When you are getting ready to buy a home, it is important to make sure you have the right people who can get the job done ready, willing, and able to work seamlessly on your behalf. It isn’t enough to just have me by your side (although I will be more than happy to help you assemble this team when you are getting ready to buy!). Here are the other team members you should get on your team as soon as possible:
Lender – Getting pre-approved with a lender is one of the most important steps you can take to prepare to buy. The lender you choose should have a reputation for being a problem-solver and for getting the transaction to close. Pre-approval is a must before we start searching. We need to know your price range and we will need a pre-approval letter to send in with the offer.
Appraiser – Although the appraiser will be assigned by the lender, doing a great job of choosing your lender is a good indicator of the strength of the appraiser in terms of getting the job done in a timely manner and utilizing great local data to make sure your investment is a sound one.
Inspector – You are able to choose the inspector who will be conducting the inspection on your home. You want to find someone who is thorough, provides you with a written report and photos, charges market rate, and who can be scheduled within a few days of your offer.
Escrow – Escrow makes sure that all the documentation is correct, timelines are met, and all the details are adhered to in the transaction. They will also make sure all parties sign the correct forms and that all monies are distributed correctly.
Title – Title will review the property history, verify legal description matches what is being sold, make sure the seller has the right to sell the property, identify other possible lien holders, identify easements, codes, covenants and restrictions, and more. You want to make sure the title company has a reputation for identifying all potential problems.
The more of your home buying team you can secure up front, the better. Often, once you make an offer, things can get fast and furious in a hurry. During the transaction is not when you want to be checking online reviews of an inspector and hoping for the best. Do your vetting up front.