Several people will play roles in the homebuying process. Some of these professionals work on your behalf, some for the seller and some for the lender. Here’s a quick breakdown of the important players you may be working with and what they do.
Setting the budget
An ideal first step when you’ve decided to buy a home is to visit a mortgage broker or banker. This is the person who can help you get financing. She will determine how much you can afford and work with lenders to find the best mortgage to meet your needs.
For what it’s worth
An appraiser typically works on behalf of the lender. He will check out the property and determine its value based on factors including the location and amenities. The lender wants to make sure the home is worth what you’re paying.
On closer inspection
A professional inspector works of behalf of you, the buyer. He will evaluate the home from roof to foundation and provide you with a report on the home’s condition. The goal of an inspection is to find any current or potential problems so you are aware of them before you become the owner.
Don’t cross the line
Some lenders require a current survey before closing on a property, and the cost is often paid by the buyer.
Keep it legal
Representatives from a title company help facilitate the transfer of property between owners and make sure that all of the property’s title information is correct. They research the property to ensure there are no hidden problems that may arise with the transfer of the title to your name.
The lead role
The most important job of all belongs to your Texas Realtor. She is an expert in all aspects of real estate transactions and can help you coordinate the professionals involved in the process. As a Texas Realtor, she has access to resources that help keep you informed and make the best decision for you and your family. And, if you’ve signed a representation agreement, you know that she is working for you and looking out for your best interests.
Visit TexasRealEstate.com for more information about the homebuying process.
For your real estate needs, please contact Waymond Lightfoot (RE/MAX Genesis) at 210-386-5201.