Tucson Home Buying Process FAQs

What To Know About The Tucson Home Buying Process 

Answers To The Top FAQs About Buying A Home In Tucson AZ

Tucson Home Buying Process - FAQ'sFAQ #1What is title insurance?

Most people understand “traditional” insurance policies. They protect insureds against future losses.
For example, a car insurance. It protects the driver from future accidents. A health insurance policy will protect an insured from future health problems.
Title insurance is different. It protects insureds against claims for past occurrences.
When “real property” is bought or sold, a record of the transaction is enter into the public archives. Anyway, it should be, but isn’t always.
Other events that may affect the ownership of a property, like liens or levies, are also archived. Again, they should, but aren’t always.
Title insurance protects the buyer of a home and their lender from errors in the records. A title company searches public records to find the errors. And remedy them if possible.
After this search, the underwriter will determine the insurability of the title.
Risks include filing errors, forgeries, or undisclosed heirs, are difficult to identify. This creates the potential for a claim ownership on a property owned by someone else.
Title insurance helps protect the buyer and lender from such an issue.
A loan policy protects the lender’s interest in a property for the amount of the loan balance.
The owner’s policy insures the buyers ownership rights to the property. Even though you’ll pay for this policy only once, your coverage will last as long as you own your home.

FAQ #2 – Who Pays For The Title Insurance Policy?

First off there are 2 title insurance policies. One for the buyer and one for the lender.

The party responsible for paying for each policies varies by state. In Arizona, the buyer pays for the lender policy if they are buying a home with a mortgage.

The amount insured is the amount of the loan the buyer received to buy the home.

The seller pays for the buyers title insurance policy. The amount insured is the price the buyer paid for the home.

The title insurance policy protects the buyer against loss of the property.  A loss may occur due to defects in the title.  Various liens, encumbrances, adverse claims may not have been disclosed before date of policy.

But everything is negotiable when buying a home. At least in Arizona.

And there may be a discount if both title insurance policies come from the same company.

FAQ #3 – What is a wood-destroying organism inspection report?

A wood-destroying organism inspection is called a “Termite Inspection Report” in Tucson.  A Termite Inspection report is a written opinion by a licensed inspector.

The report details any visible signs of termites evident at the time of inspection. But the inspection report does not or guarantee the structure to be free from wood-destroying organisms.

Wood-destroying organisms include subterranean termites, damp wood termites, carpenter ants, wood boring beetles and wood decay fungus.

There are 1,000’s of species of termites in Arizona. The saying is, “it is not if you will get termites, it is when”.

FAQ #4 – What are the hazards of lead-based paint?

Homes and condominiums built before 1978 have lead-based paint.
Lead based paint can create lead dust. Especially on surfaces that can rub together. And lead dust or chips can pose a serious health hazard.
Home buyers have rights to know whether lead is present in the home they are buying. Before signing a contract.
A federal law requires buyers and sellers to receive and read a pamphlet on lead based-paint. The pamphlet presents the hazards of lead-based paint for homes built before 1978.
Homes listed for sale by Multi Listing Services in Arizona require a lead-based paint disclosure if the homes was built on or before 1978.
If you have questions, ask your Realtor for more information.

Tucson Home Buying Process FAQ #5 – What are closing costs?

Closing costs are charges paid when buying or selling of real estate.  For sellers, closing costs are 2% to 3% of the total sales price of a property.  Real Estate commissions paid to an agent are additional costs.

Closing costs include items such as discount points on a loan, escrow fee, documentation fees, pre paid homeowners’ association fees and title insurance premium.

Tucson Home Buying Process FAQ #6 – What is the difference between “pre-qualified” and “pre-approved”?

If a buyer is “pre-qualified” it has been determined, by a loan officer, what price the buyer can afford.  A “pre-qualification” will be based on the down payment, debts and the amount the mortgage company will approve for the mortgage.

Being “pre-qualified” is only a determination of probable credit.

When “pre-approved”, the buyers credit, employment and funds have been approved by the lender.

FAQ #7 – What should a home inspection include?

Every home inspection should include, but not be limited to, an evaluation of the following:

  • Foundations
  • Roof
  • Heating and air conditioning systems
  • Ventilation
  • Common areas (for condominiums)
  • Septic tanks, wells or sewer lines
  • Insulation
  • Plumbing and electrical systems
  • Ceiling, walls and floors
  • Doors
  • Hazardous materials concerns

FAQ #8 – What property details are usually included by Listing Services?

Usually, properties listed will include the following details:

  • Location
  • Photograph
  • Price
  • Utilities
  • Amenities
  • Annual property tax
  • Current financing (when assumable)
  • Listing company

FAQ #9 – What is included in the Purchase and Sales Agreement

  • Agency Disclosure
  • Financing Addendum/Clause
  • Earnest Money Receipt
  • Inspection/Clause
  • Conditions/Disclosures Addendum
  • Contingency
  • Addendum Outlining Special Conditions
  • Lead-Base Paint Notification
  • Property Disclosure Form (completed by Sellers)

FAQ #10 – What does the designation – REALTOR®  – mean?

REALTOR® identifies real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.

Not every real estate agent is a REALTOR®. A REALTOR®may be an appraiser, property manager or involved in some other aspect of the real estate business.

Considering A Home In Tucson, AZ?

Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.

We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor duo, we invest the time to understand your home buying interests and desires. At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.

Why? We want you to know what to expect. And what to plan for.

Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.

For us, you are not another real estate transaction. You are a client and, future friend. We strive to create a relationship that continues long after you move into your home.

Our goal is to provide insight, advice and the highest level of professional services to you. We want you to be proud to recommend us to your family, friends and acquaintances.

Review our profiles. Check out our backgrounds, education, and certifications.

We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services. We will also help you get deals on tile and paint to make the home you buy yours. Our professional service backgrounds mean we put you first!

Selling Your Home In The Greater Tucson Area?

Selling a home requires more than listing it in the Tucson MLS system. It’s about marketing. Marketing through multiple online channels.

To no one’s surprise, 80% of home buyers start their search on the internet. Homes must be visible on multiple internet channels. The more visible a home is, the faster it will sell.

And the photos on the Tucson MLS makes a difference. You can spend lots of money on home staging. But if that effort isn’t correctly shown in the MLS photos, you are not getting the full benefit.

We use multiple online marketing channels to showcase your home. We will build a stand-alone website built to show your home. Our marketing program targets key cities in the U. S. based on the season.

For luxury listings, our drone service provides video of your home and neighborhood. This video along with professional photos helps the online buyer see and feel your home. Their “new” home.

To learn more about how we can help you sell your Tucson home, call us – 520-940-4541 – to arrange a meeting. We will visit your home and prepare a comparative market analysis.

Then we will meet with you to review our analysis. We will go over our Comparative Market Analysis for your home in detail. And the review our marketing program to “get your home sold!”


Thank you for visiting www.premiertucsonhomes.com! It’s one of the top real estate websites in Tucson. Our clients tell us that.

Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541.

We are ready to answer your questions and help you get the information you are looking for.

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