Who is involved in the process of buying a home?
This is a fantastic question that many buyers ask, whether they have bought a home before or not. So let’s break down who you will likely be in touch with during the buying process.
- Your Real Estate Professional - This individual’s main purpose in the process is to help you negotiate the terms of your purchase, and guide you through making sound real estate decisions from start to finish.
- Your Mortgage Lender - Your lender will help you determine the type and the amount of the loan you qualify for and wish to apply for. They will collect documents from you such as bank statements, pay stubs, tax returns, and more. After you’re under contract, you may speak to your mortgage lender more than any other individual.
- A Property Inspector - This person will come out and spend HOURS inspecting the house you’ve chosen. They will give you an objective report about everything from the plumbing and foundation to the electrical and HVAC systems in the house.
- Contractors if Repairs are Needed - If anything is found during the inspection that is cause for concern, you may end up calling a repairman, a general contractor, or specialized contractors out to give estimates and professional opinions. Your real estate professional can help you identify the reputable people you may want to speak with.
- Appraiser - Typically hired by your mortgage lender, you may or may not ever see or speak to this person. They are valuable however, because they are the person that ensures that the value established in negotiations is a fair and marketable price.
- Insurance Provider - This is a great opportunity to have your auto rates re-examined and develop a relationship with a local insurance provider. You will be required to get insurance on your new home, so check with your Realtor to see who has the best reputation and prices.
- Moving Company - As you get closer to moving time, you may want to call in help with packing and moving. These people may be your best friends :-)
- Closing Attorney - In Georgia, an attorney must be present at the settlement of all real estate transactions. One will be picked when you write your offer. They will order a title search, make sure you are getting clean & equitable title, gather all documents and draft any closing documents such as the deed, provide you with a title insurance policy, and everyone will meet at their office to sign the final documents.
CEO, Realtor, Associate Broker, Free-Spirited Southerner
Keller Williams Realty, Lanier Partners
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