Get to know these four people when buying a home. Assemble your dream team for a winning result.
Whether you’re a first-time homebuyer or getting ready to buy your second or third place, making a move can be exciting. But, it also can be intimidating and a bit overwhelming when you consider the many steps you need to take before picking up your new keys.
Fortunately, it’s a lot easier when you work with professionals who know the ins and outs. So consider reaching out to these four individuals during the home-buying process.
- Real estate broker: You may think looking for potential homes is something you can do on your own. However, first-time buyers and even more experienced buyers can benefit from hiring a real estate professional. They can help you find listings that specifically fit your criteria, including listings that may not be advertised, as well as provide insight into the market. Plus, they can help you negotiate things like price, the date you can take possession and any extras you want included like repairs, furniture and appliances.
- Lawyer or notary: A lawyer or notary may act as an advocate on your behalf throughout the home-buying process. They will help coordinate everything from drafting and negotiating the contract of the sale to examining inspection reports and mortgage documents. Hiring a lawyer or notary early in the home-buying process can save you time and risk.
- Home Inspector: It’s to your benefit to hire a home inspector to look over the home before you buy. A home inspection may cost an average of $450 (may vary by province). But it’s often money well spent, because a home inspector can alert you to issues you may not see on the surface, like problems with the roof, plumbing, electrical, heating or cooling, windows and doors and foundation. Make sure to hire a certified home inspector, ideally with a background in engineering and experience doing home surveys in the area where you are buying.
- Mortgage Specialist: Last, but not least, having a working relationship with a trusted mortgage specialist is essential during the home-buying process. He or she can help review your finances and determine a price range that is realistic for your budget, as well as help you decide what type of mortgage is right for your situation and how much you can afford for a down payment.