When heading down the road of buying property, most prospective buyers do their due diligence in shopping around for the best interest rate but often neglect to do their homework on other key areas of purchase. There are various other critical services with fluid rates and it would be in anyone’s best interest to compare prices to ensure the best deal. Here are four services to consider when shopping around:
MORTGAGE LENDER: Although there are numerous factors which cannot be determined until you have found a house that you are ready to purchase, securing an interest rate with a lender should always be one of the first steps when buying property. Interest rates vary from lender to lender, so it would be wise to lock in the best rate you can prior to finding that new dream house.
REAL ESTATE AGENT: The best referrals for real estate agents inevitably come from friends and family. Therefore, it would be in your best interest to listen carefully to the people who you trust the most, gather opinions, then begin meeting with agents. More likely than not, you will be spending a lot of time with this person, so it is absolutely imperative that you feel a connection. Be sure you go with the person who makes you feel most comfortable and conveys the greatest amount of trust.
TITLE COMPANY: Most often, your real estate agent will refer a title company to you, but you should not feel obligated to go with this service. With that in mind, take a day or so to research title companies that better match your expectations and overall budget. Although doing research on title company options does not sound necessarily appealing, it can be one of the most important steps of the purchasing process. So, you will certainly thank yourself for being so thorough, especially once you receive a bill for the title company’s services.
HOME INSPECTOR: Similar to title companies, most real estate agents have a home inspector who they recommend. If you trust your realtor, you should feel comfortable going with their home inspector of choice. However, it does not hurt to shop around to ensure that you are getting a good deal in both pricing and services.
Purchasing a home, especially if it is your first time, can often seem daunting and overwhelming. However, with the proper amount of research, the process can run smoothly and quickly and you can save valuable money in the process.