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Preparations must be taken before finding a home to buy. First a team of professionals needs to be put in place. Your team will help you from the moment you decide to buy a home through closing. It is important find advisors you trust so you can feel secure that your best interests are being kept.

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MORTGAGE LENDER OR BROKER

If you don’t have the capital to purchase your home with cash you will need to take a mortgage loan.

Before beginning your home search find a lender who you can trust. Your lender will look at your current finances and financial history to determine how much of a loan the bank can provide to you.

Your lender will provide you with a pre-approval letter which states how much you will be able to afford. With that letter you will know what your price range is when you start shopping for a home.

REAL ESTATE AGENT

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Your real estate agent will guide you through the steps of homeownership. A good agent will have lists of professionals who can help you through the process. Your agent will be able to teach you about the community, prices in the area, and help you negotiate a contract on the home you choose.

Once a contract is agreed on your agent will manage the steps to closing the deal. The real estate agent will be the central contact making sure the lender and attorney get everything they need in a timely manner. Your agent can help schedule the inspection,  meet the appraiser, and should be at the closing ready to handle any last minute details.

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ATTORNEY

It is important to understand the documentation and agreements that are made in a real estate transaction. Your attorney can help interpret the terms of the contract and will ensure your best interests are protected.

From the time the buyer and seller agree on terms of the sale the transaction is put in attorney review. This is the time when the home is inspected and the loan is secured. If anything unexpected comes up and the terms of the agreement need to be changed your attorney will see this through.

HOME INSPECTOR

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After examining the home your inspector will provide you with a written report about the condition of the home.

Your home inspector will be able to show you how the utilities work in the home and advise on whether any immediate maintenance needs to be done and what may need to be done in the foreseeable future. Sometimes they find things that the current homeowner was unaware of. These can lead to changes in the purchase contract.

Cover Image The Home Buying Process: From Dream to Home

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