Whether you are buying a home or selling there is much to learn about the real estate process. Along the way, you will encounter several professionals. Hopefully, you choose to use a qualified real estate agent. In addition to this needed help, you’ll encounter other helpful people like inspectors, appraisers, a lender, and attorneys. To gain an understanding of each of these roles and their importance professional Plainfield IL Realtor Jeff Gregory offers some of the basics.
Real Estate Agent
The terms “real estate agent,” “real estate broker,” and “Realtor” are thrown around a lot and often used as synonyms. There are differences between these, however. A real estate broker differs from an agent in that they have gained education beyond the state’s requirements. Realtors are those that have a license from the National Association of REALTORS. This is important as the standards for ethics is higher for those with this license. The services of real estate professionals are many. For buyers, agents will be able to help you get pre-approval for a loan, find a home, make offers, negotiate on your behalf, work with inspectors, and walk through closing. For sellers, an agent will help you prepare your home for the market, establish a listing price, list your home on the MLS, market your property, work through negotiations, and more. They are a valuable part of the real estate process.
The role of the inspector is to evaluate a property to assess its condition and verify it is safe for those that will be living there. Keep in mind that they differ from an appraiser in that they are not looking to determine the value of the property. Although their findings will certainly affect the value, their primary purpose is to make sure everything is working right and identify needed repairs.
This professional is responsible for verifying the value of a given property. They will walk through the various aspects of a home including the interior (room by room), exterior, and amenities. They will take note of safety violations, analyze the layout of the property, and set a value. This will likely have an effect on the price of a home.
A mortgage lender will provide a loan for buyers seeking a home. They will assess a person’s financial profile to determine if the risk is such that a loan is possible. They do this by examining one’s credit along with several other factors.
A real estate attorney is needed when buying or selling a home for several reasons. When the purchase agreement is established between the buyer and the seller the attorney ensures that is within the law
When selling your home you might need a photographer, stager, painter, contractors for renovations, and a landscaper. To get started buying your next home or listing your home on the market contact real estate agent Jeff Gregory today!