Buying a home is quite an undertaking – and it involves quite a few people! From realtors to lawyers to mortgage lenders, you’ll be in contact with lots of business professionals throughout the duration of the home buying process.
As a first time homebuyer, understanding the who’s who of the home buying process can be very helpful. Here, we identify the various people that will likely be involved in your process of buying a home and explain each person’s role.
The seller is the person who currently owns the property and has put the home you are considering up for sale.
The buyer’s agent is the realtor that represents your interests in the home buying process. You will work closely with this individual as you search for a home and work through purchase process.
Check out our blog post about choosing the right real estate agent for more details about how to find the buyer’s agent that’s right for you.
The listing agent is the realtor that is facilitating the home sale process and representing the interests of the seller throughout the selling process.
In most circumstances, a home buying contract is contingent on a thorough home inspection by a professional home inspector. This individual will closely review the house you are planning to buy on your behalf, identifying any issues and providing a report.
If you are curious about the property around the house you are purchasing or interested in knowing more about the neighborhood, land or area where you are considering buying a house, you may want to contact the planning and zoning department. These administrators can provide you with details and specifics about the property and the regulations that affect it.
The mortgage lender is the individual, bank or lending institution that will be providing you with the money you need to purchase your home.
A mortgage broker is an individual or organization that helps home buyers to coordinate and secure a mortgage by connecting borrowers with potential lenders. At Maple Tree Funding, this is our role in the mortgage process! We work closely with you to find the home loan that works best for your budget and individual circumstances.
In most cases when purchasing a house, you’ll need to hire a real estate attorney to work on your behalf. This lawyer will review and approve all legal documents and represent you at the closing and, if necessary, during the negotiation process. Keep in mind that the sellers you are working with will likely have a real estate attorney working on their behalf as well.
A home insurance agent is a representative from an insurance company or agency who will work with you to ensure your new home is sufficiently covered by insurance. This financial professional will provide you with a policy to cover and protect your assets.
A home appraiser is an individual trained and certified in assessing the market value of a home. Before you close on your new home, the home will be appraised by a home appraiser to ensure that its value has been appropriately assigned.
The title insurer is the organization that examines the title associated with the property you are purchasing to ensure that the rights to the property can be legally transferred from one homeowner to another. These individuals must closely analyze the history of the property and determine whether or not individuals other than the current owners may have claims to the property.
While this list includes individuals and professionals that are typically involved in home purchases and sales, you may find that even more people are involved your home buying process. Each homebuyer’s experience is unique and each home sale transaction is different.
Interested in learning more about the homebuying process? Check out these other great resources:
How Much do I Need for a Down Payment?
6 Step Guide to the Mortgage Process
Ready to take the first step towards purchasing your first home? Contact Maple Tree Funding today! We can help guide you through every step of the home buying process, answering all of your questions along the way!
Give us a call at 518-782-1202 or contact us online today to get started!