Professional Services ...

The Home Experts - Who Are They?
Do You Need Them All?

Home Experts And Professional Services Required When Buying A Home.

You may be surprised at the sheer number of home experts involved in an average/normal home purchase and subsequent home ownership.So, who are the home experts and what are their professional services?

The Real Estate Agent/Broker - Buyers Agent - He or she will locate houses in your price range and will negotiate your offer to the homeseller. Many consumers are starting the search for a home via the Internet; however, you will ultimately need to contact a Realtor.

Lenders - Banks, credit unions and mortgage companies that lend money to home buyers.

Home Inspector aka: Property/Mechanical Inspector - A qualified Home Inspector examines the home you wish to purchase to evaluate its plumbing, electrical work, appliances, furnace, air conditioners, roof and structural stability. This allows you to address any issues with the vendor or home seller prior to closing, as well as anticipate any repairs you may need in the future.

Appraiser - The appraiser determines a home's market value, based on its condition and the selling price of comparable homes recently sold in the area. This value helps the lender determine the loan to value ratio (mortgage amount vs. value of home) of the mortgage. In most cases, the lender will obtain the appraisal for you.
You can find Appraisers & Home Inspectors here.

Lawyer - Your lawyer reviews the Agreement of Purchase and Sale, ensures all closing documents have been completed properly (including the title search and title insurance), obtains signatures, and records documents with the appropriate provincial/state land transfer office. He or she also will collect the money needed to close your purchase and give it to the appropriate parties.
You Can Use LegalMatch to Find a Trustworthy Attorney in Your Area.

Home Insurance Broker - If you have a mortgage or loan registered against your home, the lender usually requires that you have home insurance to, at minimum, cover the loan amount in the event of a mishap such as a fire. It is wise to factor in home insurance when planning to buy...It simply makes good "House and Home Sense." (I just couldn't help myself ...)
Click here to get a free home insurance quote.

Default Mortgage Insurer - Mortgage Insurers protect lenders from a borrower defaulting on a mortgage at any time during the amortization period. By statute, all home buyers with down payments of less than 25 per cent are required to purchase mortgage insurance. Mortgage insurers also enable people to purchase a home with as little as five per cent down and still obtain the same interest rates as conventional mortgages. GE Mortgage Insurance is Canada's only private sector supplier of mortgage insurance.

Surveyor - A survey is an accurate depiction of the property being sold. There are different types of surveys however, all surveys will show the boundaries of the property and any improvements such as buildings and fences. A survey is essential in that it is the link between what the homebuyers think they are buying and what in fact is being conveyed. (For example, a survey may reveal that the actual property you are buying ends considerably short of the hedge that you thought was the boundary of the back yard.)

Home Ownership Experts - Professional Services

Home ownership means home maintenance and repairs and often some updating or home remodelling. Some of you look forward to the 'do-it-yourself' projects around your home while many look for the expertise and professional services of various home contractors and tradesmen. (trades people to be politically correct.)

The chronic problem has always been: Where to find these home contractors?

Ask your friends. If they were happy with the professional services of a home contractor, they will be more than happy to recommend him/her to you. As well as your friend's recommendations for the professional services of a good home contractor, source others here: Prescreened Contractors. (As seen on Dr. Phil)

Ideally, three quotes are preferrable, but at least two, from separate home contractors for any project is best.

Related Articles & Resources ...