Thursday, January 04, 2007

Who is on your real estate team?

It's not a joke, do you feel like you have a team working for you? Your agent, your attorney and your lender are your team, all working towards the common goal of getting you into your new home. I was having a discussion with a first-time buyer client about the process of buying a home, everything from pre-approval, to the appraisal, and finally closing. And like most first-time buyers, she had a mini-meltdown when she realized everything involved in getting from point A to point Z. Explaining that many of the specifics points happen behind the scenes and don't require direct action by her, like the mortgage commitment and title search, seemed to get her to breathe a little easier. Yes, the process can seem overwhelming and stressful, but that's where having a great team can help. When my client's have an accepted offer, the first thing I do is get in contact with my client's lender and attorney. They need to know who I am and more importantly they need copies of the accepted contract, etc so they can get started on their ends. By making their jobs easier, my goal is to help relieve some of my client's stress and anxiety. It's one more task completed and one less thing for my client to worry about. A good lender and attorney can do the same thing. You might have seen my previous rant on how not to hire a real estate attorney, and this is one of the reasons why. A good attorney can answer your questions and even help smooth out even the bumpiest of transactions. Sometimes attorneys don't want to share too much information with the real estate agent, so it's always important to let your attorney know that it's okay to share information with your agent. A good lender gets you the financing you need, and follows through until your closed. One of the things I love about my mortgage guy is that he's upfront. He doesn't play games and he gets the job done. I told him he's not allowed to go on vacation because no one else stays on top of the process like he does. Needless to say, he doesn't listen to me. It's amazing how much smoother a transaction can go when I am able to freely communicate with the attorney and the lender and vice versa. Ultimately, it's important to get recommendations whether it's from your agent or friends and family, don't discount the importance of the roles these people will play in the completion of your home purchase or sale.