Home Buyers - Here is the team of professionals you need in your corner

Winnipeg Real Estate Blog by Bo Kauffmann September 29, 2018
1
HOME BUYING IS A TEAM EFFORT
Bo Kauffmann REMAX performance realty
As published at https://blog.winnipeghomefinder.com/common-roofing-problems-and-how-to-fix-them/

2
It takes a team to help home buyers
Over the past few years, potential buyers of houses and condos have been conditioned
to go to their banks and get pre-approved. While pre-approval is a very important step,
I personally recommend that it is NOT the FIRST step in your home buying process.
By the time a buyer takes possession of their new home, a number of professionals will
have been involved: a real estate agent, lawyer, mortgage lender, home inspector, home
insurer, moving company and others. Since a real estate agent will have close contact
with all of these professionals, my suggestion is that a home buyer START his/her
search by selecting their real estate buyers agent. An experienced agent will have
learned, sometimes thru trial and error, which business professionals can provide the
best service for their clients. Let's take a look at the whole home-buying team:
Home Buying in Winnipeg is a team effort. Get the best team
Real Estate Buyers Agent

3
Think of a good real estate buyers agent as the quarterback of your home buying
team. He or she will help the buyer find and look at all the houses or condos that suit
the buyers needs and budget. The agent will help structure an Offer to Purchase which
walks the fine line between protecting the buyer and at the same time appear attractive
enough for the seller to accept it. A GREAT agent will be able to make referrals to the
following people:
A Mortgage Professional
Whether the buyer prefers to deal with a bank, a credit union or a mortgage broker, the
real estate agent should have trusted professionals in each of these services. When a
mortgage lender pre-approves the buyer, the real estate agent needs to be able to trust
this approval. This 'trust' is important to the buyer as well, so ask your real estate agent
for a referral to a great mortgage lender.
A Real Estate Lawyer
Real Estate Law is different than Criminal Law, Family Law or Civil Law..... so use a
qualified, experienced real estate lawyer. Again, your REALTOR® should be able to
make a referral to a good lawyer. Although the price between different lawyers might
vary a little (a couple of hundred dollars) getting a lawyer who is responsive to any
problems that might pop up (and they DO) is important. Cheap does not usually equate
with good.
Home Insurance
Your bank or credit union will demand that you get home insurance in order to protect
your (and their) investment. Home Insurance is NOT optional..... you will need to get
it. An insurance broker should be able to offer several options, with different coverage
and costs. As your real estate agent for a referral here as well. (Note: Home insurance
is NOT the same as 'mortgage insurance')
Mortgage Insurance/Life Insurance

4
The buyer has just made a significant investment, with perhaps as much as 95% of it
still owed to the mortgage company. While, unlike Home Insurance, mortgage/life
insurance is optional, it is still highly recommended. Protect your family and your
investment in case of your untimely demise. There are significant differences between
mortgage insurance and life insurance: speak to a professional about these
differences. Most real estate agents might not know the difference, but would know an
expert in this field.
Home
Buying should be fun
Home Inspector
If you're lucky enough NOT to have to compete against other buyers, you may be able
to demand a home inspection. (Actually, you can always demand one..... but speak to
your agent about the reality of being able to get your offer accepted in such a case). A
qualified home inspector may be able to detect problems, and prevent you from buying
a 'money pit'. Home Inspectors are, unfortunately, a somewhat unregulated
industry. Nearly anyone with a ladder and a flashlight can call themselves a home
inspector.... Don't rely on kijiji or google to find a good one. Ask your real estate
agent for 2 names and pick one.

5
Moving Company
There are a lot of 'Guys with a Truck' type of companies out there. Like a lot of things,
you 'get what you pay for'. Get a quote in writing, and make sure it's not too open-
ended. (Example: $150 per hour, 5 hours or until the move it completed?) If in doubt,
check the BBB listings, and ask for recommendations. Or better yet, as your real estate
agent for a referral..... chances are, he/she have used and recommended a good moving
company in the past.
Bonus Home Buying Help: Electrician, Renovators, Painters etc
Although not technically part of the buying process, you might end up needing an
electrician to fix knob and tube wiring, or a renovator to put in a proper bedroom into
the basement, for example. A good real estate agent should have a list of these types of
professionals that a buyer can benefit from.
Expert Tip for home buyers
Home buying (or Condo buying) should be fun..... but always
'play safe'. Surround yourself with knowledgable
professionals, and minimize your exposure to danger. It is
perhaps the largest purchase you will ever make.
Home Buying, Home Buying Advice, Home Buying Steps,
Home Buying Process Explained

Valuable Real Estate
Information Resources
Winnipeg Home Finder
If you’re looking to buy, or sell a property
in Winnipeg, check out this website.
It contains links to all
Re/Max Condo Listings, all
Re/Max House Listings and even
Re/Max Luxury Property Listings.
Winnipeg’s Real Estate Blog
Bo Kauffmann, REALTOR®
After retiring from the Winnipeg Police Service, Bo joined Remax Performance Realty
and quickly became on of Winnipeg’s top producing REALTORS®. You can ﬁnd him on
Facebook, follow him on Twitter and Google+, and connect with him on LinkedIn.
Winnipeg’s Real Estate Blog and Winnipeg Home Finder are trademarks of Bo Kauffmann, REALTOR®

Home Buyers - Here is the team of professionals you need in your corner

Recommended

Recommended

More Related Content

More from Bo Kauffmann

More from Bo Kauffmann (20)

Recently uploaded

Recently uploaded (20)

Home Buyers - Here is the team of professionals you need in your corner