For many people, buying a home is the biggest investment they'll ever make, and there’s a lot of pressure to get it right. Assembling your homebuying team is one way to ensure the process is as seamless as possible and that you end up in the perfect home. 

From finding the ideal property to walking away with the keys, you’ll want a reliable group of profe🔥ssionals, each with their own expertise, to help y🀅ou achieve your homebuying dreams.

Who Is on Your Homebuying Team?

The homebuying process can be broken down into three phases: shopping, maki♈ng an offer, and c🎉losing the sale. You will need different experts on your team to assist you at each phase. 

Some of these team members are there to make your life easier, like housing counselors and real estate agents. Others are required under state law. For example, some states require real estate closings to be conducted by an attorney. Other states stipulate that the title must be examined by an attorney prior to closing.

Here's what you need to know about the people who can assist you at every phase of the homebuying process.

When You’re Looking 

Housing Counselor 

Many homebuyers are unaware that the U🍎.S. Department of Housing and Urban Development (HUD) has a across the U.S. that provide l✤ow-cost or free guidance on homebuying.

These counselors specialize in helping clients find, buy, and maintain housing. They are particularly helpful to anyone with past or present financial struggles and🦂 can be invaluable assets for first-time homebuyers.

By reviewing your finances and credit, housing c൲ounselors can help you determine exactly how much house you can comfortably afford. They can also provide budgeting tools and advice to keep your finances healthy as a new homeowner.

Housing counselors charging high fees or not disclosing fees are red flags that you should not ignore. Other red flags include pressure🌜 to purchase a🧜 specific home or in a certain area. 

Real Estate Agent

Your real estate agent is one of the first people you will add to your homebuying teamꦜ and, arguably, one of 𝄹the most important members.

Homebuyers most often find their agents through referrals. If you find your agent this way, you probably care more about their performance than their title—whether they're a real estate agent, broker, or realtor. People often use these titles interchangeably, but each has a distinct meaning and specific qualifications.

• Real estate agents are licensed professionals who help clients buy and sell properties, usually under the supervision of a broker.
• Realtors are real estate agents who applied for and joined the 澳洲幸运5官方开奖结果体彩网:Nat🦄ional Association of Realtors (NAR). NAR realtors must complete code of ethics training and commit to adhering to the code of ethics in their practices.
• Real estate brokers are licensed professionals with additional qualifications who can work independently. Brokers may manage clients, oversee transactions, and employ real estate agents for their brokerage firm.

Whichever real estate professional you choose will be your right han🅺d during the homebuying process. They not only help you find homes that match your budget and preferences and schedule walk-throughs of the homes that pique your interest, but they will also serve as additional eyes, ears, and sometimes noses when checking out houses.

A strong real estate agen𝓡t will have local market knowledge and excell💎ent communication skills. Negotiations are also a key element of any real estate transaction, so prioritize picking a real estate agent with a record of success.

"Commissions are negotiable, but are normal🌳ly 3% of the final sales price,"  said of Mefford Real Estate. He added that as part of the negotiations, many real estate agents make it their "goal to have the seller pay our fee rౠather than you."

Some common red flags with real estate agents are pressure tactics, lack of transparency, or minimal ꦦmarket knowꦕledge. 

Lender (Also Called 📖Loan Broker or Loan Officer)

If you are among the overwhelming majority of Americans who require financing to purchase a home, a lender or loan officer is the team member who can help you find the best loans with the best rates.

Lenders may work at a bank, credit union, online company, or through a private firm. Upon reviewing your financial data, credit history, and earnings, lenders will determine how♊ much you can afford and match you with the right mortgage loan.

Lenders can also provide you with a pre-approval letter. , a loan officer at Armed Forces Bank, recommended getting pre-app♌roved “at least 30 days before you’re serious about starting to look for a home.” This 30-day buffer period allows you to address any cred😼it or financial issues that may arise, as well as lock in your interest rate.

You do not have to have a pre-approval letter to view or make an offer on a home, but having one strengthens your offer, especially when sellers get many offers on their home. The best lenders have competitive rates, clear fee structures, and responsive customer service. Mortgage loans re🦩quire a lot of paperwork, and a highly organized♍ lender is an asset to ensure your documents are all prepared in time.

Lenders earn money primarily through interest, closing costs, and origination fees. ꦬBe wary of any lender that employs high-pressure sales tactics or has hidden fees.

Real Estate Attorney

A real estate attorney is a legal professional specializing in property transaction laws. Although real estate lawyers are not always required to buy a home, they help homebuyers avoid any legal pitfalls rela🥀ted to purchasing a home. First-time homebuyers may particularly benefit from an outside professional reviewing complex legal documents and transactions.

If you choose to add a real estate lawyer to your team, you should start the search for one as soon as you've found a home you'd like to buy. They can help during the negotiation phase of the offer and flag any zoning issues or legal concerns with the title. Attorneys can also help you decipher your mortgage documents in layman's terms, as they can feel like one run-on fine print.

Your expected cost for a lawyer will vary. Some lawyers willꦡ charge by the hour, while others offer a flat fee or a hybrid arrangement. 

When You've Made an Offer

Home Inspector

Once you find a home that gives you butterflies, it's time to add a home inspector to your homebuying team to ensure that your butterflies aren't actually termites.

Buying a house is an expensive endeavor, and it might be tempting to skip the home inspection since most states and mortgage loans do not require them. However, shelling out the cash for an inspection can save the average buyer money in the long run by identifying issues that can be used to drive down the price of the home.

Some states require home inspectors to be licensed through organiz🌞ations like the , the , or the . Todd said that inspection costs depend on the inspections requested and range from about $350 to $1,000. Still, the difference between no inspection and a great home inspector can save you mone💯y, time, and heartache in the long run.

When looking for a home inspector, of Gingrich Home Inspectors recommended looking for a "home inspector who provides exceptional customer service, is availableꦜ to answer any questions that may arise after the inspection, and supports the client and the realtor." 

He added, "The inspector should explain the hows and whys of what was found and offer the client the chance to call them anytime if they have any additional questions. A great inspector explains their findings to their clients in layman's terms and encourages clients to call with questions a few days or a few years later."

Appraiser

The appraiser assesses the current market value of your home to ensure the price you've agreed to pay aligns with its worth. Your lender and your appraiser work hand-in-hand. The lender picks the appraiser through an 澳洲幸运5官方开奖结果体彩网:Appraisal Management Company (AMC) to ensure no undue influence.

Most mortgage companies require an appraisal before letting buyers close on a loan. Appraise🔴rs make their valuations based on structural aspects of the home, size and square footage, lot size, quality of materials, curb appeal, neighborhood, and prices of comparable homes of location, size, age, and condition.

Appraisals combine subjective and objective aspects of valuation, and unfortunately, appraiser biases can sometimes prevent accurate appraisals. While your lender requests your appraiser f🥂rom the AMC, a trustworthy appraiser has state certifications and extensive knowledge about the local market.

Home appraisals cost a few hundred dollars to a thousand dollars based on location, home size, and mortgage type. Buyers bear the appraisal cost.

😼Appraisals are too important to rush. Report to♊ your real estate agent and lender immediately appraisers who appear biased or lack knowledge about the local area. 

Title Officer

Before you arrive at closing day, a title officer from a title company searches to confirm that there are no claims against the property and issues the title insurance to protect you agaꦇinst any future claims on your property. 

You will not pay the title officer directly, but you will pay for the title insurance. The cost of the insurance varies based on the price of your home and the state.

A good title offi🌜cer is experienced with local laws and has great commuওnication skills. There should be no hidden fees for the services they provide. 

When You Close

Escrow Officer

Escrow officers act as neutral third parties to review the contract and ensure that buyers and sellers meet contract terms before closing. They also facilitate the closing and certify that all documents are ꦜsigned and that funds and ownership are transferred. 

The payment of the escrow officers’ fees is generally negotiated ahead of time and outlined in the contract. Buyers and sellers may split the escrow fees, depending on the agreement.

Other People You May Need on Your Team

In addition to the core professionals of 🍃your homebuying process, you might also benefit from adding some others to your dre🦂am team:

• Co-borrower: Co-borrowers are those who apply for the mortgage with you and share in the loan repayment responsibility.
• Mortgage broker: 澳洲幸运5官方开奖结果体彩网:Mortgage brokers work as matchmakers alongside borrowers and mortgage companies. These professionals don't directly lend money, but they work with you to find the best loan for your circumstance. Mortgage brokers can also facilitate collecting and validating the mortgage paperwork.
• Financial Advisor: Financial advisors can help you see the big picture of how a home purchase fits into your overall goals.
• Accountant: Accountants can use their expert knowledge of tax law to explain any tax implications of buying a home. They can also review your mortgage documents and show you how the structure of your loan can impact your finances in the future.
• Insurance agent: Most mortgages require borrowers to insure the home before they get the keys. As long as you meet the minimum requirements your mortgage company outlines, you can pick your agent and own policy details. The insurance agent on your team is responsible for insuring your most significant asset against loss and damage at a price you can afford. Some buyers choose to go with the same company they have auto insurance, and some branch out.
• Trusted friends or family members: Fifty-nine percent of homebuyers say purchasing a house is more stressful than dating. If you wouldn't go on a date without checking with your friends to get their opinions, it makes sense that you wouldn't want to buy a house without their support. 

Tips for Finding the Right Team

Finding the right team for your homebuying experience migh𒉰t be easier than you think. There are a few things you can do to feel good about who you choose and trust to guide you through the process: 

• Get recommendations: Your family, friends, or colleagues are valuable in building your homebuying dream team. Ask them for referrals to professionals they've worked with and would again. You can even ask them for anti-recommendations or which professionals to avoid.
• Set up interviews: Many professionals welcome interviews to determine whether you make a good team. Reach out to multiple professionals to learn more about their experience and communication style. Your real estate agent also works on your behalf with all members of your team, so vetting their communication style is especially important to make sure they’re representing you the way you want to be represented. 
• Check credentials and certifications: Today, certifying someone's credentials is only a click away. Verify that the professionals you consider have the qualifications and certifications you need to make your homebuying experience stress-free.
• Review online reviews and testimonials: Remember that the two most common reviews are usually overwhelmingly positive or negative. Try to remove any perceived emotion from the reviews and look for indicators of their professionalism, customer satisfaction, and track record.
• Trust your instincts: The average homebuying process lasts months, and it's a long time to be stuck with someone you don't trust or don't get along with. Choose homebuying teammates with professional skills and a personality that makes you feel comfortable, confident, and supported throughout the process. 

The Bottom Line

Building your homebuying team is the first step in finding your dream home. Buying a house is stressful, but it doesn't have to be a nightmare. Every professional you choose can make the process as smooth as possible. 

Remember to prioritize professionals with expertise in their field, excellent communication skills, up-front disclosures about capabilities and fees, and, ultimately, ones you trust. Once you've built your team, lean on them and their expertise to make the homebuying journey rewarding.