Most first time home buyers think that purchasing a house is a direct process involving only the buyer and the seller. While these parties are the most important, they are not the only ones who are involved. Various parties are part of the process. Below are some people are should be present when you want to purchase a home.
Real Estate Agent
Looking for the right house to buy can be very difficult for first time home buyers. This is because property owners will never sit in their empty houses waiting for buyers. The best approach to buying a house is by using a real estate agent. Many sellers register their properties with real estate agents in their area. You, therefore, have higher chances of gaining information about the empty houses from these agents than when you are moving around without any assistance. This is convenient since they can assess your budget and requirements, and then provide you with a more precise list of the available options.
Once you identify the house that you want to purchase, you will be given the price by the owner. However, it is important to confirm whether the price matches the actual value of the house. This can be done through a home appraiser, who will assess various features of the building to determine its value. Important factors that are considered when determining the value include the size, location, building style and the age of the building. You can then determine whether or not to purchase the house based on the appraisal report.
It is also necessary to get the house inspected by a home inspector. This professional will assess the house to determine the condition of the house and ensure it is habitable. Some of the items that are inspected include the stability and strength of the foundation, the roof, the fittings such as the doors and windows, electrical wiring and the plumbing system. All these details will be provided in the inspection report. For accurate results, you should get an independent inspector to carry out the inspection.
If you lack the cash to pay for the house, you can seek the services of a mortgage lender. This is a company that provides you with a loan to pay for the house and in return, you will be required to make monthly payments until they have recovered the initial amount plus the agreed interest.