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Buying or selling a home is a monumental transaction, and definitely not one in which you want to go it alone. You cannot be an expert on all matters; therefore, you must assemble an expert team. The recommended team for the task includes the following six professionals: 1.) Your Real Estate Agent
Keep in mind: * A "buyer’s agent" is one that represents you and your interests. A "seller’s agent" is not required, or expected, to keep in confidence anything you tell them about your willingness to pay a higher price. There are also neutral transaction brokers who represent neither party. Whomever you work with, it is important to establish the terms of the relationship from the get go!2.) Your Loan Officer: Selecting the right mortgage requires some shopping around because getting the lowest interest rates can save you thousands of dollars over the life of a loan. Here are some places to start:
Keep in mind:
3.) Your Home Inspector: Consider your home inspector to be an objective fault-finder. The home inspector essentially gives your house a complete physical, reporting on the condition of the structure and systems of the house, such as:
4.) Your Appraiser: An appraiser is a certified or licensed expert who states his or her opinion of the quality of the property and its fair market value, a price range a given property will bring, assuming neither buyer nor seller is under any extreme pressure to buy or sell. Lenders usually choose appraisers from a list of individuals connected with organizations like Appraisal Institute or National Association of Independent Fee Appraisers. Because the appraisers work for the lender, you may also wish to hire your own appraiser for another opinion. The appraiser evaluates a home by:
5.) Your Real Estate Attorney: Having a real estate lawyer on your side can help make sure your interests are faithfully upheld. And the earlier in the process you involve a real estate lawyer (e.g., pre-contract signing), the more value you gain. One of the greatest benefits of using an attorney is that he or she has an ethical obligation to work on behalf of your best interest. Plus, your real estate attorney is versed in real estate law and will either personally perform or make sure all procedures are completed in a timely, professional manner. 6.) Your Surveyor: A surveyor locates and measures the exact lot lines to
make sure they match up with the description on the
deed. Surveying is always wise so that both the buyer
and seller know and agree on what is being
transferred, and to ensure that the lot lines are
unobstructed by things like fences or garages or
sheds. |