Congratulations, you are ready to buy your first home! You have worked hard to get here, and you deserve the support of a dedicated team of people who are ready to help welcome you home. This can be one of the most rewarding, and most nerve-racking, experiences in your life. The best way to make buying your first home a great experience is by connecting with a knowledgeable, trustworthy team of experts who will guide you through the process—all the way to your first key turn.
Building Your Homebuying team
A successful outcome depends on every member of your homebuying team skillfully executing their role. Let’s look at the people you’ll be getting to know and trust on your journey to homeownership:
Buyer’s Realtor (sometimes referred to as “Real Estate Agent”)
This person is working for YOU. As the buyer, you get to decide your “must-haves,” your “nice-to-haves” and your “no-ways!” Need a fenced-in yard for your family or pets? Would you prefer at least a one-car garage? Can’t deal with highway noise? Be specific about your interests and what you are looking for in a new home. If you’re not sure, that’s okay, too. Your realtor will set you up in a database to see listings that fit your criteria and can narrow or widen the scope depending on the types of homes you’re willing to consider. A good realtor is looking out for you at all times; they will accompany you to in-person and virtual viewings, point out potential concerns like water damage or aging appliances, and can help talk through home values and comparable properties and offer different homebuying strategies.
You will have less contact with the seller’s agent, but they may be on-site for viewings to represent the current owner. Your realtor will work directly with the seller’s for questions about the property, offers, negotiations and final contracts. While the seller’s realtor represents their interests, don’t see them as an obstacle. At the end of the day, everyone’s objective is the same–to sell a home that the buyers will love.
The mortgage team that you select will help with all of the financial aspects of buying your home. They will start with a pre-approval, and work through the many ways you can pay for your new home and associated costs. This is who will explain rates, review calculations and explore mortgage options that are most beneficial to you and your financial future as a homeowner. Learn more about The Summit Federal Credit Union Mortgage Team and products like our No Closing Cost option.
If you opt for a home inspection (talk to your realtor about the value of this step!), your inspector will thoroughly review the house from top to bottom—from the foundation to the roof and everything in between. They will share information about the condition of things like structural integrity, plumbing, appliances, windows, past damages and current concerns. While an inspector will not make a recommendation about buying or declining the home, their report will help you negotiate details of your contract and see where additional budget may be needed for future repairs.
Real Estate Lawyer
A real estate attorney takes on the purchase agreements, mortgage documents, title documents and transfer documents. They will join you at the closing and will be one of the first team members to welcome you to homeownership after preparing and finalizing the paperwork to make it all official.
Ready to Draft Your Team?
There’s one more critical person on your home buying team…you! This is going to be your home so enjoy the process of selecting it and the pride of signing the ownership documents at the end. Buying and owning a home is a huge life step, so make sure you experience every minute of it. Let us help. The local Summit Federal Credit Union Mortgage Team is here to answer your questions and can help make referrals for other essential team members. Meet us and learn more about how The Summit is the perfect partner for your homebuying journey.