While buying or selling a home may seem straight forward- your agent, and the cooperating agent. There's several people involved to ensure that a sale or listing goes well, and eventually closes. Here's a list of those you're likely to encounter while buying or selling.

Mortgage Lender

Before you can even start the process of buying a house, you need to involve your bank, or a mortgage lender. You will need to be preapproved prior to looking for a home so you can set a budget and know how much you will be able to spend. Pre-approvals are quick and easy to obtain, but we suggest sitting down with your bank/ mortgage broker to get a comprehensive approval for how much you can spend. There's nothing worse than falling in love with a house and then realizing it's way out of reach. 

Realtor/ Cooperating Realtor

You'll be working with an agent, and so will the other party to a transaction. These folks are here to help you with your buying and selling experience from start to finish, ensuring you know what's going on every step of the way and looking out for your best interests. They will also help you look for homes by contacting other Realtors® for showings, open houses as well as negotiate prices, conditions, and determine how flexible or motivated a seller is. This will make it easier for you to find your ideal home and successfully buy it or sell your existing home. We're definitely here to toot our own horn - we have a fantastic group of knowledgeable agents happy to help you with your buying and selling journey.

Home Inspector

The inspector is trained to evaluate the safety of a house from the electrical wiring to the plumbing to the foundation. They will identify any risks that come with buying the house and any repairs costs that will likely come up in the future so the buyer has a good idea of what they are getting themselves into. The purpose of a home inspector is to make sure the buyer doesn’t get tricked into buying a home that they think is in good condition that actually has several hidden problems. Many offers made on homes are conditional upon inspection for this very reason. 

Home Appraiser

The home appraiser is utilized to identify the worth of a home, and to ensure it is sold a fair price. They will review the home in question, comparing it to others of a similar market value and condition to determine the best price. This process is meant to protect a buyer to ensure they aren't over paying for a home.  The seller also benefits from knowing they aren’t underselling their home. Appraisals may happen after the firm purchase of a home as a requirement from the bank/lender for a mortgage. While you may have purchased a home for $500,000, it may only appraise for $460,000 leaving you to make up the calculated difference which you will need to take into consideration if you are at the top end of your approval budget. Your Realtor will guide you through this possibility, hoping to avoid it by making sure your offer is comparable to other homes, and prevent you from over paying.

Lawyer

Lawyers are an integral part of the real estate transaction. 

From the buying end they will:

• Review the Agreement of Purchase and Sale and all other legal docs
• Ensure there's no claimes listed against the property
• Arrange Title Insurance
• Ensure the title is valid upon closing
• Ensure property taxes are up to date
• Calculate the land transfer tax due upon closing
• Draw up mortgage documents
• Close the transaction ensuring all legal and financial conditions are met
• Exchange documents and keys will the seller's lawyer

From the Seller's Side:

• Review the Agreement of Purchase and Sale and other legal documents before you sign them
• Assist with negotiation of terms and conditions
• Prepare the deed to your home
• Deal and remedy any title issues if/as they occur
• Close the transaction
• Close the transaction ensuring all legal and financial conditions are met
• Exchange documents and keys will the buyer's lawyer

If you have any other questions for us, or would like to chat feel free to email any of our agents or give us a call

519-621-2000