Do you know how many people are actually involved in a real estate transaction? It might be more than you think. Here’s a breakdown of who’s involved:
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- (1) The Sellers. Typically, they’ll hire a (2) Seller’s Agent; the Seller’s Agent will often have an (3) assistant and (4) transaction coordinator.
- (5) The Buyers. They’ll also have a (6) Buyer’s Agent with an (7) assistant and (8) transaction coordinator.
Are you keeping track... We are already up to 8 people!
- If you aren’t a cash buyer, you’ll be working with a (9) Lender/Bank. The lender will most likely have a (10) Loan Processor and (11)Assistant.
- Once the finances are figured out, you’ll have the (12) inspector.
- Next, you have the (13) appraiser, ordered by the lender.
- Somewhere in the midst of all this, you’ll need to contact your (14) Homeowner Insurance to obtain a letter for your lender.
- If your new home has a (15) HOA, the Seller and their agent will contact the HOA office and obtain any needed documents/information.
- The closing will happen at the (16) Title Company Office with your assigned closer. The title company will contact the buyer, and then everyone will meet to sign documents and give keys.
Now, congrats you’re through the home buying process!
Did you keep track? That is a total of roughly 16 people involved in the transaction of ONE property. With so many moving parts, it definitely a good idea to have an experienced agent by your side to guide you through the process.
