5 People You Need When Home Buying
Since I’ve included 5 tips for first time homeowners in today’s Your Financial Fitness… I also wanted to share with you the 5 Financial Professionals you need to use to make your home buying experience smoother, and to avoid any last minute deal-killers.
First, you need to have a good real estate agent, better known as a Realtor. A good one will help you find the right home, give you the market price (or “comps”) and will help negotiate the deal for you.
Secondly, you will need a good loan officer or mortgage broker. Just be very careful when selecting one, because the reputable ones will get you a loan that fits your financial situation, and not the loan that makes them the most commission.
Next you will need an escrow agent. Their responsibility is to be a neutral and trusted third party to coordinate the transaction between you the buyer, the seller, the bank and any other party associated with the deal.
You will also need an insurance agent who can help you with getting the appropriate homeowners insurance coverage needed to protect your new home.
Finally you should absolutely have a trusted home inspector. This service will cost you a few hundred dollars, but a good inspector will catch potential problems that could cost you thousands later.