Build Your Team of Experts before You Start Home Shopping
No matter when you purchase a home or whether this is your first home or your fiftieth, having the right team on your side can make all the difference in the world. If you're buying your fiftieth house, chances are you've found the perfect team and can anticipate every move, because you've been through it many times in the past. For those who have never purchased a home, the right team is imperative and can make your home buying experience a pleasure. Your team consist of several players, so here are some tips on how to find the best team member for each job.
Real Estate Agent
There are two types of real estate agents. The first is the agent that can be an agent for a seller or buyer. The second type is a buyer's agent who works only for buyers and will work exclusively for you to insure there's no conflict of interest. ABR---Accredited Buyer Representative—is trained specifically for that position. There are other important designations and one of them is SRES---Senior Real Estate Specialist. That type of agent works exclusively with people over 50 years of age. Some agents work with specific types of homes, price ranges and neighborhoods.
Find an agent from recommendations by friends, family or business associates. They've walked through the maze with an agent and are either terribly satisfied or they won't give a recommendation. A person who has used the agent can tell you how interested the agent was in spending time to meet their needs, whether they offered good advice along the way and even if they had a nice personality and were easy to work with,
Interview agents before you choose the one you want. No matter how nice the agent is, if your personalities don't jive, it may be a long rough road working with them. Tell them your needs and listen closely to how they can help you. Take notes and choose the best candidate.
Find a Lender
You can start this process on line, familiarizing yourself with the going rates and fees in your area. Look for sites that rate the lender or those that praise or even complain about them. Learn as much about local lenders, without discounting online mortgage potentials. When searching online, be wary of entering personal information indiscriminately. Once you're armed with that information, get referrals from family and friends.
You can stop at the banks and lending institutions to talk to loan officers and get a feel if you're needs fit their perimeters. Many things can affect whether the lender is right for your needs. Your credit score is one of them. If you have an excellent score and the lender works mostly with those having a hard time finding a loan, go to someone else. The same is true in the reverse. Find out if they have special programs for which you qualify. When you find the one you like, start the prequalification process or go directly for preapproval.
Find a Great Home Inspector
Many times people depend on their realtor to recommend an inspector, which is just one method of narrowing the field. However, getting referrals from family and friend also is a good idea. If you have a friend in the building or remodeling industry, ask them who they might choose.
A Real Estate Attorney
You don't need a real estate attorney in every state. The real estate attorney is there to protect your rights and insure all the documents are correct. He'll walk you through all the steps in the entire process. Just like all the other members of the team, referrals play an important role. Check their education and their level of experience. Look for online reviews and then interview the attorney.
The right team makes a huge difference. Take the time to make the best selections and the rest of the process should go far smoother.