Purchasing a home is often complex and it can be a bit intimidating if it is your first property, and an article in the Toronto Sun has pointed out the value in getting help from a team of experienced and knowledgeable professionals. Such a team will be able to provide the correct information as well as answers to any questions that may arise during the home buying process.
Such a team is likely to include a real estate agent, a mortgage broker, an insurance broker and a mortgage broker and a home inspector. Most people when buying a property will work with a real estate agent who should have specialized knowledge to help you find the home of your dreams. They will also write up the offer and will negotiate for you so you can get the best deal. Additionally, a good real estate agent will have valuable information about the community local area and can guide you when making your choice about where to live. They will also help arrange a home inspection. When selecting a realtor, it’s important to find someone you feel comfortable dealing with and who you can trust.
Most people when purchasing a property will need a mortgage and this is where a mortgage broker can be very useful as there are so many different products on the market. Mortgage brokers are able to shop around to find the best deals and they can explain the rates and terms of a mortgage or home loan.
It is a lawyer’s job to protect your legal interests when purchasing a home. They will make sure the property does not have any statutory or building liens and will review any contracts before you sign them. The article points out that lawyer fees can vary tremendously depending on their expertise and the complexity of the house purchase.
Insurance brokers can be useful for sourcing the best property insurance. Lenders require property insurance for a mortgage loan. It should cover the replacement cost of the home so premiums depend on the value of the property.
Home inspectors have a vital role to play in purchasing a property and are well worth the cost. They help avoid any unexpected surprises and will inform you if something isn’t functioning properly, needs repair or is unsafe or will identify where there may have been problems in the past.