You shouldn’t wait to retain each professional – get your team ready ahead of time.
Buying your dream home is the biggest purchase of your life. When preparing for your purchase, make sure you get the right team in place. The stronger your support, the smoother the process will go.
There are 3 main stages to your home purchase:
Arrange for your mortgage.
Find the home and negotiate the offer.
Closing the purchase transaction with the seller.
Picking the pros
Take the time to speak to trusted colleagues, friends and family. Make sure the salesperson, lawyer and mortgage broker understand your needs, and pick professionals that you feel most comfortable working with. You want a combination of knowledge, experience, and of course, personality.
When you are ready to put in your offer with your real estate salesperson, you will have a better idea on your financing abilities thanks to your mortgage broker. Should an issue arise at anytime from the offer stage to closing, you have your trusted real estate lawyer on standby ready to assist on your behalf. Your three professionals will work as a team, side-by-side each step of the way.
Communication is key
The better that your team communicates, the easier your life becomes. And who doesn’t want an easier life? Together, the team keeps in contact throughout working on your file. The client gets steady progress reports and issues are solved through mutual efforts. The realtor can call the lawyer anytime with questions. The real estate lawyer can call the mortgage broker to confirm the financing. Each step progresses like clockwork.
At the end of the day, you will end up with a beautiful home closed right. And you will very likely end up making 3 lifelong friends along the way. It is always good to know that they’re there for you even after closing. Happy home hunting!
Written by Jonathan Hacohen. Jonathan is a Partner with Kormans LLP. His practice areas include Real Estate & Corporate Law, as well as Wills & Estates law. Get in touch with Jonathan