Your Homebuying Team

Appraiser
Attorney
Escrow Officer
Housing Counselor
Housing Inspector
Insurance Agent
Lender
Real Estate Agent
Surveyor
Title Insurance Officer

Appraiser: This person determines the fair market value of your house. While you do not work directly with an appraiser, you do pay a fee for his or her services when you apply for a loan. The cost of appraisals for single-family homes usually runs from $275 to $350.

Attorney: Some states require a lawyer to write the real estate contract, search the title and carry out closings. If a lawyer is not required, these tasks are done by real estate agents and title insurance companies. Attorneys may be called to settle any disputes or review the terms of the documents being signed. It is best to use a real estate attorney.

Escrow Officer: Escrow is part of your monthly payment on top of your mortgage payment. This is used to pay your property taxes and insurance premium. Escrow officers make sure that both the buyer and seller are holding up their end of the deal. The buyer and seller split a fee that is paid to the officer at closing.

Housing Counselor: Your counselor is someone you can turn to at any given stage of the home buying process for help and advice. Certified counselors usually work for a nonprofit organization and can provide you with one-on-one counseling sessions or homebuyer education classes.

Housing Inspector: Before making an offer on a home, it is important to have the property inspected to determine a good offer price and how much any repairs will cost you. The inspection is done by a housing inspector for an average cost of $200 to $300. The housing inspector should check all of the structural and mechanical parts of the property and note down any major existing or future problems.

Insurance Agent: Your agent recommends how much insurance you should have after surveying your home. He or she can also offer a safety inspection and recommend different safety features for you to install. Some insurance companies may even provide a discount for the installation, so choose a reputable company and an agent who can explain products and services in a way you understand.

Lender: This is the person who approves and sells you the loan. Many lenders work at banks, credit unions, government agencies, mortgage companies or savings and loans. You apply for a mortgage loan by filling an application at the lender’s office or online, after which your lender will review your credit and decide if you qualify for a loan.

Real Estate Agent: This is a trained individual licensed by the state to sell houses, other buildings and land. Your real estate professional is one of the most important figures in your path to owning a home. Your agent should be someone you trust, as he or she will be providing you with the most information on neighborhoods, recommended lenders, etc.

Surveyor: A surveyor checks the measurements of a property and the land surrounding it. This person is a licensed professional who shares these measurements with you and your lender and notifies you of any problems with the property. The buyer is usually responsible for paying the cost of the survey, which is one of the final steps in the process just before closing.

Title Insurance Officer: This person provides you with a history of all past owners of the house and makes sure the seller is following legal requirements. The report will list details like: parts of the property you may not be able to use, the total amount of taxes and whether they have been paid, restrictions that limit the use of the property and whether there are any overdue homeowner’s assessments on the property. In some states, an attorney can act as a title insurance officer.