- Professionals involved in buying a home.
- Buying a house is a team effort that goes from real estate agents to credit institutions.
- It is important that the buyer knows the members involved in the property purchase process.
Professionals involved in buying a home. When buying a house or a property, during the process the future buyer comes into contact with a team of several people who work hand in hand with the common goal of achieving the sale.
This team of people is made up of professionals in the areas of real estate, credit institutions, mortgage brokers, inspectors, property owner, among others, who will be in close contact during the process until the business is closed and the sale is made.
1.- Realtor or Real Estate agent
The realtor or Real Estate agent is a professional in this area who is trained and officially subscribed to the National Association of Real Estate Agents (National Association of Realtors for its acronym in English) and approved within the United States, which walks hand in hand with the future buyer from the beginning of the process until the closing of the sale.
This agent is of great help in the process of buying a property because he can help clarify with precision all the concerns of his client. Likewise, it has the necessary resources and contacts so that the result of this process can be processed successfully.
2.- Loan Officer
The loan officer is another of the professionals who plays a fundamental role in the purchase of a home. Under its functions are to provide the future buyer with all the personal financial information necessary for the process.
Another function is to help you get your home loan pre-approved by gathering more financial information by analyzing your customer’s credit report. Although loan officers work
In a close relationship with the client to get approval for the mortgage loan, a plus is that they work with lenders who pay them to determine if you can and will pay the loan.
3.- Mortgage credit institution
The mortgage lender is in charge of providing the money to the future buyer to make the dream of buying a home in the United States possible. This could be a commercial bank, savings and loan institution, credit union, or other type of financial institution.
The final objective of the mortgage lender is to earn money by collecting the interest generated from the mortgage loan, working hand in hand with the loan officer, who is in charge of corroborating the information that the future buyer can and will pay the loan. If the client does not pay the loan installments, the lender has every right to take possession of the property and put it up for sale.
4.- Property seller
The property seller is the one who owns the property that is for sale, on which the future or new owner is exhausting the necessary process to be able to acquire it. The property seller’s goal is to get the best possible deal on the property in a short amount of time.
This seller can be the same owner of the house, a family member, a financial institution, a construction company or housing development company, a government agency, or a person designated for this purpose who is in charge of showing it to potential buyers that be interested in it.
5.- Home inspector
The home inspector is one of the most important roles in the process of buying a house, since he is the professional who will be in charge of physically and in detail inspecting the property or property to be acquired. The inspector will examine the entire construction of the home, from its major systems such as plumbing, electrical systems, to the heating and cooling systems.
Likewise, he must carefully examine all the structural components of the house such as roofs, walls, floors, doors and windows, and then provide a complete report on
the condition of the house. It is very important that this report is in writing and it is recommended that the prospective buyer accompany the inspector when he / she prepares to carry out the inspection so that he can answer any questions about the construction and maintenance of the property.
6.- Housing Appraiser
The home appraiser is the professional who, hired by the lender, is responsible for determining the current value of a property within the market. Your opinion is based on three key factors which are: market value, cost of ownership and income.
The home appraiser will consider the size and general condition of the property and the general condition of the community or neighborhood. This report will be sent to the lender with the information necessary to determine the final price of the property. Filed Under: Professionals involved buying a home.
7.- Insurance Agent
Another of the fundamental professionals in the purchase of a property are the insurance agents, who are in charge of protecting different interests, such as the credit institution, which will need protection against possible risks for the guarantee in order to comply with the loan payment.
Likewise, the future buyer will need protection against possible risks that the new home may present, as well as any other claim that may arise against the client for the ownership of the property, the costs of which will be assumed by the future new owner of the same, who they will be included in the monthly mortgage payments. Filed Under: Professionals involved buying a home.