How Many Professionals Are Involved In The Home Buying Process?

Hello and welcome to Houston first time home buyers edition. As a first time home buyer, you may know that you will work with a real estate agent to help you purchase your home. You may also know that you will need to work with a loan officer to help with getting your mortgage loan. But who else is involved in the process when it comes to buying for your first home? The typical transaction may include a total of more than 15 highly trained and licensed professionals consisting of, but not limited to:

1. Your Real Estate Agent/broker - working on your behalf.

2. The seller’s agent working on their behalf.

3. Buyer - you.

4. Builder/Home Seller - selling the home you are buying.

5. Construction Manager- if you are buying a brand new home.

6. New Home Walk Thru Inspector. Oversees the walk thru of your brand new home.

7. Loan Officer - process your mortgage application, run your credit and determine you approval amount.

8. Underwriter - has the final say if your mortgage loan gets approve or denied.

9. Mortgage Lender - The company lending you the money to purchase the home.

10. Home Inspector - assess the condition of the home you’re buying.

11. Appraiser - confirm the value of the home you are buying.

12. Real Estate Attorney - you do have the right to hire an attorney should you choose to.

13. Insurance Agent - the company you choose to issue your new home insurance policy.

14. Title Company - run the title search on the home your are buying to ensure there are no outstanding liens or mortgages against it.

15. Processor - your contact person between you and the underwriter.

16. Escrow Agent - a neutral third-party that holds the funds related to your real estate transaction until both parties have satisfied their contractual obligations and the sale can be closed.

17. Tax Advisor - answer your tax related questions.

18. Notary Closing Agent- ensure you’re completely aware of what you are signing and notarizes the documents by adding their signature, seal and notary commission (license)

19. Contractors - license individuals with the necessary skills to work on your home.

While each transaction is different, and here in Houston, most buyers and sellers does not use an attorney, most will work with at least 10 professionals from the list above. In addition. if you are purchasing a existing home and repairs are needed after the inspection, it may also be necessary to deal with various contractors such as plumbers, electricians, roofers, air condition and heating professionals, foundation, and painters.

So, while buying a home does involves many steps, it also involves many different professionals as well. But not to worry, as long as your are working with a Realtor that is looking out for your best interest and is well informed and very knowledgeable, you will be just fine.

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana