Home Buyers - Who is your Ally?

HOME BUYERS - WHO IS YOUR ALLY?

Home Buyers - who is your ally?  There are several people that will work with Home Buyers to ensure that all their interests are protected.  Who are they?

•1.     Mortgage Broker / Banker:  This individual will review your financial situation and determine what is the maximum price you can afford to pay for a house.  How do they determine this:  Credit score, assets and outstanding bills.

•2.    Real Estate Agent:  Your REA will assist you in finding the right home within your budget.  She will sit down with you and discover what are your needs and wants.  The area in which you wish to live, schools, etc.  Once that is done, she will provide you with a list of potential properties and after reviewing the list, you will select the ones you wish toview.  When you find the ONE, she will prepare an offer and negotiate the best price and terms on your behalf.  She will also ensure that all the documentation is forwarded to the key people that will be helping you in closing the deal i.e.  mortgage broker, home inspector and lawyer.

•3.    Home Inspector:  Your home inspector will go over the house with a fine tooth comb (visual inspection) and then provide you with a final report.  During the inspection you should be present so that you can be informed about all the details and ask questions as you are going along.  Should any major issues come up, then you REA will contact the Seller's Agent and either renegotiate the price or have the Seller complete the work.  

•4.    Lawyer:  Your lawyer will review the Agreement of Purchase and Sale, search the title, prepare the mortgage documents/transfer and discuss such things as Title Insurance, Adjustments, Land Transfer Tax, etc.  Once all is in place, then the monies will be transferred, documents registered and keys received.  Voila - you are now a home owner.  Congratulations!

Home Buyers these people are your allies.  Select your team carefully and all the best.