As an ever-changing industry, real estate is complicated. Whether you’re looking to buy a home or sell one, you’re going to need professional support.
That said, real estate is anything but one size fits all. Everyone has their own unique vision, motivations, and ideal outcomes. As a result, who you work with in accomplishing your personal goals could look totally different than someone else. Some experts are essential to every transaction, while others are helpful in more unique circumstances.
This post will look at the most common types of industry professionals that buyers and sellers work with during their transaction.
Your Real Estate Agent
While there are a number of important professionals involved in any transaction, reaching your real estate goals should always begin with an experienced and knowledgeable agent. Throughout your journey, they are your dedicated pillar of support – providing essential information about the market, financing, competing buyers or sellers, and anything else you need to be successful.
Lenders & Mortgage Brokers
When you buy a home, obtaining a mortgage is one of the most important steps in the purchasing process. A home is no small purchase, and in order to do so, you’ll need adequate financial resources. This means getting a mortgage from a reputable lender.
Your lender will closely analyze your personal finances to determine how much you can afford to spend on your monthly payments, and in turn, how much they’re willing to lend you for your home purchase. Some buyers may already have a lender in mind – such as the financial institution they use for everyday banking. When the time comes to sell your home, you’ll work with your lender to close or move your existing mortgage and set up financing for your new home.
If you’re unsure where to find the best mortgage provider for your purchase, you can work with a broker (or ask your real estate agent). A mortgage broker is well-connected to local lenders and can help you identify who will be the best fit for you.
Thinking about buying a new home? You may find these other blogs from our site helpful.
- How to Know When You’re Ready to Buy a Home
- How to Make Your Move as Budget-Friendly as Possible
- What to Look For in a Home Viewing
Real Estate Lawyers
As you may expect, there are a lot of legal factors involved in buying or selling real estate. Regardless of which side of the transaction you’re on, there will be several important documents that you will need to sign. During this step, your real estate agent will help you make sense of critical information and ensure that the deal protects your best interests.
The advantage of working with a dedicated real estate lawyer over a lawyer without specialization is that they are deeply familiar with the various intricacies of real estate. They will have built-in knowledge and experience that’s directly beneficial to your circumstances.
As real estate in Ontario continues to balance out, home inspections have become a more prominent element in transactions. For buyers, including a home inspection contingency is an easy way to identify potential concerns about the property before the deal goes through.
A home inspector will analyze and examine the home’s structure and systems and make note of any red flags that the buyer should know about. They’ll then provide a detailed report that outlines their findings. Rather than ask you to find and hire an inspector, your agent will usually have a preferred professional in mind already.
Looking for more seller-oriented resources? Check out these pages from our site.
- Do You Need to Stage Your Home?
- Book a Property Valuation
- What Sellers Should Know About Rising Interest Rates
Contractors & Extra Help
Preparation is a key part of any home sale. In order to get the best possible results based on the market, your real estate agent may recommend making a few small adjustments to your home. This could include necessary repairs or small upgrades to boost interior and curb appeal. While a DIY approach might work for some projects, there are certain instances where a professional contractor is better suited for the job.
As a buyer, you may choose to make a few changes to your new home before or shortly after you’ve moved in. Once again, major upgrades or renovations are best handled by a trained professional who can make your home look great.
Looking to buy or sell a home in the near future? Get in touch to find out how our expert agents can help you accomplish your goals.
The Bosley Advantage
Read about the heritage and innovation that form the foundation for Bosley’s industry-leading approach to real estate.