The first person we think of when buying or selling our homes is our realtor. Your realtor is an integral part of the process, but did you know there are several other professionals involved in the transaction? We want to highlight some of those relationships so that you know who you will be working with on your real estate journey.
Your Mortgage Lender
Before you start your home-buying process, and before you even choose your agent, it is wise to meet with a mortgage lender. Your mortgage lender is the person who will help you discover how much money you can get in a loan, what type of loan you should get, how much home you can afford, and how much your monthly mortgage payment will cost. This relationship is vital to the success of your transaction. They will work alongside you from those moments in the beginning when you are just dreaming of being a homeowner until the keys are in your hand. They are part of the team of people who you can rely on to ask questions and gain a little clarity in the process. It is essential to do your research, grab referrals from people you trust, and shop around. If you are not sure who to work with as your mortgage lender, ask your real estate agent. They will likely have a list of trusted partners they’ve worked with and be able to match you up with someone who will make the process easy and fun for you.
The Home Inspector
Once you have your loan approved and your agent negotiates a fantastic deal, you will need to get a home inspector. In California, you have seventeen days after escrow starts to decide whether or not you want to move forward with buying the home without any financial penalty. So, it is essential to move swiftly. You will want to have a trusted home inspector come and check out your new purchase as soon as possible. They will be able to flag anything you should be concerned about and give you advice on cost so that you can begin negotiating any credits to your closing costs, repairs, or coordinating specialized inspectors to come in and take a look. A general home inspection can last anywhere from two to four hours or more, depending on the size of your home how thorough your inspector is. The inspector will be there to answer any questions you may have, so we recommend you attend and learn everything about your home that you can in that time-frame.
The Title Company
Finally, your title company will be there to offer a wealth of information to you. The title company in a real estate transaction is there to ensure that the title on the property is in good standing and to provide title insurance to you. Believe it or not, some people attempt to sell homes that are partially or wholly owned by someone else, causing legal headaches and the potential for someone else to claim the home as theirs once you buy it. The title company does a title search and makes sure that the person claiming that the property is theirs to sell is correct. The title company also often holds the funds for you. So, this is where you will turn in any closing costs, and have your money distributed from. It is essential to trust your title company, just like all of the other relationships in this list. So, ask your mortgage lender and real estate agent for referrals and work with the company you trust.
A home-buying transaction is complicated, and it is crucial to make sure that you have a team that is on your side. We are specialized as San Diego Realtors and have pulled together the best team of well-rounded people, from your mortgage lender to construction crews, to help you get through this purchase with ease. So, if you would like help buying your next home, contact us!
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