Buying a Home in Redondo Beach?



As a homebuyer, you are going to be working with a number of companies and different people as you go through the purchase process. Often there may be multiple people at the various companies that you have to interface with. Watch the video, it is very informative then continue reading to learn more about some of the players.

REAL ESTATE AGENTS

Most likely there will be at least two agents involved in the transaction, one for the Buyer and one for the Seller. And make no mistake about it, each party really needs their own representation.

I say at least two agents because sometimes agents work on a team. For example, a lead agent or team leader may have a Buyer's Agent to show homes.

Your agent may also have an assistant and most Real Estate Brokerages these days offer the services of a Transaction Coordinator (TC) to their agents as a service. The assistant may do things such as scheduling showings or inspections while the TC handles the Real Estate related paperwork (of which there is plenty).

LENDERS

Your loan officer, whether he or she is a Mortgage Broker, Banker or Direct Lender, may also have an assistant if they originate a lot of loans. In addition there will be loan processor and of course there is the dreaded underwriter, the person who ultimately has to sign off on the file.

The loan officer is the first person you speak with and is the one who can best advise you as to options re loan program, down payment, and how it all works. The LO's assistant may gather up your documentation (you will be asked for a lot) for the processor who organizes everything for submission to the underwriter.

INSPECTORS

Well the good news is that the inspector usually doesn't have an assistant. But you may have to utilize a few different inspectors before you get the complete picture of you new home's condition.

You will start with a General Inspection and  Termite Inspection.

Depending on what is uncovered out you may also need a sewer line video inspection, a mold inspection and evaluations of the roof, plumbing, HVAC, and electrical from licensed practitioners in those fields.

ESCROW & TITLE

Yes, the Escrow Officer has an assistant. Well almost always. In many escrow companies the assistant may know more about your file than the Escrow Officer. Just the way things work.

Sometimes the Title Company may also be the escrow company. Either way there will be a separate Title Rep and Title Officer. Usually the Title Rep can answer most questions regarding what you will see on the Title Prelim.