Buyer's Complete Process Checklist
This is the sequence I walk every buyer through. Not every step applies to every situation, but knowing the full arc before you start helps you move through it with confidence rather than constantly reacting to whatever the process throws at you next.
Financial Preparation and Pre-Approval
Pull your credit reports and review them for errors. Calculate your monthly budget including estimated housing costs: mortgage payment, property taxes, HOA fees, insurance, and maintenance. Identify your sources of funds for down payment and closing costs. Research and contact two to three lenders. Gather documents: two years of tax returns or W-2s, recent pay stubs, bank statements. Complete a full pre-approval (not just pre-qualification) before you begin touring homes.
If you are exploring down payment assistance, identify which Arizona programs you may qualify for and find a participating lender. Confirm your pre-approval letter specifies the loan program and the verified amount. Get your agent lined up before you start viewing homes in earnest.
The Buyer-Broker Agreement: What You Sign Before You Tour
As of August 2024, Arizona requires buyers to sign a written buyer-broker agreement before a licensed agent can show them homes. This is not optional and it is not something buried in the fine print -- it is a requirement that came out of the 2024 NAR settlement changes.
The agreement spells out how your agent is compensated, what services they provide, and the term of the relationship. I review it with every buyer before we sign. You should understand exactly what you are agreeing to, including what happens if a seller does not offer buyer-agent compensation. Nothing about this process should surprise you.
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Home Search and Making an Offer
Define your criteria: location priorities, size requirements, must-have features, and deal-breakers. Tour properties with your buyer's agent. For each home you seriously consider, review comparable sales to understand pricing. When you are ready to offer, discuss price, terms, and contingencies with your agent and write a strong, complete offer.
Submit earnest money to escrow within the contract deadline after your offer is accepted. Review the signed contract with your agent and note every deadline: inspection period end date, BINSR response deadline, appraisal contingency date, loan contingency date, and closing date.
Due Diligence and Inspection Period
Schedule a licensed home inspection immediately after offer acceptance. Add specialty inspections as needed: pool, sewer scope, WDO/termite. Review the SPDS (Seller Property Disclosure Statement) and the HOA resale certificate if applicable. Review the preliminary title report when it arrives from the title company. Pull permit history for the property through Maricopa County or the relevant city.
If the inspection reveals concerns, discuss with your agent what to include in the BINSR. Submit the BINSR before the deadline. Review the seller's response and negotiate if needed. If you are proceeding, confirm in writing to all parties before the inspection period expires.
Financing, Final Steps, and Closing
Respond to all lender document requests immediately -- delays in your response delay the closing. The appraisal will be ordered and completed during this phase. If the appraisal comes in low, work with your agent to resolve it. Do not make any large financial changes: no new credit, no job changes, no large deposits without telling your lender.
Schedule the final walkthrough 24 hours before closing to verify the home's condition and confirm agreed-upon repairs. Confirm your wire instructions by calling the title company directly from a number you independently verified. Sign documents at the title company. Receive keys after the deed records. Change locks on day one.
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Written by
Jon Hegreness
REALTOR / Associate Broker, Howe Realty. AZ License BR540940000. 24 years in Phoenix Valley residential real estate.
I am a full-time Valley associate broker, not a call center. If anything here raised a question about your own move, ask me and you get a straight answer from the person who wrote this, every time.
Common questions
- How long does the homebuying process take start to finish?
- From the day you start seriously preparing to the day you close, plan for two to four months for most buyers. Financial prep can be done in weeks if your documents are in order. Home search duration varies. Once under contract, closing typically takes 30 to 45 days.
- What should I do first -- find an agent or get pre-approved?
- Both should happen before you start touring seriously. In practice, many buyers find an agent first and the agent helps them get connected to lenders. Either order works, but do not start falling in love with homes before you know what you can finance.
- When should I schedule the final walkthrough?
- Typically within 24 to 48 hours before closing. You are verifying the home's condition is unchanged and that agreed repairs were completed. If you find something wrong at the walkthrough, address it before you sign -- not after.
- Is there anything I should do immediately after closing?
- Yes: change all the locks, locate the main water shutoff, circuit breaker panel, and HVAC filters. Transfer utilities into your name on or before closing day. Review any seller-provided manuals or warranty documents. File your homestead exemption with Maricopa County Assessor if the property is your primary residence.
- Do I have to sign anything before I can tour homes now?
- Yes. Arizona implemented rules post-August 2024 requiring a written buyer-broker agreement before showings. I walk every buyer through what it says before we sign. It defines my compensation and your representation -- nothing surprises you later.
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