Your Home Buying Team
1.) Your Realtor
Successful purchase starts with the right representative. In fact, once you’ve selected the best agent to represent you, it is likely that he or she can recommend other professionals to join your team, taking more of the responsibility off of your shoulders.
2.) Lender
Your lender could be a bank or a mortgage broker. Having the right lender is extremely important – we're talking about your money after all! Make sure that your lender and financial representative is someone with whom you feel comfortable. Be wary of any lender who promises you more than you think you can reasonably afford. Your lenders will probably require an independent appraisal, and typically will make arrangements for the appraisal themselves.
3.) Appraiser
An appraiser is someone that is typically hired by the lender. The appraiser will visit the home you are looking to buy and come up with a value for that property. This is usually required by the lender to make sure that they are lending the appropriate amount (value) on the home.
4.) Lawyer
Your home purchase is an important transaction and in many cases you may want legal representation. You will not want to leave yourself open to the risk of costly future issues. If you require a lawyer find one who is willing to take the time to answer your questions and who specializes in real estate law. 5.) Home Inspector 
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that ‘surprise’ down the road. Ask your agent for a recommendation. 6.) Contractor
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some markets, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and you contractor will appreciate the advance notice. |
1.) Find the right representative
Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments and properties not yet on the market. Speak to your Buyer's Agent first. He or she can help properly guide you right from the start.
2.) Find out what your price range is
Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval. Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating). 3.) Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research. Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you listings that may interest you (or at least give you a better idea of what your needs and wants are). 4.) Find out what your true needs and wants are
Put together your own personal needs/wants list. Then review it with your Buyer's Agent. Take into consideration your local market conditions and of course your price range. The advice of your Buyer's Agent will be invaluable here. 5.) Find your dream home! 
Once you’re ready to move, you may be surprised by how quickly you can make a decision. Armed with your lender's pre-approval, a little market knowledge, and your needs/wants list, call your Buyer's Agent and hit the pavement. At first you may just eliminate what you don't want. But, when you see ‘the house’, put in an offer!
With the right team behind you, it really can be that easy! |