It’s a confusing time in the real estate world.  Demand for housing is on the rise, borrowing is more difficult, and buyers are demanding more for their investment.  Now, more than ever,  you’ll need the right team to avoid delays, additional fees and unnecessary headaches.

Your solid team should consist of:

  • Your Real Estate Agent
    Always ask for a referral.  You’ll have a better chance of finding an experienced professional who is knowledgeable about the area  (and whom you like) if you look in your network.
  • Your Real Estate Attorney
    The point of no return. Offers are binding contracts. Involve a real estate attorney before you make your offer.  Later on, you’ll need to get counsel on the Purchase and Sale Agreement and discuss pitfalls and potential issues.
  • Your Home Inspector
    The devil is in the details. Make sure your inspector is thorough or you’ll be sleeping with termites! Check experience and ask for referrals from their customers.
  • Your Lender
    Ask around, and ask the right questions before deciding on a lender. Is the lender consumer-friendly? You’ll want to ask if your lender will automatically refinance if rates decrease.  What is their reputation (ask your friends, realtors, lawyer).  Get a sense of how quickly and efficiently the lender processes loans.  You’d be surprised how many lenders today delay closings, which can increase your costs and put you at risk of losing the deal.
  • Your Insurance Representative 
    Who will cover the mortgage if you can’t? Discuss insurance needs (homeowner, disability, life, etc.) from a local, experienced agent who understands the particular needs of the region in which your buying.
  • Your Estate Planner & Financial Planner
    Protect your assets! Sit down with both estate and financial planners to discuss your legacy. If you have a taxable estate, preparing the right documents can save you thousands.  But it will take a trained eye (and scrutiny over your assets) to find creative ways to grow your nest egg.

Ideally, your team not only knows each other, but actively communicates and gives you cohesive advice when it involves multi-layered decision-making.

For more information on buyers’ expectations and the buying process, refer to our previous installments in this series, or contact us directly at (508) 807-1131 if you have any questions. Follow us @rrpesq for more buyers’ resources.