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Building your house-buying team

When it comes to buying a house, it’s usually best to build a team rather than trying to go it alone. Surrounding yourself with experts may seem like an unnecessary expense, but it can save you money and heartache in the long run. Here are a few examples of professionals to consider working with as you navigate the home-buying process. 

A buyer’s agent

A buyer’s agent is a realtor who works on your behalf to find homes, negotiate, and review the contract. Depending on where you live, you may be legally required to have a buyer’s agent or lawyer. 
A good realtor will partner with you and offer detailed knowledge of the local housing markets, keep an eye on new properties coming available, and advocate for you at every stage. 

A real estate lawyer

Real estate lawyers perform a similar function in negotiating and reviewing contracts and helping with any disputes on the property. A lawyer can also help you navigate any legal issues that come up. The process of buying a home involves the movement of large sums of money, so real estate lawyers often specialize in these financial transactions, holding money in escrow, and working with mortgage lenders. 

A home inspector (or multiple)

After you’ve made an offer on a home, the contract usually includes a contingency for the inspection. A home inspector is an objective and knowledgeable third-party expert who will examine as much of the house as possible, then provide a report identifying any major concerns or issues. 
Keep in mind, in the case of house inspectors, it could be a good idea to consider getting a second or third opinion. This is especially true if you’re considering buying an older house. It might cost you a bit more before you close, but it could also save you from major expenses down the road. 

A bank or other mortgage lender

If you’re like most homebuyers, you’ll probably be getting a mortgage to cover the cost of your new house. It’s a good idea to choose a bank or mortgage lender who’s personable and excited to work with you to help you reach your goals. A good lender can advise you on everything from what type of loan to apply for, what your budget and price-range should be, and even how to plan for a down payment.

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This information is general in nature and provided for educational purposes only.

Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.