Professionals involved in your realestate transaction

Professionals involved in your realestate transaction

 

Who Does What?
 
There are many people involved in a real estate transaction. The primary work will be done by the following professionals:
 
Your Agent – Gives you financial advise/Helps you get preapproved
Alerts you to homes on the market that match your needs
Schedules showings
Writes and negotiates the contract to protect your rights
Helps with inspections
Makes sure everything is done so sale closes on time
Paid by seller
 
Loan officer/mortgage broker – Provides preapproval letter prior to offer
Processes loan application
Secures financing at best rate possible
Provides the loan to complete the sale
Hired by Mortgage Company, paid at closing
Paid by lender
 
Appraiser – Estimates the home’s true market value compared to other sales
Ensures that you haven’t paid too much
Hired by Mortgage Company, paid at closing ($200-400)
 
Home Inspectors (whole house, termite, radon, structural, etc.) Examines the home’s physical condition
Notifies you of all defects as well as potential future problems
Hired by you, paid at time of inspection ($300-600)
 
Title Company – Ensures that home has a “clear Title”
Protects against future title claims that may threaten ownership
Serves as neutral third party to prepare closing paperwork
Ensures that all parties fulfill their obligations
Hired by Mortgage Company, paid at closing ($300-1000)
 

                Preferred Group                                                Last modified: 8/28/17