Real Estate 101: your Closing Team

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“Buying real estate is a big deal. Sure, real estate purchases are made all of the time but that doesn’t mean that they are easy. In fact, buying real estate is a rather complicated process which involves a lot of different steps that need to be taken to do it well. That’s why the people who are most successful at investing in real estate are those people who have a team of real estate professionals behind them. This team helps with making decisions and dealing with the process of home buying from the ground up. And even if you’re just buying your first home to live in with your budding family, you should put together a real estate team to make the process go smoothly for you.

Here are the key people that you will need on a real estate buying team:

1) Real estate agent.

The real estate agent is the most important person to have on your team and the one that you will want to get settled first. This person will help you with the whole process from finding the home that you want to buy to negotiating the terms of the purchase, answering all of your questions along the way. Make sure that this real estate team member is an experienced person with an interest and enthusiasm for helping you and that he or she is someone that you naturally get along well with since you’ll be spending a significant amount of time together during the real estate purchase. This person is also a great resource for referrals to getting the other members of your team in place.

2) Lender.

Unless you happen to have a pile of cash under your pillow, you are probably going to need a home loan lender to assist you with the real estate purchase. This can be your bank, a bank suggested by your real estate agent or a specialty mortgage lender that you find. You should be assigned to work with a single associate in the lending office. This team member should be someone who is opening to negotiating with you and who wants to work to get you the best loan possible.

3) Appraiser.

You are probably going to want to know what the appraised value is of the home that you are buying. While you’ll be given this information during the real estate transaction, it’s good to have your own team member check it out and give you the inside scoop with your interests in mind. There are certifications and national organizations for real estate appraisers which will help you in finding a good one for your real estate team.

4) Real estate inspector.

Likewise, you might want to have the home checked out by your own real estate inspector. This helps insure that you aren’t buying a home that has problems that aren’t being disclosed to you. You’ll have to pay the real estate inspector out of your own pocket but it can be well worth the cost to have this person on your real estate team.

5) Supportive friends and family.

Buying a home is a big emotional process for some people and it can put a strain on anyone. Having a support network of people that you love you will make working with your professional real estate team even easier.”

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