Who Do I Need When I’m Buying A House?

Purchasing a house is quite possible the largest investment you will make in your lifetime, and it is also the place you and your family will call home for many years. For these two reasons, you should not take buying a home lightly.

There are many parts to the home buying process, each with their own timelines, documents, and responsibilities that need care and attention. For one person, especially someone inexperienced, this would be incredibly daunting and difficult to handle. However if you have the right teammates, the largest transaction of your life should go off without a hitch.

But who do you need when you’re buying a house? Keep reading below to find out who you need on your team to make buying a house a breeze.

A Real Estate Agent

Home buyers are often hesitant to hire real estate agents because they believe it will cost more money than it is worth, however, having someone who has the experience of numerous home buying and selling transactions under their belt is invaluable.

They know what to expect, what to look for, and when things may be fishy.

Some of the tasks they will be of help with are: finding a home within your specific criteria, providing insight on market trends and potential for property value increases or decreases, negotiating purchase contracts, keeping up with due-diligence and important timelines, and most importantly, estimating the fair market value of the properties you are considering.

A Mortgage Specialist

Your mortgage specialist will be with you from start to finish. They will determine how large of a mortgage you qualify for, and will determine, based on all other financial responsibilities in your life, what your best payment options are.

They will give you advice on types of mortgages, payback options, the current interest rates, and more.They will also follow through on the stacks of paperwork required for such a large financial commitment.

A Home Inspector

Buying a house without having it inspected is risky (and just a really bad idea).There are many things that could be wrong with a house that are not visible during a simple walk-through of the home.

Having a home inspection done before closing can save you an immense amount of trouble, stress, time, and money further down the line if you purchase the home and discover issues (whether major or minor) afterwards.

A Lawyer

The transaction of purchasing or selling real estate involves a lot of paperwork, a lot of money, and a strict, legally binding contract.

These contracts can be daunting, as they are long and contain a lot of legal terms and clauses that the average person may not understand. Having a lawyer to assist you in going through the contract before signing can ensure that you have a proper understanding of the terms you are agreeing to.

An Accountant

Buying real estate will have numerous effects on your finances, especially on your income taxes come April.

It is a good idea to discuss the purchase with a trusted accountant before hand. They can give you insight on any tax breaks or implications this purchase may have on you in the current tax year and years to come, as to avoid any potentially difficult surprises.

It’s Home Buying Time

Once you have your dream home-buying team at the ready, making this purchase should be easy, stress free, and enjoyable.

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