Tag Archives: Real estate broker

How Many Agencies are Involved When You Purchase a Home?

I am a first time buyer and am confused about many aspects of the buying process in California. Just how many different agencies are involved when you purchase a home in this state? There are 5 different Companies you will be dealing with, each having a very important part in the transfer of property. Your Realtor-what is referred to as a buyer’s agent Appraiser- An appraiser is licensed under the state real estate commission who evaluates the house and property that is to be purchased for the Lender. The appraised value of the house is what the lender will go by for the mortgage loan. Home inspector- An inspector is usually a building contractor or specialist. This inspector should be hired by you, the purchaser, to “inspect” the structure, plumbing, electrical and roofing to insure that the house being purchased is in good working and safe condition. Mortgage Lender- this is either a bank or a other lending institution who will carry the loan(Trust deed) on the property. Escrow officer-A third party who holds any money transfers in a trust account until closing and gathers all pertinent documents concerning the property. Traditionally, the Escrow Company is where you will sign all the documents and close the deal. Title company- does a search of the property for any liens or other encumbrances. They insure that the property’s title is “Clear” Continue reading

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Do I Need to Spend the Money on a Home Inspection?

I know that it seems like all you are doing is putting out money and you do to even own the home yet. But this is a must do expense. I do prefer that clients use their own inspector so they are totally comfortable with the results. The best thing to do is ask friends and acquaintance for recommendations. Be sure you get references from the Inspector and check them out. You want a licensed and certified master inspector.

This cost you a few hundred dollars, but is well worth the money. You could negotiate with seller to see if they will pay for the inspection. After all it is their property they are trying to sell to you as your dream home. Lets make sure it is not a money pit. Below are the area of the home inspection.

Structural Inspection
Roofing and Exterior Inspection
HVAC, Plumbing and Electrical Inspection
Interior Inspection
Insulation and Ventilation Inspection
Insist the property is inspected for dangerous molds.

Be sure a get a copy of the report and keep it for your records.

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