Who's in My Business (when home buying & selling)

Once you decide to be a homeowner, you will find several professionals are part of the home buying experience. A good Realtor will guide you through the process and help you determine who is working for you and who may not have your best interest in mind. The process should be simple and straight forward, but more often than not something unexpected will happen.Your realtor is responsible for working through these bumps to make the experience as easy as possible for you.

When you understand all the characters that will be in your business you will be better prepared to gather the information they need and understand all the steps that must be taken. Delays can be frustrating, but being prepared you will be less stressed. Here are the characters:

Loan Officer - A professional who will determine approximately how much money you’ll be able to borrow for a mortgage loan.

Mortgage Lender - The financial institution or business person that provides the money you’ll use to purchase your new home.

Mortgage Broker - The organization or individual that brings together mortgage lenders and borrowers.

Loan Servicer - An organization that handles the day-to-day management (i.e., collecting, billing, and record keeping) of your loan.

Real Estate Agents, Brokers & Realtors - Trained professionals who are to negotiate the sale and purchase of real estate.

Home Seller - The property owner who puts a home up for sale.

Home Inspector - An individual who provides a trained, professional opinion of the physical condition of a home and its components and systems.

Home Appraiser - An individual who provides a trained, professional opinion of the market value of a home.

Insurance Agent - A professional who provides protection against the risk of monetary loss.

Title Company - A company that examines public records to determine that rights to a property can legally be transferred from one owner to another.

You may not meet each of these professionals, but they will all be involved in the decision of if you are able to buy your New Dream Home or not. I will be going into more detail in the next few Blogs of each of these characters. See you soon.