A Look At The People Involved In Buying A Home

If this is your first time buying a home you may not be aware of who all may be involved in the process. Here's a quick look at what to expect and who you will be dealing with in the home buying process.

Realtor - Naturally, this is the first person you'll be working with unless you go it alone, which is not really advised unless you've got plenty of experience. A great real estate agent is worth their weight in gold. They are with you every step of the way and using their experience can help you avoid potential pitfalls and issues along the way.

The buyer's real estate agent earns their commission when you purchase the new home. The seller's agent earns theirs when the seller sells their home.

Seller - This is the person who is selling the home obviously. In most cases your realtor will be the one in contact with sellers, but you may also come across one as you begin looking. The seller will also be working with their realtor, also known as the buyer's agent, if they have one.

Lender - A bank or mortgage institution that will be lending you the money for your home loan. Most likely you'll be working with a lender in the early going in order to get setup for a pre-approved amount for a mortgage.

Home Appraiser - An appraiser is one who inspects the home to be purchased and gives it an appraised value. They are independent of both the buying and selling agent and they will provide a complete report that gives a true and accurate description of the home's value.

Home Inspector - A home inspector is one from a company that will do an inspection of the home and report any issues both inside and outside the home. The inspector goes through everything from the foundation and structural integrity to electrical, plumbing and every other detail related to the home.

If all of this seems a bit confusing it really isn't. Your realtor will guide you through everything along the way and make things as smooth as possible. First time home loans can often seem overwhelming, but knowing in advance what to expect can make it a little easier.