Selling your home requires many moving parts, and people. On average, selling your home the traditional way can include as many as ten different types of people in order to push your home sale transaction through. That’s a lot! We’ve put together a helpful list of the types of people you’ll generally work with when selling your home in order to help you navigate the process of deciding which way to sell your home is best. Take a look!
Real Estate Agent
Licensed professionals by state who assist in real estate transactions for clients including buying, selling or renting. Typically, real estate agents are paid via commission from a home sale.
Real Estate Broker
Also a licensed professional, brokers are able to work independently and may employ real estate agents. Typically speaking, real estate brokers have more training and experience than agents and are generally seen in supervisory roles.
A mortgage brokerage company does not lend money. Instead, they work as an intermediary on behalf of their clients in order to find lending intuitions with competitive rates.
A mortgage lender is the financial institution that directly lends you money in order to secure a real estate transaction like a home sale. These institutions finance the close of the property sale by providing the cash in hand for the buyers. Conversely, they provide the payoff amount
A mortgage loan officer is the specific person that you deal with on behalf of the financial institution who is securing your loan in order to purchase a home. Mortgage loans are oftentimes the most costly and complex type of loan a typical consumer will meet. Your loan officer is the point person when it comes to securing your mortgage loan and will be able to answer day-to-day questions along the way.
Once your home has been purchased using the money financed by your mortgage lender, there is a strong possibility that your mortgage loan will be sold to a different loan servicer. No need to worry – all of your mortgage terms will still apply. A loan servicer is the company that handles the day-to-day tasks when it comes to managing your loan over its, typically, decades long life.
Before your mortgage company will secure you with a mortgage, they need to know the unbiased but professionally licensed opinion of the home’s actual value. This may end up being higher or lower than the listed sale price of the home but is a critical and required piece to securing a mortgage to purchase a home.
Home buyers will oftentimes hire a home inspector to carry out a full home inspection. A home inspector is licensed and trained to test out all the areas of your home to make sure that things listed on the house sale are as they say they are and are in good working order. Home inspections can give you some additional leverage in your final pricing negotiations if you are the potential buyers.
Your mortgage will require that you carry homeowner’s insurance on the home that you buy. A representative from your insurance company will need to verify a few details about the home and its condition before you buy it in order to provide you with a homeowner’s policy that contains appropriate and necessary coverage.
A specific and nuanced part to selling a home is verifying the title. In simple terms that just means that a title company is a third party that you hire to make sure that the person selling you the home you’re buying has the legal right to sell you their home. The insurance that title companies provide protect both you as the buyer and the mortgage company as the financer from legal things that may have happened with the home in the past. Conversely, your homeowner’s insurance covers you and your home from the point in time at which you buy it and going forward.
What if Traditional Home Selling Isn’t for Me?
Selling a home via a real estate agent along with other home sale industry professionals isn’t for everyone. Homeowners who are looking to move quickly through the home sale process, would like to get immediate cash for their home, and would like to bypass inspection reports may be interested in an alternative home sale avenue – real estate investors.
A real estate investor buys homes in as-in condition for cash and most of the time has the capability to close on home sales in a very quick timeframe. Real estate investors are not licensed real estate agents and do not require a paid commission percentage. When you sell your home to a real estate investor, like www.SellMyYorkPAHomeFast.com, you will also get to bypass the entirety of the mortgage process because real estate investors pay for homes in cash. No mortgage means much faster wait time, sometimes in as little as days to weeks instead of several weeks or months.
If you are considering selling your home and would like more information about selling to a real estate investor, contact www.SellMyYorkPAHomefast.com. We would love to answer any questions you have about real estate investors as well as provide you with information about how we can appraise your home and give you a fair offer to get cash in your hand, fast.