TNG Explains: The 6 Professionals You Want on Your Homebuying Team

Whether or not you’ve purchased a home before, you’re probably aware of the long list of steps needed to go through the homebuying process. You want to find the right professionals to make sure your process is as smooth and stress-free as possible. From finding the right home to closing the deal, you’re going to need a team of service providers to help you get over the finish line. Let’s look at 6 real estate professionals you will want on your side. 

1. Real Estate Agent 

Perhaps the most obvious choice on this list, an experienced real estate agent who knows your local market can go a long way towards making your homebuying journey a less stressful one. Buying a new home can be overwhelming, but a good agent will guide you with sound advice – even after the offer has been accepted. From finding the right home to negotiating the offer, your real estate agent is there to make your homebuying experience as smooth as possible.  

2. Mortgage Broker 

Like real estate agents, mortgage brokers can be an important piece of the puzzle working in your best interest. When it comes time to determine how to finance your home, and with which lending institution, it pays to rely on the advice of an expert. Brokers will help you find the best options for your mortgage and help make sure the financial side of your homebuying process works for you. They will look at all angles of your financial situation and find solutions that may not be available on your own. While a mortgage calculator is a great way to get an estimate for your potential mortgage payment, a mortgage broker will let you know exactly how much you can afford and the loan amount you qualify for, not to mention help you secure the best available rate. While their focus is the mortgage, some brokers will be able to help you at other points in your homebuying process. 

3. Home Inspector  

Many people are unsure whether a home inspection is something they need, and while it’s ultimately your decision, we believe that the (comparatively small) fee is worth it to protect the large investment of a home. You’ll want to protect yourself as much as possible by having trusted professional help to identify any existing or potential issues that can be found in a home inspection. Home inspectors are trained professionals that will take a thorough look at the house and structure. They act in your best interest and can end up saving you from significant spending in the long run. If you’ve included the home inspection as a condition on your offer, you may even have more negotiating power than before.  

4. Insurance Broker 

To ensure your investment is protected, your insurance broker helps you find the ideal policy for your property while comparing competitive rates. Property insurance provides a safety net to cover the replacement cost of your home and avoid risks as a result of liability. Insurance can seem like a daunting item on your to-do list, but an expert can make this process as straightforward as possible.  

4. Real Estate Appraiser 

While not a service provider that homebuyers order themselves, a real estate appraiser is a necessary part of the homebuying process. They are the unbiased professionals who provide an evaluation of a home’s value. An appraisal done by a licensed professional is required by lenders before issuing a  
mortgage. Factors like the size of the home, quality, condition, and presence or absence of key features impact the home’s value. Your mortgage broker will handle the entire appraisal process and is not an extra step on your already long to-do list.  

5. Real Estate Lawyer 

You’ve made it through the mortgage application process, and you now have a closing date (the day when ownership of the property is officially transferred to you). The home closing process requires a real estate lawyer to review and compile all the necessary documents. Your lawyer will make sure that, come the closing date, everything is in order to ensure you are taking clear and legal ownership of your new home. They will thoroughly examine the Purchase and Sale Agreement, ensure there are no claims or outstanding payments against the property, calculate land transfer tax, prepare closing documents, and much more, before ultimately being the one to hand you the keys to the house. 

With this list of vetted real estate professionals, you are now ready to start putting your homebuying dream team together. 
 

This article is for informational purposes only and is not financial or legal advice nor a substitute for legal counsel.