Finding Your Team
Having the right people by your side will help make your homebuying experience more enjoyable and less stressful.
Who you select matters
The success of your homebuying journey largely depends on the company you keep. As you set out to find the right home for your family, be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.
How do you find reputable, experienced team members with whom you feel emotionally and financially comfortable? Start by asking your colleagues, friends and family for referrals. It’s important to choose the right team members for you — professionals you can trust and provide the knowledge and services you need.
These primary people will make up your initial team:
Realtor® – Housing consultant
A Realtor housing consultant can help you prepare for homeownership and help ensure your financial readiness. They’re not required but are often recommended for first-time homebuyers. Your real estate agent will be your “wingman. They can help you and educate you on the homebuying process, time line periods, location needs, inspector recommendations, mortgage lender recommendations, closing attorneys, home warranty, helpful websites, etc. They can also provide information on neighborhoods, schools, property tax rates and more.
Realtors might not know everything, but they make it their mission to know just about everyone who can possibly help in the process of buying or selling a home. Mortgage brokers, real estate attorneys, home inspectors, home stagers, interior designers—the list goes on—and they’re all in your Realtor’s network. Use them. Don’t you want a savvy and professional negotiator on your side to seal the best deal for you?
Buying or selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A Realtor will help draw up a purchase agreement that allows enough time for inspections, contingencies, and anything else that’s crucial to your particular needs.
Realtors have access to even more listings. Sometimes properties are available but not actively advertised. A Realtor can help you find those hidden gems. Plus, a good local Realtor is going to know the search area way better than you ever could.
Realtors have the expertise to help you prepare a killer deal—while avoiding delays or costly mistakes.
Realtor, who is a licensed real estate salesperson who belongs to the National Association of Realtors®, the largest trade group in the country.
What difference does it make? Realtors are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics.
Your lender is responsible for helping you secure the best financing option for your situation. They’ll educate you on different mortgage options, rates, points and general mortgage terms that may be unfamiliar to you. A local lender can help you with downpayment assistance programs that may be available to you as the market is constantly changing.
They can tell you the total loan costs, the Annual Percentage Rate and the Total Interest Percentage offered by the lender.
Once they have discussed your financial situation with them, they will provide you with a pre-approval letter or an approval letter thatprovides you with your financial backing status. You will need this to go with your purchase offer on a home. Another reason we like local lenders.
Yes, it does matter which lender you use. A mortgage is probably the most significant financial commitment that you will make in your lifetime, and not taking the time time to find a local lender with terms that suit your financial situation can have far-reaching consequences.
Once you find your home, your lender will help you understand all costs and terms of the loan as well as the necessary mortgage documents before signing. They will also prepare all the documents and provide them to your closing attorney.
Local lenders are recommended as they can contact all parties involved easier, which makes closings simpler. Communication is the key to the loan approval and closing process. If there is a problem or complication, they can work it out easier for you.
Online lenders and online bank lenders can be cumbersome and slow with back and forth communications as their underwritting and financing departments are in different states. They sometimes are working hundreds of mortgages at at time nationally.
After you have secured finding your team, your team can help you with other team partners that you will need along the way to a sucessful, smooth closing.
If you want to get started in the process contact The Wagner Team, we can answer any of your questions. We will be happy to. “A Higher Standard of Real Estate”
Understanding Closing Documents