We know that you may have some questions as you go through the selling, buying or renting process and have included answers to our most frequently asked questions below.
If you have a question that is not answered here, please give us a call, anytime. Our experienced agents are ready to help.
Team Farnsworth is here to answer your questions
The most important thing you need to do is make sure your home is correctly priced for the market. This includes knowing the comparison prices of properties in the area as well as the recent sales prices of similar properties in the area. Having your home correctly priced, positions it to sell in the shortest amount of time.
The next thing you should do is ensure your home is properly staged. Remove any items that are overly personal to create a welcoming and neutral background a buyer can use to envision their own things in the home. Take the time to complete any DIY or repair projects that need finishing and really give your home some attention to cleaning. Pay attention to the little things that may get easily overlooked in day to day living so that your home is inviting to potential buyers. Also, make sure your home is as neat and clean on the outside as well as on the interior by addressing any gardening that needs to be done.
Your realtor will analyze the homes in the area, verify the sales records for similar properties the past 3-6 months and provide you with a Comparable Market Analysis that contains information that allows you to correctly set your price. They will also keep you informed on changing market conditions, ensuring that you get the best possible price for your home.
The time that your home spends on the market is determined by a number of factors including the price, showing availability, showing condition, and overall market conditions on properties in the neighborhood and adjoining areas. Generally, when your home is priced right, and staged to sell, it will likely sell faster than the average home on the market. Your realtor will proactively place your home’s listing online through associated listing services, to ensure that it quickly gets the best possible exposure. Your Realtor may also have a network of potential buyers who are looking for a home with the features yours has to offer. They will notify their network of your home’s listing to bring additional attention to your home.
In Arizona, our seasonal climate means that many homes sell quickly year-round. We do have distinct seasonal weather that ranges from really hot to not so hot. Our cooler season starts in mid-October and runs through the first of June. This is snowbird season when those who live in frigid climates flock to Arizona for better weather. It starts to get Hot the last weeks of June and stays very warm through September. During the warmer weather, people tend to seek out air conditioning to beat the heat.
Your agent will help you to place your home on the market for the time that best meets your needs while taking advantage of the seasonal needs of buyers who are motivated to move.
Using a Real Estate Agent is not required in order to sell your home, but can put you at a distinct advantage in the selling process. Your Agent will be your advocate in the sales process, beginning with pricing the property competitively through to closing the deal in a timely manner. Your agent will work on your behalf to ensure that you get the best possible price while also ensuring that all documents have been completed correctly and on time. There are over 80 checklist items that your agent will handle for you during the selling process.
There is not a pre-determined commission fee to sell your home. Often the fee is determined by the list price of your home. As a general rule agent commissions range from 5-7% of the sale price and are shared between the broker and agents involved in the transaction. Your Agent will work with you to determine a fair value for their services while getting your home sold at the best possible price.
There are discount real estate vendors who sell at discounted rates and who do not provide the top level of personalized service that your Agent will provide to you. This type of service is often impersonal and leaves much of the responsibility for showing the property and closing the transaction on the seller’s shoulders. The reported savings in commissions could actually cost you more in the lower sales price and lack of negotiation and market knowledge. Experienced Agents provide valuable guidance, transaction support and peace of mind throughout the sales process.
It’s best to make a good first impression, which most likely will start with the photos you use to show your listing. Your agent will arrange for your home to be photographed in preparation for the sale. The photographs should be taken in the best possible light that allows your home’s unique features to be clearly shown. During the sales process, you should aim to remove unnecessary clutter and personal items to give your home a tidy appearance that will appeal to a variety of potential buyers. You may consider deep cleaning closets and storage areas, touching up the paint, and completing any needed maintenance tasks.
In Arizona, there is a legal document called the Seller’s Property Disclosure Statement that all sellers must include as part of their home sale. This document, is required by Arizona law and stipulates the seller to disclose material (important) facts about the property, even if you are not asked by the buyer or a real estate agent. These disclosure obligations remain even if you and the buyer agree that no Seller’s Property Disclosure Statement (“SPDS”) will be provided.
Let us answer your questions about buying a home.
A Buyer’s Agent is a licensed Realtor who represents your best interests as a Buyer in a transaction. A Buyer’s Agent can navigate property listings to help you find the perfect property to meet your needs. They can help you evaluate the best neighborhood, and may even point you to properties that haven’t been publically listed.
Your agent will then negotiate the best deal possible and make sure you are comfortable with the terms of the deal along the way. They will make sure that your closing process stays on track and that all of the essential players are meeting their deadlines to ensure you close on time.
A good buyer’s agent is also very familiar with your new community and can provide direction in making the connections to services you need to start enjoying your new home.
Yes! Your agent will work on your behalf to secure the best possible deal on the home that you love. They will be able to help you accurately see the property’s value and guide you in the decision making process based on your unique needs, A licensed agent is also familiar with the local real estate laws, guidelines and restrictions and can help you navigate your deal to avoid any surprises at closing.
Additionally, agents can help you to connect with their trusted network of advisors, lenders, contractors and more, to ensure that your home is well taken care of into the future.
The fee for a buyer’s agent comes out of the commission already factored in to the list price of the home. The seller pays their agent and a percentage of this fee goes to the buyer’s agent at the close of the transaction. When you work with an experienced buyer’s agent, you get access to their skill, knowledge and negotiation skills without having to do it alone and without adding to the cost of your home.
Buying a home is as much a lifestyle choice as it is an investment in your financial future. When you look at your goals in light of your living situation, you may find that owning a home is as cost effective as renting. In some cases, your mortgage payment may be slightly higher, but you’ll gain tax advantages that you don’t have when renting.
When you own your home, you typically build value in the property over time that can be returned to you in the future, when you decide to sell. When you pay rent, you do not receive a future return because renting is an expense not an investment.
Sometimes, it is easy to get caught up in the home-buying process and fall in love with a home that is priced a bit out of your comfort zone. Ideally buyers should meet with their lender, in the pre-approval process to determine how much house they can afford and look at their options in light of their long-term personal financial goals.
A good rule of thumb is that your monthly housing payment should not exceed 35% of your gross monthly income. You’ll need to also consider how interest rates, property taxes, HOA fees and mortgage insurance will factor in to your monthly payment amount.
When you are pre-approved for a mortgage, you are in the best possible place to negotiate the purchase of your home. Remember to get an actual approval letter from a reputable lender, rather than a “pre-approved” advertisement.
Foreclosure is the legal process by which a lender takes control of a property, evicts the homeowner and sells the home after a homeowner is unable to make full principal and interest payments on his or her mortgage, as stipulated in the mortgage contract.
For buyers, purchasing a foreclosure may be a way to get a great home at a price below the current market. Buyer’s agents will do their homework when facilitating the purchase of a foreclosure to ensure that the home will pass inspection, and meet the lender’s requirements.
A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished.
Short Sales are beneficial to a buyer who is looking for a good price on a home and benefit the seller by helping them out of an unfortunate financial situation. The process may take longer than a typical sales process due to the negotiation of the purchase price and working directly with the Lender. Your Buyer’s agent will navigate the short sale to ensure that you are getting the best price and can close in a reasonable time.
When buying a home, it is important to determine the lifestyle you want to live and then seek out properties that will support you in achieving your goals. You may need to consider commute times, or vicinity to public transportation, schools, shopping, and other amenities when making your decision about where to live.
There are many online tools that can help you determine what neighborhoods have low crime rates, good schools or even a great night life. While Realtors can’t legally give our opinion of the fitness of any neighborhood, we do utilize Google maps, WalkScore and Yelp to give you an idea of the types of communities our properties are located in. Your agent can show you how these tools can help you to qualify the neighborhoods you are considering.
We like to say consider as many homes as it takes to find the home that is right for you. Sometimes the process happens quickly and you know which house to choose immediately. Other times the process of finding the perfect home may take longer than expected. When you work with your trusted buyer’s agent, they can help you narrow down your choices and can manage impending deadlines, such as relocation for a job. Your agent will help you to make the best possible choice in the time frame that is right for you.
Team Farnsworth is here to answer your questions
While specific qualifications vary per property, generally Applicants must have a verifiable monthly income for 2 ½ times the rent, a positive and verifiable rental history, a good credit score and clean background check.
You should be prepared to show proof of income by using current pay stubs, if employed, or by providing other verifiable proof of income, such as a Social Security Statement, if you are not employed.
We verify your previous rental history with your former landlord and also through the credit check process. Be prepared to provide your former landlord’s contact information, along with your rental dates for the previous 7 years.
You have the right to receive notice if the information in your credit report was a determining factor in your application being denied. For specific information regarding Credit Reporting Laws in Arizona, please visit: https://www.azag.gov/consumer/credit where you may also learn how to request a free annual Credit Report.
To qualify as a tenant for one of our properties, all applicants must intend to live in the premises. For this reason, we do not accept co-signers to the lease who will not live in the rental unit.
Farnsworth Realty and Management Company adheres to all fair housing laws including the rules governing acceptance of housing programs. However, individual property owners determine whether they participate in housing programs for their properties.
Once you application is approved, you generally can move in within 2 weeks of the date of approval. Your specific move-in date will be given to you by our Property Manager.
Your upfront costs include the application fee for each adult, which includes a credit and background check, the full first month rent and the full security deposit. You may also incur additional separate fees to turn on your utilities, payable to the individual utility company.
We are here to be of service to you and work to ensure that your maintenance issues get out prompt attention. Emergency issues are addressed within 24 hours. Keep in mind that unless the maintenance is for an emergency, we have to provide you with 2 days notice to enter your premises for repairs.
Please report your maintenance issues in a timely manner, by submitting a request in person, completing the online form, or calling it in to the office at 480-380-9945, to ensure that we can schedule the repair as quickly as possible.
All tenants must inform Property Management in advance of their intended move-out date. If you are currently in a lease, you are required to provide a 60 day written notice. If you are renting month-to-month, you are required to provide a 30 day written notice. You can download the Notice To Vacate Forms Here.
The time table for notices begin on the first day of the month, regardless of the date that you submit it. For example, if you provide your move-out notice on the 20th, your 30 or 60 days would begin on the 1st of the following month. All rents must continue to be paid on time, according to your Rental Agreement.
You can schedule the time to turn in your keys, and any remotes with our management team. You may also schedule a time to do the final inspection/ walk through with them. Following the final inspection, the property management team will access any damages, or maintenance issues that need to be addressed and will return any balance of your deposit to you, within 14 business days.
Please provide our management team with a correct forwarding address in order to return your deposit to you.
We are happy to provide rental references to our tenants. Please provide your new landlord with our contact information and have them send the request in writing, along with your signature granting us permission to communicate your rental history with them. Our email for reference requests is: Leasing @ Farnsworth Realty.com. Our mailing address is 460 S. Greenfield Road Suite 5 Mesa, AZ 85206.
We provide information concerning the timeliness of rental payments, and can answer the question of whether we would rent to the tenant again, without any further information provided.
All rents are payable by their due date and will incur late fees any time the rent is not paid on time. If you are experiencing a problem in paying your rent, please call us as at: 480-380-9945 as soon as you can.