If you are a potential home buyer who is unfamiliar with the industry, it can be overwhelming to know the processes’ inner workings and how it all fits together to take you from the mortgage pre-approval to move-in day at your new house. But, just as with football games, it takes a passionate, competent group of people working together behind the scenes toward a favorable outcome. These people make all the difference because without them, buying a home would be stressful, intimidating, and downright frustrating. Read on to learn who should be on your home buying dream team and how these important players make your home buying experience a positive one.
The 6 People You Need in Your Home Buying Line-Up
The Real Estate Agent
As the person who may hold the key to showing you your dream home, your real estate agent plays a vital role in the process. A knowledgeable buyer’s agent can help you find exactly what you are looking for regarding your new home’s location, features, and price. They can also negotiate on your behalf to ensure you do not overpay for your home and may have the resources to notify you of pocket listings, homes that have not yet been released to the public.
Accountants on your home buying team provide valuable advice on the tax breaks that come from homeownership as well as any associated annual benefits. They can also help you ensure your finances are in optimal health for your monthly and long-term budgeting needs.
The Home Inspector
A home inspection protects buyers by disclosing any existing defects that can cost the buyer in repairs later if not addressed before closing. These discoveries include the home’s structural and mechanical systems. Further, they are a snapshot of the future of your home and what may need to be fixed down the line.
Some people confuse the home inspection with the property appraisal. The inspection reveals the home’s condition, while the appraisal tells you how much the home is worth.
Unless you are a cash buyer, your mortgage lender is an integral part of your home buying team, without whom purchasing a home may not be possible. Your mortgage lender underwrites your home’s purchase and fronts the funds you can pay back over time through your mortgage. The lender should be the first party that you contact when beginning the home buying process. It is imperative to know if you are qualified to buy and, if so, what price range you should be looking in. A qualified, experienced loan originator will also help you customize your financing options to meet your immediate needs as well as your long-term goals.
Once you choose a home to buy, one of the first things you do is submit a purchase and sale contract. As this is a legally binding document, having an attorney on your side who can walk you through it and protect your interests is invaluable. Home purchasing requires understanding complex procedures and documents, including deeds, mortgages, court orders, and wills, and other legal rigmaroles not easily understood by the layperson.
The Title Company
A title company is responsible for verifying that a home’s seller legitimately owns the property they are selling and subsequently guaranteeing that information through title insurance. This insurance protects the lender and owner against financial losses and court defense costs if another party tries to lay a claim on the property later on. In some instances, the title company may also provide the home closing location, as that is where escrow accounts and closing costs are held.
Chris Doering Mortgage Is Your All-Star Team
At Chris Doering Mortgage, our experienced loan originators and processing team are on your side as you allow us to knowledgeably walk you through the home-buying process with passion, competence, and excellence. Buying a home for yourself and your loved ones is a significant milestone, and you should not feel alone or uninformed. Contact us today and let Chris Doering Mortgage be the Most Valuable Player on your home buying dream team!