appraisal Process

Your lender will order an independent appraisal to ensure the home is worth the purchase price. If the home appraises at or above the purchase price, the loan proceeds. If it appraises low, we can renegotiate the price with the seller, you can pay the difference, or you can cancel the contract.