Jeff Tessitore moved to Arizona in 1977 and has seen the Metropolitan Phoenix area grow exponentially over the years. Having a passion for real estate, he decided to become a Realtor® after leaving the music business in 1998. With hundreds of homes bought and sold over the years, Jeff takes great pride in providing excellent customer service to his clients. Whether he’s helping buyers purchase their first home or working with seasoned home owners to negotiate the sale of their current home, he’s there to walk them through each step of the process.
There are many aspects to buying a home. My job is to walk you through the process step-by-step. The main steps are:
Lenders - Find a good lender. Unless you are paying cash, finding a lender is your most important step in becoming a homeowner. All lenders do a great job of starting a loan, but it’s finishing, and finishing on time, and finishing at the same rate, and finishing with a process that keeps you informed and comfortable the whole time that can make the difference between success and failure, between homeowner and homeless!
If you have a friend or relative that had a good experience with a lender you may want to use them. If not, I have several lenders that I could recommend.
If you don’t have a lender now, and you are ready to make a move it’s never too early to find out what loan amount you can qualify for, what interest rates are available, and what loan programs are available. At this time your loan officer can let you know how much money you need for a down payment and an estimate of what your monthly payment will be. Most of the time a lender can give you this information with a 15 minute interview on the phone. When you find a lender you like they will get all the information they need in order to give you the Pre-Qualification Form used in conjunction with your offer.
It is important that you not make any major purchases before you close escrow on your new home. It could prevent you from qualifying for the loan.
I cannot stress enough how important it is to have a good lender who can get the job done for you with the least amount of hassles.
Locate a Property - It’s the next step in the chain and sometimes daunting. Many times people start their search online. Other times they look at homes magazines you find in grocery stores. Agents use these magazines and classified ads to get Buyers and Sellers to call them and become their clients. It’s such a small percentage of homes that actually get purchased by the Buyer inquiring about a particular advertisement. Many times these homes are already sold or under contract. It’s not necessary to call each agent on every house you see. I have information on all of them. That includes the ones you see while driving through the neighborhood.
When you give me a set of parameters I can sort through the thousands of properties on the market and narrow it down to the ones that meet your needs. So weather your looking for a 3 or 4 bedroom, or a house with a 2 car garage or a play pool, I can sort through to see what homes are available so you don’t waste your time looking for a house that’s not going to work for you. These properties are the most up-to-date. If you have access to e-mail I can send them to you through the mls subscription service or a portal that has access to properties that meet your specifications.
The Offer - After we find a property that you want to write an offer on I’ll show you comparables ( other homes that have sold in that same neighborhood) so you can make a sound decision as to what to offer in the purchase contract. I walk you through the Contract page by page, all ten of them. When you and the Seller have agreed on all the terms and conditions of the purchase contract we have a contract. Your earnest money is delivered to the title company and escrow is opened.
Title Company - or Escrow Company is a third party that handles the paperwork including your loan documents. This is where you will go to sign just before close of escrow.
Inspection Period - The inspection period lasts 10 days from contract acceptance. You have the opportunity during this 10 day period to check the property for anything you may be concerned about. I highly recommend a professional home inspection and termite inspection. If something else is a concern such as lead-base paint, radon, freeways, airports, crime statistics etc., this is the time to have it checked out. Cosmetic items are excluded from inspections.
The inspection can be a stressful part of the home buying process because defects are often found during this time and then we can get into a negotiating process again. I tell my clients after the inspection to ask themselves this question, “Would I purchase this house even if the Seller is unwilling to fix the defects.” What dollar amount of repairs would you be willing to put up with. Don’t let emotions make your decision for you. In real estate it’s not the principal of the thing. What matters is how much do you think the house will appreciate while you own it. Of course if it’s not finically sound to purchase the home due to repairs then it’s time to walk. I don’t want you to think that the inspection period is always bad. If you know this information now, you’ll be prepared to make a sound decision when the time comes. Don’t let emotions make your decision for you.
Home Warranty - It is recommended that you get a home warranty on your new home. Typically it will cost between $400 to $650 depending if there is a pool/spa or appliance warranted. The home warranty can be paid by Buyer or Seller. We can negotiate it in the offer.
Final Walkthrough - The final walkthrough is usually done a day or two before you sign your documents at the title company. It’s your opportunity to make sure the house is in the same condition as when your offer was accepted. If the Seller has agreed to make repairs it is also during this time that you check to see if they have been made. It’s a good idea to to hire the same inspector to make sure the repairs are done in a workman like manner. Don’t expect the Seller to have the house professionally cleaned before you move in. Many sellers find themselves rushing to get out of the house by close of escrow. It’s not uncommon to see a full garbage can and recycler when you take possession.
Recordation - This is when your new home is recorded with the county recorders office. This is when you get your keys and can move in, unless otherwise stated in the contract. If your lender has done their job properly you will be moving into your new home on the date stated in the contract. If your lender fails you could find yourself with a moving truck full of all of your belongings and nowhere to go. Once again I can’t stress enough how important your choice of lenders can be.
The purchase of your next home could be the biggest investment you make. It’s important that you choose a real estate agent who can find you a home that fits your needs.
Feel free to call or email with any questions regarding the purchase of a home.
A buyer's agent doesn’t have to be a rocket scientist to take buyers from house to house until they fall in love with one, but risking your equity when you are selling your property by choosing the wrong agent could cost you thousands of dollars.
More Money Bottom Line
The only reason to use a real estate agent at all, is to end up with more money in you pocket when the whole transaction is over. If your agent can’t demonstrate exactly how that is going to happen, then you have the wrong agent. Most agents don’t understand what their job is. The agent’s job is to negotiate the offer so that you win. So that you end up with more money bottom line, in your pocket, than you could any other way.
Most agents don’t understand the Law of supply and demand. If every buyer in the whole world knew your house was for sale, you would be able to get the highest price. They don’t understand marketing. They don’t understand that somewhere on planet earth there is one buyer willing to pay more for your house than anyone else in the world. This simple concept is the key to marketing. Not understanding it means that your house will be invisible to the best buyers and you will be left with the bargain hunter mentality “for-sale-by-owner” type buyers looking to get a good deal on your property.
They also don’t understand new technologies. The old timers who don’t embrace the new technologies are doing their clients a disservice. Or jumping into a new technology just for technologies sake can expose your property in ways that may have negative and unintended consequences.
I have a marketing plan that virtually guarantees you of two things, one is that your property will sell, and the other is that you will end up with more money in your pocket, bottom line, than you can get any other way.
Stay Firm on Your Price
I have a step by step system. I can show you how to expose your property to the largest possible number of potential buyers. I can show you how to encourage the best buyers to make full price offers. I can show you how to remain firm on your price, bring a buyer who offers less back up to full price with the least risk of losing them. I can show you how a common sense approach to marketing your property can help you get rich in real estate.
Quality Focused Marketing System
I have worked out a marketing plan for you and it includes securing everything for you that you can possibly expect, everything! Of course that means attracting every single buyer even remotely interested in a property like yours. You will attract the one buyer in the world willing to pay more than anyone else. I walk you through the whole process step by step.
Real estate investing could be the best investment you may ever make. It has been for myself. I have experience with using property management companies and managing my own personal real estate investments. I have also participated in 1031 tax deferred exchanges, saving thousands of dollars that otherwise would have gone to the I.R.S.
With any type of investment there is opportunity cost. In other words, when you invest in one thing such as stocks, bonds, mutual funds, or treasury bills, that money is locked up in that one investment. Real estate is one of the few investments that allows you to generate cash flow.
With the tax benefits of real estate it is hard not to get a consistently high return on investment. In fact you can make a 40-60% return on investment.
If you’ve never heard of this before, it’s because most real estate agents don’t even understand the simple concepts of successful real estate investing.
Every investor has a different tax situation and financial goals. My investment philosophy is to buy and hold and reap the rewards in the long term. Other investors want to buy and flip properties. Many times they look for fixer uppers that they can sell immediately after repairs. This is not always the most lucrative way to invest. I can help you by giving you the information to make the proper investment decision.
Why most people do not invest in real estate other than their personal residence? People will say “ I don’t want to deal with tenants calling me at all hours with their problems with the rental.” That could be a problem if you are dealing with managing properties yourself. I recommend hiring a property management company. For a monthly fee they will handle just about everything. They can pay your mortgage for you, collect rents, hire different services to maintain your property as needed, and most importantly approve tenants. They do credit checks and check with past landlords to see what kind of tenants they were in the past. If your willing to put a little effort into it could make you financially independent in a matter of years.
When choosing an agent to assist you in building your real estate empire make sure your agent is willing to do the extra work involved in finding the right properties for you. An anxious agent will just want to sell you a property as quickly as possible and move on to the next client.
My goal is to help you find a property that has a history of appreciation. I will provide you with the necessary information needed to make an informed decision.
Lower Risks and Much Higher Returns
If you are currently a real estate investor, owning land, residential or commercial properties and you would like to find out about dramatically increasing your rate of return without increasing your risk, and with no money out of pocket I can help you to do just that.
Avoid the Most Common Mistake
Maybe you have considered the option of buying a home and turning your current personal residence into a rental property. Generally speaking, this is the most common, financially devastating mistake a potential investor can ever make. I can show you how and why to avoid this mistake.