Anyone can buy a home on their own simply by negotiating an agreement with a seller. Why, though, would you leave your biggest purchase to chance? That’s just asking for trouble either now or in the future. Buying real estate requires professionals who, in most cases, are worth the price of their fees to ensure you find, buy, and legally own the property you want, in the condition you deserve, at the price you can comfortably afford.
Below are the most common professionals you’ll need on your team (in order of when you’ll need them). The one who will quarterback the entire transaction is your real estate agent, so make sure you hire one you vet and love working with. Agents will likely be your best source of referrals for these other professionals too.
Buyer’s Dream Team
|Financial and tax advisors||Financial and tax advisors can help you determine if you can afford a home and what tax implications it will have.|
|Real estate agent||The quarterback of the entire transaction who usually coordinates the rest of the team to ensure they stay on task and on schedule. Real estate agents perform many other duties, most importantly finding you that new home. See post on how to hire the best real estate agent.|
|Mortgage lender||Most of us cannot buy a house with cash and must get a loan from an originator which is most commonly a bank or mortgage broker/company. See the post on where to find the best mortgage lenders. For an introduction to mortgages read this article in our Learning Center.|
|General property inspector||A licensed, general home inspector will document and inspect the major components of the home including structural/foundation, roof, plumbing, heating/air (HVAC) systems. Most can also perform wood destroying insect (termite) inspections and radon gas testing. She may recommend further inspections by specialists if warranted.|
|Specialized inspectors (if needed)||Sometimes further inspections are warranted, such as various engineers (structural/geological) to septic/sewer specialists.|
|Attorney||Most states will require a closing attorney responsible for several tasks which may include a title search (to ensure no one else can claim ownership in the property), coordinating/preparing paperwork, filing the title/deed with the courts, and accounting for money (if also acting as escrow officer). Buyer’s attorneys may also negotiate additional contract terms with the seller’s attorney. Sherri Brewer of Hogan and Brewer, PLLC is a closing attorney conveniently located in downtown Hendersonville, NC.|
|Escrow officer (if not attorney)||A neutral, third party who handles paperwork and, more importantly, funds involved in the transaction.|
|Moving company||Unless you are moving yourself, you will need to schedule a reputable moving company to relocate your stuff. See the post on finding the best moving companies for your type of move.|