Key Individuals Involved In the House Buying Process
February 22, 2010
Brian wanted very much to purchase a vacation home in one of his favorite skiing areas. He was joined on his home search by a Telluride real estate agent who showed him a number of available Telluride properties before he made his final selection. Brian realized that it takes a number of people working together to successful transact the transfer of a home from the seller to the buyer. While some owners are perfectly comfortable selling their home without an agent, others rely heavily on the expertise and knowledge an agent can provide. Even for those who decide to forgo the services of an agent, they are still dependent on a number of other people to help with the sale of their home. The following is a list of contacts whom you may wish to consult if you are pursuing the purchase of a new home. Utilizing the professionals on this list can help you attend to every necessary detail as you set about making what may be the biggest purchase of your life.
• A licensed agent who specializes in helping buyers will be very advantageous. The benefits of an agent to support you in a home purchase are plentiful. From informing you of available listings, to negotiating price, to helping you understand some of the various paperwork involved in the documentation process, an agent can be very helpful. While this process may be mysterious to a buyer, an agent sees the process occur with each client he or she assists. This experience can be a real plus in case questions or concerns arise. Remember that as a buyer, your realtor fee is usually taken care of by the seller of the house you decide to purchase.
• An appraiser will determine the correct value of the home you are seeking to purchase. This information is valuable for a buyer because it lets you know if you have agreed upon a good deal and it is necessary information for the mortgage process as well. Appraisers make a visual assessment of the home, review facts about the home and analyze comparable sales in the area to help them determine overall value.
• A mortgage broker or loan officer will help you secure the best loan for your buying needs. Securing a loan for the home you wish to purchase is one of the biggest hurdles to cross. A loan officer will look at things such as credit score, debt load, down payment amount, and value of home to determine what rates and terms you may be eligible for.
• A home inspector will meticulously evaluate the home you wish to purchase to make you aware of any potential problems or situations which you should know about. While you may be tempted to skip a home inspection, remember that an inspector will see things you as the buyer can not see.
• An insurance agent is responsible for helping you get adequate homeowners insurance in place prior to your purchase. Homeowners insurance is an essential factor which must be in place in order to finalize a house sale. This insurance is typically paid monthly and can be included in your total mortgage payment.
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