There are a lot of moving parts involved with buying a home. Between legal representatives, banks, and appraisers, it can quickly become confusing to keep all of the different involved parties straight. While the process may seem daunting, all of the professionals involved in a home sale are there to help a transaction move along smoothly. Use this guide as a way to understand all of the key players in a real estate transaction.
Your realtor is the person who will be with you through the entire home-buying process. They are trained professionals who will listen to your wants and needs, answer your questions, and advocate for you from your first open house to closing day. Realtors will help you look for homes within your price range, negotiate prices, and deal with everything that happens behind the scenes during a home sale.
Finding and purchasing a home that will meet your needs is a significant and often stressful time. A realtor’s goal is to make this transition as smooth as possible. At the One Team, We are experts in the area, and once we learn what it is that you’re looking for, finding your dream home is simple. Visit our website today to get in contact with an agent who can attend to your every need.
The Mortgage Lender
More often than not, your realtor will be able to provide you with a few good options for a mortgage lender. Unless you have the luxury of paying for a home in cash, you’ll need to find a bank that will loan you the money to buy your dream home. Mortgage lenders work with you to determine what you can afford when putting a down payment on a home and how you’ll pay it back over time. Of course, the lender you work with is up to you, so make sure to meet with a few to ensure you get the best interest rate and offer on a mortgage.
After you close on a home, The mortgage servicer will keep in touch with you to help handle the day-to-day management of your mortgage, such as payment processing, record-keeping, taxes, and insurance.
The Home Inspector
A home inspector is another trained professional whole helps you by evaluating the safety of a house and ensuring you don’t purchase a place with expensive underlying issues that you may not see during a walkthrough. An inspector will provide a detailed report on a home’s structure, electrical, HVAC, plumbing, roofing, and more. An inspector is crucial as they can help you to negotiate repairs or lessen the price you’ll pay on a home.
The Home Appraiser
Not to be confused with the home inspector, this professional helps to ensure you, as the buyer, are paying a fair price for the property. An appraiser will do this by comparing the home to others on the market, conducting a detailed walkthrough, and marking the value of all a home’s amenities. An appraisal also helps a seller know they are getting a good return on investment for their property.
They review the home and compare it to others of similar market value to determine the best price. This process is meant to protect the buyer so they don’t overpay for space and know the appraised value. The seller also benefits from knowing they aren’t underselling their home.
The Title Company
A title company is responsible for conducting a title search and reviewing public records to ensure that the seller is the property’s true owner and is legally allowed to sell you their home. They are responsible for ensuring there aren’t any overdue taxes, zoning restrictions, or liens against a property that would prevent you from obtaining a ‘clean title.’ The title company will facilitate your closing by providing necessary documents, collecting closing costs, and filing your new home’s title records.
Buying a home can get confusing. Contact us today to connect with a realtor who can help you through the process!