Unless you’ve been living under a rock, when it comes to buying a home, there is a full cast of characters that you’ll need to keep in mind when making the big decision:
The Real Estate Agent
Aside from serving as a guide and overall liaison for the home-buying experience, the real estate agent is responsible for making sure all of your questions are answered during the process. According the Canadian Real Estate Association, a professional real estate agent should cover the following:
– Help you find the ideal home.
– Write an Offer of Purchase.
– Negotiate on your behalf to help you get the best possible deal.
– Provide you with important information about the community, help you arrange and coordinate a home inspection and essentially save you time, trouble and money.
When choosing an agent, be sure to do your research and ask questions to suit the specific list of needs that you’re looking for in your new home. The more through you are in your selection, the greater the likelihood of securing the home of your dreams.
Lenders or Mortgage Brokers
Unless it’s a situation where you’ve gone through the mortgage pre-qualification process, you’ll definitely need to track down a lender that will help you through the financial process of buying your home.
When it comes to the source of your mortgage loan, you have a lot of options from credit unions and pension funds to banks and insurance companies. Your best bet is to shop around and meet with several different lenders to see which one is the perfect fit.
The Notary
You’ll need a notary (or lawyer) to keep a close eye on the legal aspects of the process. This can include making sure the prospective home and its property are not tied up in any liens, levies or unfinished work orders that may slow the process down to a grinding halt.
And if it’s a situation where you decide to use a lawyer for your legal needs, your best bet it to secure one that is an expert in whatever type of housing you’re trying to purchase whether it’s a condominium or single-family home.
The Appraiser
Have a trained appraiser come in and assess the value of the property before making an offer is essential in determining worth and help to ensure you don’t overpay. When requesting an appraisal, make sure it includes an assessment of the property’s physical and functional characteristics, as well as an analysis of homes sold that are near the same price point and a breakdown of the current housing market.
The Home Inspector
A home inspection is strictly a visual walk through. An inspector’s main job is to inform you of any physical malfunctions or if anything is deemed unsafe and needs to be changed. A good inspector will also give you a rundown of any repairs that need to be made or if there are any problems that may have plagued the property in the past.
The Builder/Contractor
If you’re buying a newly constructed home, hiring a builder will be in your best interest. When it comes to contracting work, the devil is in the details. Make sure that all your specifics have been laid out to the contractor before any work is done.
