Buying a home is not something you do alone. There are a lot of players that participate in the process.  You will work together with several people who will use their professional expertise to guide you along the way to home ownership.  It might seem a little overwhelming, but once you understand the role each of these individual’s will play, you will realize the benefit of having them on your team.  Are you wondering who these people are?  Here is a “who’s who” list of the professionals you will meet along the path of your home buying journey:

  1. Mortgage Lender - Meeting with a mortgage lender is something you can and should do prior to even starting your home search.  Getting a pre-approval for a mortgage loan is a great way to make yourself stand out to sellers.  Your mortgage lender could be an independent lender, a credit union, or a bank.  Meet with several so you can choose the one that suits you best.  Once you choose, you will work with an individual Mortgage Banker who will be your guide through home loan process.  Your mortgage banker will help you determine how much you can afford to spend and assist you in filling out your loan application.
     
  2. Realtor - Navigating the home buying process will be much easier with an experienced Realtor on your side. A professional Realtor will not only help you find the perfect home, she will also be your advocate throughout the whole process; before, during and after you close on the home.  Take the time to interview several Realtors to find the one whom you feel comfortable with.
     
  3. Home Inspector - Trust me when I say that you don’t want to skip the home inspection. No matter the age of your future home, having it inspected can save you from buying a one that has issues that could cost you a lot of money in the long run.  A Home Inspector is trained to carefully check the home’s structure, electrical, HVAC, plumbing, and roofing among other things in order to provide you with a detailed report on the condition of the home.  This report will have an impact on your decision to continue with the purchase of the home and may help you negotiate for repairs by the current owners before the sale is completed.
     
  4. Appraiser - The home appraiser plays a crucial role in the home buying process.  This is the person who will make sure that you are not overpaying for your new home. He or she will look at the condition of the home and make a comparison to similar home sales in the area to come up with the fair market value. Guidelines for Home Appraisals
     
  5. Title Searcher - A Title Searcher will review public records for your property to make sure there are no issues that will be problematic for the home sale.  The research things like overdue taxes, zoning restrictions or liens against the property that prevent the issue of a clean title on your new home. The title company facilitates the closing on the home and provides the documents involved.  Finally, they will make sure that the new home’s title records are appropriately filed.
     
  6. Insurance Agent - As a home owner, it is required that you have home owner’s insurance when you obtain a mortgage.   This insurance will financially protect you and your home should there be a disaster.  Be sure to do your research prior to submitting your mortgage application so that you can find the best insurance policy for your needs.

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor, Melissa Thompson, and let her help you with all your real estate needs. Give her a call at 901-729-9526 today!