Who’s Involved In
The Home Buying Process?
Lender - Bank/Mortgage company which provides the funds for the purchase of a home.
Buyer - A person purchasing a home. The buyer may search for a home with or without the help of a Real Estate Agent (a Buyer's Agent).
Seller - A person selling a home. The seller usually works closely with a Real Estate Agent to sell his/her home.
Real Estate Agent - There are two types of Real Estate Agents:
Selling Agent - A person who earns a commission on the sale of a home from the seller.
Buyer's Agent - A person who earns a commission on the purchase of a home.
Either Real Estate Agent may be a certified Realtor
or a lawyer specializing in Real Estate.
Home Inspector - A Real Estate professional who inspects a home prior to settlement day. The final result of a home inspection is a report detailing the condition of the house.
Home Appraiser - A Real Estate professional who sets a dollar value for a home's worth, using standard appraisal criteria. The appraisal is one of the important documents required at closing.