People You Will Meet As A First Time Home Buyer

Many professionals are involved in the home buying process.

For many first time homebuyers, navigating the real estate industry and the home buying process can feel overwhelming. Thats totally understandable. A home is often the largest purchase that a buyer will make in their lifetime. The journey to homeownership can also be incredibly exciting, and the more you learn about the process, the better prepared youll be.

Lets talk about the various professionals that youll encounter on your homebuying journey.

Buyers Agent

Your real estate agent is the person that youll be spending the most time with as you search for and ultimately purchase a home. Your agents job is to advise you and advocate for you through the entire home buying process, from touring homes to closing on your dream home. Your agent has extensive knowledge of the real estate industry and will be your most valuable resource.

The terms real estate agent and REALTOR® are often used interchangeably,they actually mean different things. A real estate agent is an individual licensed to assist people in selling, purchasing, or renting property, while a REALTOR® is any licensed real estate professional who is a member of the National Association of REALTORS®.

Sellers Agent

When you make an offer on a home, the seller will also be represented by a real estate agent, also known as the Listing Agent. You might not be directly interacting with this agent very often, but they will be working behind the scenes to advise the seller till the home is sold.

Mortgage Loan Officer

Unless youre able to pay for your home entirely in cash, youre going to be working witha Mortgage Loan Officer ora Mortgage Loan Originatorto finance your new home.

An MLO is a financial professional who helps applicants acquire loans when purchasing the property. They guide clients through the mortgage approval process from the beginning of their loan application to closing on the property itself.

Home Inspector

When youre buying a home, its often a good idea to make your offer contingent onthe results of an inspection.

An inspection is intended to assess the condition of the home and uncover potential damage or safety issues.A qualified home inspectorwill examine the property top to bottom, from its plumbing and electrical work to its roof and foundation. They might recommend repairs or notify you if something isnt up to code.

Home Appraiser

A home appraisal, which determines the fair market value for the home, is often going to be required by your mortgage lender. The appraiser, typically required by state law to be an independent third party, will consider the general condition of the home, any upgrades made to the home, and comparable properties in the area to determine if the price youve agreed to pay for the home is fair.

This list doesnt cover all the professionals youll encounter on your journey to buying a home. There are plenty of other people that youre likely to meet along the way, including employees at the title company and insurance company that you end up working with.

But hope that this helps you understand the home buying process a little bit better!